Market facts - Market Facts 2016

Market Facts

2016

The statistical profile of Snohomish County

Snohomish County’s rise as a manufacturing powerhouse • 6-7

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MARKET FACTS 2016

WHAT’S INSIDE MARKET FACTS 2016

THE HERALD BUSINESS JOURNAL 3

NEWSROOM Editor: Jim Davis 425-339-3097; jdavis@heraldnet.com; businessnews@heraldnet.com Contributing Writers: Deanna Duff, Melissa Crowe Contributing Editor: Jocelyn Robinson Publisher Josh O’Connor 425-339-3007 joconnor@soundpublishing.com

ADVERTISING SALES Maureen Bozlinski 425-339-3445 — Fax 425-339-3049 mbozlinski@heraldnet.com

Selected occupational wages in Everett-Seattle-Bellevue . . . . . 20-22

Seattle metro area piped natural gas, per therm . . . . . . . . . . . . . . . . . . . . 27

Snohomish County home sales, prices . . . . . . . . . . . . . . . . . . . . . . . 23

Seattle metro area electricity per kilowatt hour . . . . . . . . . . . . . . . . . 27

List of Snohomish County banks . . . . . . . . . . . . . . . . . . . . . . . 24

Largest private employers in Snohomish County . . . . . . . . . . . . 28

Snohomish County economic characteristics . . . . . . . . . . . . . . . . 25

Largest public employers in Snohomish County . . . . . . . . . . . . 28

Unemployment numbers for Snohomish County . . . . . . . . . . . . 25

Graduation rates for Snohomish County school districts . . . . . . . . . 29

Listing of chambers of commerce . . 8

Consumer Price Index, SeattleTacoma-Bremerton MSA . . . . . . . . 27

Languages spoken in Snohomish County . . . . . . . . . . . . . . . . . . . . . 29

Listing of aerospace companies in Snohomish County . . . . . . . . . 17-20

Seattle metro area unleaded fuel prices . . . . . . . . . . . . . . . . . . . . . . . 27

Snohomish County population, 2005-2015 . . . . . . . . . . . . . . . . . . . 30

BUSINESS NEWS EvCC adding new mechatronics program . . . . . . . . . . . . . . . . . . . . . . 4 Study shows county’s manufacting growth over 50 years . . . . . . . . . . .6-7 Sound Transit plans light rail to Everett . . . . . . . . . . . . . . . . . . . . . 10 2016: A review of the year’s business news . . . . . . . . . . . . . . . . . . . . 14-15

STATISTICAL SNAPSHOTS

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COVER PHOTO Ian Terry, The Herald

Send news, Op/Ed articles and letters to: The Herald Business Journal, P.O. Box 930, Everett, WA 98206, or email to businessnews@heraldnet.com. We reserve the right to edit or reject all submissions. Opinions of columnists are their own and not necessarily those of The Herald Business Journal.

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HIGHER EDUCATION NEWS

EvCC trains new kind of workforce Program to teach skills needed in future as well as needed in past By Melissa Crowe

For The Herald Business Journal

EVERETT – Unlike decades ago, the current surge in demand for welders and other vocational skills in the Puget Sound region is more than a search for blue-collar workers. Increasingly specialized industry requires knowledge of robotics, electronics, programming and fabrication along with a solid foundation of welding, hydraulics and Sheila Dunn mechanics. The new mechatronics program at Everett Community College, slated to open this fall, is gearing up to train a new kind of workforce. “It’s nothing like what we saw in shop class 20 years ago,” said Sheila Dunn, EvCC associate dean of aerospace and advanced manufacturing careers. “The processes are evolving and changing and

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the foundational skills are changing with it.” This new crop of technicians will still need to know how to maintain and repair older equipment, along with how to work with automated systems and robotics. The new program is a direct response of industry demand. “It’s a commitment of the college to the community, to future workers and to the industries that are working hard to support their growing and emerging technology,” Dunn said. If the name sounds off, don’t be alarmed. It is “a made-up word for mechanical electronics,” Dunn said. The college’s new program will train technicians in robotics, electrical, mechanical, programming, welding, hydraulics, programmable logic controls and fabrication. Upon graduation, mechatronics technicians will be able to install, maintain, troubleshoot and repair industrial equipment. Mechatronics is one of the top emerging technologies slated to transform the world. The Bureau of Labor Statistics forecasts the occupation will continue growing through 2022 and technicians’ broad skill set will help sustain demand for their services. “What we’re hearing from industry is

