River Park Square Delivers Significant Economic Benefits 
to  the City of Spokane

Spokane, Wash. – River Park Square today announced year-end economic impact figures, which surpass previous projections and underscore the downtown revitalization project’s significant impact locally, regionally and statewide.

Since the project evolved, taxes and fees generated by the $110 million shopping, dining and retail center total more than $18.2 million, according to sales reports, the City of Spokane, Spokane County, River Park Square and Goebel Construction.

“River Park is a net gain for the City of Spokane and all of its citizens,” said Les Weatherhead, legal counsel for the downtown revitalization project.  “The new urban center has not only infused a great deal of money into our economy, it has also created a new sense of energy downtown that is paying off in many ways.”

Among the $18.2 million generated by River Park Square, which benefits the State of Washington, Spokane County, and the City of Spokane, $5.42 million goes to the City of Spokane and city-supported agencies, according to Weatherhead.   That’s 30 percent greater than the developer previously projected at $4.2 million for that time period, he added.  

Of the $5.4 million, taxes and fees breakdown to include $2.5 million in sales tax revenues, $1.3 million in property tax revenues, $1.15 million in construction permits and fees, and $.475 million related to the vacation of Post Street.

Much of the sales and property taxes generated by River Park Square goes directly into the City’s general fund.  In addition, more than $600,000 was allocated for education – to School District 81 -- and $552,000 for transportation – to the Spokane Transit Authority, and $184,000 to the Public Facilities District, which operates the Spokane Arena.  

“The taxes paid by River Park Square are a really positive sign because they represent a potential lowering of the schools tax rates for individual home owners,” said Gary Livingston, Superintendent, School District 81.    

Additional taxes and fees generated by River Park Square fund important services outside the city limits in Spokane County and the State of Washington.   Spokane County has directly received over $800,000 in tax revenues from the project.  

In fact, total sales tax revenues from construction at River Park Square totaled $8.3 million.  Total property taxes paid exceed $1.6 million and total sales and admissions tax from retailers at River Park Square exceeds $6.55 million.  Other fees and assessments from the project total $1.75 million.