Economy, Business, Finance, and Labor

Economy and business news

Colin Fogarty / Northwest News Network

There are several new developments Wednesday in a long-running labor dispute between unionized longshoremen and Northwest grain terminal operators. One grain exporter announced it reached a contract agreement, while another locked out its union workers after discovering what it called sabotage.

Picket lines sprung up almost immediately in front of the United Grain terminal at the Port of Vancouver, Washington. This, after the terminal operator notified the International Longshore and Warehouse Union Local 4 of a lock out.

Early Economic Recovery Leaves Rural Idaho Behind

Feb 25, 2013

New numbers out Monday show Idaho's rural areas experienced the post-recession years very differently from the state's cities. While places like Boise and Pocatello were on the mend, economic output in rural communities in Idaho declined.

At first glance, Idaho's rural counties appeared to be making an economic recovery with the rest of the state. But Idaho’s Department of Labor says when you take inflation into account, the output of goods and services from rural Idaho actually declined by $90 million in 2011.

SALEM, Ore. – Oregon lawmakers now have a better sense of how much money they'll have to put together a budget. State forecasters Friday announced their latest revenue projections.

The bottom line: Things keep getting better. But not by much. State economist Mark McMullen told a legislative panel that corporate and personal income tax projections continue to rise. But he says the rate of increase isn't as strong as previous economic recoveries.

Tom Banse / Northwest News Network

DONNELLY, Idaho - The real estate crash triggered some big bankruptcies in the Northwest, but few are as spectacular and convoluted as the foreclosure of the unfinished Tamarack Resort in western Idaho. What was supposed to be the Northwest's newest destination resort remains in extended legal limbo, but plucky homeowners are keeping it alive until a new buyer arrives.

OLYMPIA, Wash. – Paid medical leave benefits would expand for employees under a measure in the Washington legislature. The measure would allow workers to take up to 12 weeks to tend to new babies in addition to 12 weeks for other medical issues at home.

Proponents of increasing paid time-off for families filled a hearing room in Olympia Tuesday. Don Orange owns a small auto repair shop in Vancouver, Wash. He testified he would gladly pay extra for the new benefit.

OLYMPIA, Wash. – The new Republican-dominated majority in the Washington state Senate has approved a series of controversial measures that deal with injured workers. The votes Monday were a key test of the Majority Coalition’s one vote advantage.

The most controversial of the proposed laws would lower the age when permanently injured workers are eligible to choose a lump sum insurance payout. Jason Speicher hurt his back on the job and is getting retrained. At a labor-backed press conference, he said taking a one-time payment is risky.

Tom Banse / Northwest News Network

ABERDEEN, Wash. – The Northwest is on the verge of becoming a gateway for crude oil. Three different developers have plans to use docks on Grays Harbor, Washington to transfer crude oil from trains to ships. Other projects are getting off the ground in Tacoma, Vancouver, B.C. and on the lower Columbia River.

There was a huge turnout Wednesday night at an introductory public workshop in Aberdeen, Washington. The response indicates crude-by-rail may be the region’s next big environmental controversy.

Anna King / Northwest News Network

WALLA WALLA, Wash. - Northwest winemakers are trying to wet-the-whistle of China's emerging middle class. Demand for wine is growing significantly there. And that’s drawn Chinese business delegations, restaurateurs and tourists to our region. There even may be a reality TV show that would feature Northwest wineries.

Back when the economy was rolling in mid-2000s, Long Shadows Wineries was jumping.

Study: Private Prisons Lead To Fewer Jobs

Jan 28, 2013
Google Maps

Researchers say the economic benefits of prisons often don't materialize for rural communities. That's according to a new paper by Northwest sociologists. In fact, they found communities with private prisons fare worse than they did before.

Washington State University sociologist Gregory Hook says rural areas that opt to build prisons, even courting them with tax breaks, have one main goal in mind: jobs.

“You know, you look across the way and you say 'Oh there's a prison. Fifty people have a job there. So that's 50 new jobs in my community.' … Only it's not.”

Silver Boom Brings Historic Sunshine Mine Back Online

Jan 26, 2013
Mine Safety and Health Administration

The high price of silver is bringing one of the Northwest's oldest silver mines back online. The Sunshine Mine in north Idaho is known for one of the worst mining disasters in the nation’s history. It will resume production in late 2014.

The new owner, Sunshine Silver Mines Corp., bought the mine after the previous owner went bankrupt. It happened just in time for silver prices to hit $30 an ounce, and mostly stayed there. The company expects to hire 250 miners once production begins.

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