this is what’s needed most,” Dunn said. “This is the gap: people in the trades with understanding of basic mechanical electronics.” Locally, Boeing is the big key player in the program and stands to benefit the most from the trained workforce, Dunn said. That also trickles down to secondand third-tier suppliers who are also automating their systems and adding robotics equipment. As positions for riveters or drillers are replaced with robots, “you’d be creating jobs in turn with the people who have to maintain those systems,” Dunn said Dunn expects the shortage of these employees will drive the wage up. Recent machining grads who earn $60,000 after five years could stand to earn more with mechatronics training, Dunn said. “The whole idea of prevention and maintenance of automated systems is just emerging,” Dunn said. “As these robots are being customized for employers, that creates a whole area of who is going to sustain those investments.” EvCC committed in October to funding a $2.5 million expansion of the Advanced Manufacturing Training and Education Center to make room for the new mechatronics program. EvCC President David Beyer said in a

news release the program and expansion is “the next step to meet the demand for skilled employees.” The center, which opened in October 2014, is located in a former warehouse at 909 N. Broadway. The expansion will add 17,000 square feet to the center, including eight classrooms and a mechatronics lab. The college plans to open the program in stages until it is fully built out to a fulltime, two-year degree. In the two-year build out process, the college will offer a short certificate with compressed versions of the five key areas to mechatronics: electronics, mechanics, programming, pneumatics and hydraulics, and robotics. This winter students can earn a short certificate in robotics. Dunn expects the first year will see 40 graduates, but one challenge is identifying who needs the program the most: people already in the workforce or new students. Since the manufacturing center opened, more than a thousands students have been trained for high-demand jobs in manufacturing and aerospace. Dunn said she hopes to partner with area high schools for dual-credit courses on robotics and work with area universities’ mechanical engineering programs to create real-life situations for both professions.

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COVER STORY

COURTESY THE BOEING CO.

The first 747-200B being built at Boeing’s plant at Paine Field in a photo shot on July 31, 1970. Below is the Everett Boeing factory under construction at Paine Field on April 4, 1967.

From mill town to boom town Study: Manufacturing surged in Snohomish County as it declined elsewhere in U.S. By Deanna Duff

For The Herald Business Journal

J

ohn Monroe had a front-row seat to Snohomish County’s manufacturing boom. With the opening of Boeing’s first Everett plant in 1967, he witnessed his hometown transition from a predominantly mill town to the advanced manufacturing juggernaut it is today. A 2015 University of Washington study found Snohomish County boasted the nation’s largest percentage of manufacturing job growth over a period of nearly 50 years.

From 1967 to 2014, it surged 276 percent increasing from 16,000 to 60,156 jobs. The study was based on U.S. Bureau of Labor statistics. “We can’t forget how important manufacturing and advanced manufacturing are to our community in terms of both jobs and social benefits,” says Monroe, chief operating officer of Economic Alliance Snohomish County. Snohomish County is an encouraging anomaly. In 1967, manufacturing jobs accounted for 25 percent of the U.S. workforce compared to 8.3 percent in 2014. Locally, neighboring King County dropped 45.5 percent. “I’ve been here (Washington) since 1955 and long before Everett’s Boeing plant. So, I knew in general things had changed, but even I was surprised by how much Snohomish County’s growth outpaces other places,” says Richard Morrill, the study’s author and University of Washington professor emeritus, Depart-

