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FOR
IMMEDIATE RELEASE
July 26, 2001
River Park Square is a positive
economic development tool for Spokane
The new downtown shopping, dining and entertainment
center has…..
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Created and retained more than 1100 full-and part-time
sales, support, service and management jobs.
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Helped retain existing downtown business.
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Boosted retail sales. Downtown retailers
report increased sales and business activity, while many River Park Square
retailers continue to generate sales exceeding expectations. Gross
retail sales at River Park Square exceeded $58.2 million for the year 2000,
up 30 percent over 1999. Taxable retail sales in Spokane County were
up 4.4 percent in 2000 over 1999, and up more than 20 percent in 2000 over
1996.
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Increased tourism. According to the
Spokane Area Convention and Visitors Bureau, there was a marked increase
in tourism and retail spending in Spokane for the year 2000 over 1999.
Additionally, the SACVB now uses River Park Square in its tourism
promotion.
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Created more than 1000 construction jobs and
poured millions of dollars into the construction industry and trades.
River Park Square is revitalizing
downtown by attracting new investment
Downtown
redevelopment and new investment projects totaling nearly $350 million
have moved forward since River Park Square opened in August 1999.
As new projects are constructed, the City will continue to benefit through
construction tax fees and revenues paid into its general fund.
No matter how you look at it,
River Park Square is a net gain!
To date, taxes and fees generated and paid by
River Park Square to the State of Washington, Spokane County and City of
Spokane exceed $21.6 million.
Of this amount, $6.2 million has directly
benefited the City of Spokane and city- supported agencies including:
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More than $700,000 to support local schools.
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More than $855,000 to help fund Spokane Transit
Authority.
River Park Square is downtown Spokane’s
new shopping, dining and entertainment destination.
Built with a vision to revitalize a seriously
declining downtown, the $114 million redevelopment project continues to
make a significant impact on the City of Spokane and all of its citizens.
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