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COVER STORY Boom times Snohomish County saw the number of its manufacturing jobs grow from 16,000 in 1967 to more than 60,000 in 2014, an increase of 276 percent, the largest growth of manufacturing jobs for any county in the country. ment of Geography and Environmental Studies. Snohomish County contributes $36.2 billion to the state economy. The majority of the county’s manufacturing jobs are related to aerospace and anchored by Boeing’s presence, according to Economic Alliance. “We have the full life cycle of employment in Everett from conceptualizing and designing airplanes, to building, corporate functions, marketing and sales. Plus, we have numerous suppliers in Snohomish County,” says Bill McSherry, Boeing vice president, State & Local and Global Corporate Citizenship. McSherry estimates that Boeing’s current workforce in Everett is approximately 44,000. Growth includes the April 2013 opening of Boeing’s new 180,000 square-foot Everett Delivery Center which tripled previous capacity. Additionally, the 747 recently was updated and the 767 line was boosted in 2015. Boeing’s 787-9 Dreamliner is also currently under production in Everett. “There has been a period of a couple of years where every plane in the Everett factory has been updated. That investment — I can’t even tell how many of millions of dollars — is driving a remarkable increase in work for Everett,” McSherry says. The future of Snohomish manufacturing work will likely continue expanding with the development of Boeing’s 777X. The program is projected to support 56,000 jobs in Washington. Everett will be home to the 1.2 million square-foot Composite Wing Center. Construction is underway with a projected opening of 2016 to begin building the largest wing in history. According to Monroe, aerospace ranks highest in all industry sectors for what is known as the multiplier effect — additional jobs created for every advance manufacturing job. Every Snohomish County aerospace worker generates an additional 1.67 jobs. “I think part of it is that aerospace industry salaries are higher and afford a bit more discretionary income to spend on services and education. It just overall affords the community a higher level of employment,” Monroe says. While Boeing is the region’s primary linchpin, the enduring strength of Snohomish County’s manufacturing sector is an ecosystem of diverse contributors. A 2013 study by Community Attributes, Inc., a Seattle-based consulting

IAN TERRY / THE HERALD

The assembly line for Boeing 777 planes is seen at Boeing’s Everett factory in December.

“I knew in general things had changed, but even I was surprised by how much Snohomish County’s growth outpaces other places.” — Richard Morrill

firm, found that the county is home to 219 aerospace-related businesses. “When we think about economic development, there is the concept of economic clusters, concentrations of given industries. There is no better example of an economic cluster making everyone stronger than what’s in Everett when it comes to aerospace,” McSherry says. A number of companies recently relocated to Snohomish County. In 2009, Korry Electronics, a subsidiary of Esterline Control Systems, moved from South Lake Union to Paine Field. In February 2015, Esterline acquired Belgium based Barco, an aerospace and defense display business, with half of the company moving to Everett. “There were a couple of reasons for the move,” says Mike McCoy, president of Esterline-Korry Electronics and Esterline-Mason Electric. “One was the pro-business climate we experienced in Snohomish County. (Economic Alliance) reached out and bent over backwards working on site selection so we could be co-located to Boeing.” McCoy cites the “rich community of skilled workers” as another reason why the area is fertile ground for

manufacturing. A local focus on educating the next generation of workers includes Everett Community College’s Advanced Manufacturing Training & Education Center. Opened in 2014, an expansion is already planned to accommodate demand for new programs. “We have to ensure we stay focused on our general ability to continue delivering skilled and qualified employees at all levels of the workforce. All levels is really a key aspect for me,” says Matt Yerbic, chief executive officer, Aviation Technical Services (ATS). ATS provides airplane maintenance, major modifications and upgrades. Around 75 percent of its workforce is located in Snohomish County. “The vast majority of people who are underpinning this industry and sector of Snohomish County may not be engineers, but are more likely folks who are very highly skilled technicians putting airplanes together and helping maintain them. That’s the driving engine,” Yerbic says. Companies such as ATS provide sustainment services which help ensure a vibrant future for the manufacturing. Planes built in Everett continually return

for maintenance and upgrades, work that would otherwise be lost. “There is an entire life cycle from dreaming up the airplane to bringing it to life and then maintenance and modifications,” Yerbic says. “It’s great to have both sides of that process in one area. It’s not all that usual. It’s kind of a uniquely Snohomish County thing.” Snohomish County leaders are working to support continued manufacturing growth for the next 50 years. Economic Alliance commissioned a study in 2014 that projected 200,000 new residents in 20 years, which equates to 103,000 additional jobs. Economic Alliance is identifying new manufacturing sectors, such as maritime and medical device manufacturing, with a need for skills already present in the local workforce. Diversifying will help Snohomish County weather possible future fluctuations in aerospace. “What we have (in Snohomish County) comes out of good fortune and decades of hard work by people who cared about their industry,” Yerbic says. “We have what we have today on the backs of the drive from the people. We can’t ever take that for granted.”

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CHAMBERS OF COMMERCE Economic Alliance Snohomish County 808 134th St SW, Suite 101 Everett, WA 98204 Phone: 425-743-4567 Fax: 425-745-5726 Email: info@economicalliancesc.org Website: www.economicalliancesc.org/ Arlington-Smokey Point Chamber of Commerce 104 N Olympic Ave. Arlington, WA 98223 Phone: 360-659-5453 Email: manager@arlington-smokeypointchamber.com Website: www.arlington-smokeypointchamber.com/ Bothell Chamber of Commerce 23716 Eighth Ave. SE, Suite I-1 Bothell, WA 98041 Phone: 425-485-4353 Email: info@bothellchamber.com Website: www.bothellchamber.com/ Camano Island Chamber of Commerce 848 N. Sunrise Blvd. Camano Island, WA 98282 Phone: 360-629-7136 Email: chamber@camanoisland.org Website: http://camanoisland.org/ Clinton Chamber of Commerce PO Box 444 Clinton, WA 98236 Phone: 360-341-3929 Email: info@discoverclintonwa.com Website: www.clintonchamberofcommerce. org/

Coupeville Chamber of Commerce 905 NW Alexander St. Coupeville, WA 98239 Phone: 360-678-5434 Email: director@coupevillechamber.com Website: www.coupevillechamber.com/ Edmonds Chamber of Commerce 121 Fifth Ave. N Edmonds, WA 98020 Phone: 425-670-1496 Fax: 425-712-1808 Email: business@edmondswa.com Website: www.edmondswa.com/ Freeland Community Chamber of Commerce 1664 Main St. Freeland, WA 98249 Phone: 360-331-1980 Fax: 360-331-1980 Email: freeland@whidbey.com Website: www.freeland-wa.org/ Lake Stevens Chamber of Commerce (Greater) 9327 4th St. NE, Suite 7 Lake Stevens, WA 98258 Phone: 425-334-0433 Email: info@lakestevenschamber.com Website: www.lschamber.org/ Lynnwood Chamber of Commerce PO Box 2661 Lynnwood, WA 98036 Website: www.thelynnwoodchamber.com/ Marysville Tulalip Chamber of Commerce 8825 34th Ave NE, Suite C Marysville, WA 98271 Phone: 360-659-7700

Fax: 360-653-7539 Email: membersupport@marysvilletulalipchamber.com Website: www.marysvilletulalipchamber. com/ Monroe Chamber of Commerce and Visitor Information Office 125 South Lewis St. Monroe, WA 98272 Phone: 360-794-5488 Fax: 360-794-2044 Email: office@monroewachamber.org Website: www.chamber-monroe.org/ Mukilteo Chamber of Commerce 4902 76th St. SW Mukilteo, WA 98275 Phone: 425-347-1456 Email: julie@mukilteochamber.org Website: http://mukilteochamber.org/ Oak Harbor Chamber of Commerce 32630 Highway 20 Oak Harbor, WA 98277 Phone: 360-675-3755 Fax: 360-679-1624 Email: info@oakharborchamber.com Website: http://oakharborchamber.com/ Snohomish Chamber of Commerce 127 Ave. A Snohomish, WA 98291 Phone: 360-568-2526 Fax: 360-568-3869 Email: manager@cityofsnohomish.com Website: www.cityofsnohomish.com/ Stanwood Chamber of Commerce 8725 271st St. NW Stanwood, WA 98292

Phone (360) 629-0562 Email: info@stanwoodchamber.org Website: http://www.stanwoodchamber.org/ Sultan (Sky Valley) Chamber of Commerce 320 Main St. Sultan, WA 98294 Phone: 360-793-0983 Fax: 360-793-3241 Email: debbie@skyvalleyvic.net Association of Washington Business 1414 Cherry St. SE Olympia, WA 98507 Phone: 80-521-9325 Email: members@awb.org Web site: www.awb.org/ Washington State Hispanic Chamber of Commerce P.O. Box 21925 Seattle, WA 98111 Phone: 206-451-1139 Fax: 206-453-7066 Washington Retail Association 618 Quince St. SE Olympia, WA 98501 Phone: 360-943-9198 Email: info@retailassociation.org U.S. Chamber of Commerce — Northwest Region 3400 188th St. SW, Suite 403 Lynnwood, WA 98037 Phone: 425-774-8094 Website: www.uschamber.com/ Source: Washington Chamber of Commerce Executives

THANK YOU to the Snohomish County community for supporting our efforts to build a worldclass Washington State University facility in the North Puget Sound region. The journey to this point has taken this community more than 40 years and we’re proud that you chose WSU as your partner. We promise to continue building programs targeted to the business needs of this region. The success of our students will be the success of our community. Go Cougs!

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Washington State University North Puget Sound at Everett

Snohomish County has a strong need for college graduates with targeted degrees to maintain the strength of the local economy. Aerospace and advanced manufacturing companies that support our economy need new talent to replace a generation of retiring employees. Thousands of new engineers will need to be hired by those companies by 2020. That’s closer than you think... Beyond aerospace jobs, our state leads the nation in the creation of STEM jobs. However, according to Washington Roundtable, 25,000 jobs, heavily concentrated in the STEM disciplines, went unfilled by employers in 2013 due to a lack of qualified candidates. They’re closer than you think... Washington state ranks 45th in the U.S. for 18-24 year olds in college. Our county’s students are challenged by location, cost and the ability to access the programs they need to get jobs locally.

We’re closer than you think. WSU offers in-demand, degree-completion programs in electrical engineering, mechanical engineering, hospitality business management and integrated communication, with software engineering and data analytics coming soon. 1471800

everett.wsu.edu

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TRANSPORTATION NEWS

Sound Transit considers light rail options City, county officials want light rail to go to Paine Field

“Getting from Everett to Seattle or Seattle to Everett with any predictability is simply not possible on I-5.” — Paul Roberts

By Jim Davis

The Herald Business Journal Editor

Congestion around the region is more than inconvenient; it’s a threat to jobs and businesses. That’s what elected officials say about the bumper-to-bumper traffic that’s only getting worse around the Puget Sound area. “Getting from Everett to Seattle or Seattle to Everett with any predictability is simply not possible on I-5,” said Everett City Councilman Paul Roberts. Now, the 18-member Sound Transit board is

CONTRIBUTED PHOTO

The Sound Transit board is considering alternatives in a tax package heading to voters this fall that would bring light rail to Everett.

putting together a new transit measure called Sound Transit 3 that is expected to go to voters this fall. The new measure

is likely to finish what is called the “spine,” building a light rail corridor from Everett to Tacoma and out to Redmond.

Everett officials would like to see the light-rail line run to Paine Field — where it would serve tens of thousands of Boe-

ing workers — then head north to the Everett Station and end up near Everett Community College. But the Everett leg will be competing against other needs in the region, in particular proposals to build light rail that reaches Ballard and West Seattle. Those proposals would be attractive King County voters. So there might be pressure to build light rail to Everett up I-5 or Highway 99, which would save money for other projects. A Sound Transit study released in early December showed that an I-5 line of light rail would

cost between $2.9 billion to $3.1 billion. A line that runs to Paine Field would cost an estimated $4.6 billion to $4.9 billion. “Building the wrong system might be cheaper, but at the end of the day it’s wrong,” said Roberts, who serves on the Sound Transit board. Everett Mayor Ray Stephanson also strongly supports bringing light rail to Paine Field. “If it’s a straight shot up I-5 and bypasses 100,000 workers (at the Boeing factory), that’s show stopper for me.” Stephanson said. Continued on Page 12

National expertise. Hometown commitment. Community has always been important to Moss Adams—it’s the backbone of our business.

We pride ourselves on offering personal, responsive, partner-level service to businesses and individuals in Snohomish County. More than an accounting firm, we strive to be trusted advisors and responsible members of the communities we serve. If your business thrives, our community thrives—and that’s what it’s all about.

“Moss Adams is a world-class, dominant West Coast firm with deep expertise. But what’s unique about us is our commitment to

serving clients in our local communities,” said Rob Grannum, the partner in charge of the Everett office. “We’ve had a local presence in Snohomish County for almost 50 years, and the partners and people in our Everett office make Snohomish County home.”

That connection puts community growth at the forefront for Moss Adams. We’ve been an avid supporter of the Economic Alliance Snohomish County since its inception. We also support a variety of local charities and organizations. In Snohomish County, Moss Adams serves multiple industries, including aerospace, health care, manufacturing, construction,

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“Our mission is to make a meaningful difference in the lives of our clients and our people—this is something we’re truly passionate about,” Grannum said. “And that really sums up why Moss Adams is in business.”

We’re proud to be a partner in the community.

MARKET FACTS 2016

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Aerospace & Defense | Automotive & Dealer Services | Construction & Real Estate | Financial Services Government, Utilities & Not-for-Profit | Health Care | Manufacturing & Distribution | Private Client Services 1471941

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Continued from Page 10

Light rail options to Everett Route

In Everett Cost (billions) Length Ridership (daily)

Paine Field

Highway 99

I-5

Everett Station via Pacific Avenue

Everett station via 41st Street

Everett Station via Pacific Avenue

Everett station via 41st Street

N/A

$4.643$4.969

$4.460$4.773

$4.266$4.566

$3.987$4.267

$2.902$3.104

15.7 miles

15.1 miles

14 miles

13.5 miles

12.6 miles

43,00058,000

43,00058,000

42,00054,000

42,00054,000

42,00056,000

Travel 38 minutes 35 minutes 34 minutes 31 minutes 25 minutes time

“That’s just unacceptable. I would be hard pressed to support it in 2016 if that’s the case.” Sound Transit operates express bus, commuter rail and light rail in Snohomish, Pierce and King counties. Voters have twice approved tax measures to pay for still-under-construction light rail as well as Sounder commuter train service and bus service. Under the current measure, called Sound Tran-

sit 2, light rail is being extended south to KentDes Moines and north to Lynnwood. Sound Transit expects to open two new stations this spring, one in the Seattle neighborhood of Capitol Hill and the other at Husky Stadium next to the University of Washington. Those stations are opening $150 million under budget and six months early. The agency expects light rail to reach Northgate by 2020 and Lynnwood by 2023. That is being paid for with a 0.9

percent sales tax — or 9 cents on every $10 purchase — across the region and an increase in car tabs. In early December, Sound Transit released cost estimates as well as ridership and travel time projections for dozens of projects that would be paid for if voters approve Sound Transit 3. The agency also put out construction options if the new measure is approved for 15, 20 or 25 years. If approved, a typical adult would pay as much as $200 a year in new taxes. “The decisions this board makes in the next year will shape this region for decades to come,” said Dow Constantine, the King County executive, who also chairs the Sound Transit board. “We’re not going to able to do every single thing that has been suggested, but I know this board is up to finding the best investments.” Sound Transit board members hope to come up with a final package by May or June for voters to consider on the November ballot. After the cost estimates were released in early December, the elected officials from Snohomish County on the If the board goes for a longer tax measure — for instance, the 25-year tax — they will be able to construct more light rail and other transit. But voters have twice rejected Sound Transit measures that have asked for too much. Roberts and Stephanson, who does not serve on the Sound Transit board, said that they might need to do away with some costs — maybe fewer stations, for now — to build the spine. They both said that commuters don’t care about any one region, Roberts said. “People don’t go to work in one region and live in one region and only care about the one region,” Roberts said. It’s going to be a delicate, difficult negotiation to get to the right package that the board can support, the elected officials can support and most importantly the voters can support, Stephanson said. “It’s not going to do Snohomish County any good if we get everything we want and the voters of King County vote it down and vice versa,” Stephanson said.

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YEAR IN REVIEW

2015: The year of the deal The Herald Business Journal Staff

It’ll probably be written about in business textbooks, explored in college classrooms. Haggen Food & Pharmacy surprised everyone by buying 146 grocery stores during the Albertsons-Safeway merger. Within months, problems emerged and the fallout could threaten the very existence of the Bellingham grocer. Haggen’s big-deal-gone-sideways headlines the top business news stories of 2015. And it will likely continue to make headlines for months to come. Another surprise came when Arlington’s MicroGreen Polymers, once a darling of the clean-tech industry with its eco-friendly cups, suddenly shut its doors. Other business news included an Everett developer who was accused of defrauding foreign investors, union members protesting a decision by Boeing to locate a plant in China and major health institutions in the Puget Sound area announcing intentions to merge. One deal that fell apart was the one between Everett’s Coastal Community Bank and Lynnwood’s Prime Pacific Bank, two of the county’s remaining community banks. On the bright side, Boeing’s KC-46 aerial refueling tanker finally got off the ground after months of delay. “The Air Force is going to love it,” a retired Boeing worker said at the time.

1. Haggen’s spectacular failure Haggen grabbed headlines this year with the $300 million acquisition of 146 stores from Albertsons and Safeway. With the deal, Haggen went from 18 stores with 16 pharmacies in Washington and Oregon to 164 grocery stores with 106 pharmacies all over the West Coast. The company also went from 2,000 employees to more than 10,000, almost overnight. Haggen took over the first of the new stores on Feb. 1, a former Albertsons in Monroe. It quickly became a case of the minnow choking on the whale. The chain faced pricing problems. And then stock problems. By September, Haggen sued Albertsons for $1 billion over the deal. A little more than a week after that, Haggen filed for bankruptcy with a plan to sell or close many of the new stores and reorganize around its core profitable ones. That might not work out. Haggen has asked permission from the bankruptcy court to auction its 37 remaining profitable stores. A hearing is scheduled for January. Independent supermarket researcher David Livingston criticized Haggen during the summer. “They didn’t have the wherewithal to

THE ASSOCIATED PRESS

Chinese President Xi Jinping (right) and Boeing Commercial Airplanes President and CEO Ray Conner talk during a tour of the Boeing assembly line in Everett in September.

OLIVER LAZENBY / THE BELLINGHAM BUSINESS JOURNAL

Shelves were bare at a Haggen in Bellingham in mid-September.

do this deal,” Livingston said. “They were pretty much set up by Albertsons. Albertsons was able to pick exactly who they wanted to take over their stores and they picked the weakest competitor. Were they duped? Yeah, no one argues that.”

2. MicroGreen’s sudden closure Arlington’s MicroGreen Polymers attracted $80 million in investment for

its 8-ounce InCycle coffee cup that was supposed to be cheaper, more durable and more eco-friendly than traditional foam or coated paper cups. Major airlines were serving coffee in the cups. And MicroGreen won a host of industry honors. MicroGreen spent years developing the environmentally friendly cup. And then it all came crashing down. The company struggled to raise tens of millions of dollars needed to ramp up production quickly enough to meet demand and cover the company’s expenses. In January, the Confederated Tribes of Grand Ronde in Oregon, MicroGreen’s biggest investor, tired of the company failing to make a profit and forced out the company’s longtime chief executive officer, Tom Malone. By April, Microgreen closed, leaving 160 people without work. MicoGreen’s assets — including the technology behind the cups — were bought at auction for $3.5 million in October by Dart Container, the maker of the red Solo cups.

MARKET FACTS 2016

THE HERALD BUSINESS JOURNAL 15

YEAR IN REVIEW 3. Developer accused of fraud Everett developer Lobsang Dargey had been a bright spot for downtown Everett. In 2011, he built the $22 million Potala Village development on Pacific Avenue. And he went on to build a $60 million Potala Place and Farmer’s Market at Grand Avenue and Wall Street. “I love Everett,” Dargey said in 2014. “Everett is like a jewel that not been discovered yet.” Just as the second project was opening, the Securities and Exchange Commission accused Dargey of defrauding foreign investors of millions of dollars. Dargey had raised $125 million from Chinese nationals for Potala Place and another project in Seattle, Potala Tower. The investments came through a federal program called EB-5, which offers a shortcut to a U.S. visa if someone invests in a project that creates jobs in the country. The SEC alleges that Dargey misused and misappropriated millions, including spending money shopping at luxury stores and trips to casinos in Washington and Las Vegas. Dargey’s attorneys have said that the SEC is overstating its case, which comes down to sloppy bookkeeping and not fraud. The case is ongoing.

KEVIN CLARK / THE HERALD

Justin Standish labels equipment with lot numbers for the now-defunct MicroGreen Polymers’ in Arlington this summer. The company suddenly shut down in spring 2015.

and continue to be led by a physician board, said Rick Cooper, the clinic’s chief executive. Patients would notice little change, he said, either in dealing with a physician or with insurance issues. “It will be business as usual,” he said. Both deals needed to be agreed to by shareholders as well as insurance regulators.

4. Tanker’s first flight It had the makings of a festive morning. And then everybody held their breath collectively. After months of delay and hundreds of millions of dollars in cost overruns, Boeing’s KC-46 tankers was scheduled for its first flight at Paine Field one morning in late September. But a cool and foggy morning delayed takeoff. Dozens who gathered to watch the plane finally take off, took shelter in the coffee shop of the Future of Flight Aviation Center. By the afternoon, the flight was back on. The plane left Everett at 1:24 p.m. and landed four hours later in Seattle. Boeing is scheduled to deliver 18 combat-ready tankers to the U.S. Air Force by August 2017. The planes will replace the KC-135 Stratotankers, which entered service decades ago. Military pilots have joined Boeing pilots on testing the new plane.

5. Boeing in China Chinese president Xi Jinping flew to Everett, toured the Boeing plant and spent 48 hours in the Puget Sound area. During the visit, Boeing received an order for 300 jets from Chinese companies. Xi left with a commitment from the plane maker to build a 737 finishing plant in China, the company’s first plant outside the U.S.

7. Bank merger denied

COURTESY PHOTO BY THE BOEING CO.

Boeing’s first KC-46 aerial refueling tanker deploys its refueling boom for the first time during a test flight accompanied by a U.S. Air Force fighter jet.

Boeing follows Airbus’ lead in placing a plant in China; the European airplane maker opened one there in 2008. Boeing Commercial Airplanes President and CEO Ray Conner told workers that the new plant would not reduce 737 Program employment in Washington. That didn’t prevent union workers from protesting outside the Everett and Renton plants during Xi’s visit. “The more capacity created outside Washington, the harder it makes it for aerospace workers in Washington to compete,” said Jon Holden, president of District Lodge 751 of the International Association of Machinists and Aerospace Workers.

6. Health care mergers planned The Everett Clinic was founded in 1924. Group Health started in 1947. Both have become institutions in the Puget Sound area. And both were potentially merging with larger health care companies. The Everett Clinic announced plans in September to merge with Denver, Coloradobased DaVita Healthcare. In December, Group Health announced that it was being purchased by Kaiser Permanente, based in Oakland, California. The Everett Clinic will keep its name

There was some poetry to the idea: The largest bank headquartered in Snohomish County would merge with the oldest. But it was not to be. Everett’s Coastal Community Bank and Lynnwood’s Prime Pacific announced plans to combine in April. Coastal, with 11 branches, is mainly based in central and northern Snohomish County. Prime Pacific, with three branches, is based in the southern part of Snohomish and northern part of King County. Coastal hoped to expand to the south with the merger. When the merger was announced, Prime Pacific was still operating under a consent order from the federal Office of the Comptroller of the Currency, the result of what the government called unsafe and unsound banking during the recession. In June, Prime Pacific was released from that order. And Prime Pacific was on track to have three consecutive profitable years. With the improved financial footing, Prime Pacific’s shareholders voted down the merger in October.

16 THE HERALD BUSINESS JOURNAL

MARKET FACTS 2016

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STATISTICAL SNAPSHOT

Listing of Snohomish County aerospace companies Manufacturing-finishing 5712 207th Ave. SE, Snohomish 425-742-7665 A.E. Petsche

Wiring-supplies 2525 W. Casino Road, Everett 425-227-6047 www.aepetsche.com Absolute Manufacturing

Machining 6914 204th St. NE, Arlington 360-435-1116 www.absolutemfg.com Accra Manufacturing

Machining 17703 15th Ave. SE, Bothell 425-424-1000 www.accramfg.com Accurate Machining

Machining 12128 Cyrus Way, Mukilteo 425-745-0227 ACRO Machining

Machining 3817 168th St. NE, Arlington 360-653-1492 www.acromachining.com Action Grinding and Machining

Machining 17611 OK Mill Road, Snohomish 425-742-3917 www.agmco.net Advanced Designs (B&C Manufacturing)

Machining 2919 Pine St., Everett 425-787-9968

Advanced Prototype Technologies

Prototyping 4208 Russell Road, Mukilteo 425-315-8605 Aero Mac

Machining 4602 Chennault Beach Road, No. 1, Mukilteo 425-348-4140 www.aeromacinc.com AeroAcoustics

Consulting-design 9802 29th Ave. W, Everett 425-438-0215 www.aeroacoustics.com Aeroform Company

Sheet metal-welding 15008 Smokey Point Blvd., Marysville 360-659-4044 www.aeroforminc.com AeroMech

RSVM Certification 1616 Hewitt Ave., Everett

425-252-3236 www.aeromechinc.com Aeronautical Testing Service

Aircraft design, certification and testing 18820 59th Drive NE, Arlington 360-435-8859 www.aerotestsvc.com Aerospace Consulting

Consulting-design 8928 Vernon Road, Everett 425-377-9525

Aircraft Maintenance and Support (division of LRT)

Maintenance 15712 Mill Creek Blvd., Mill Creek 425-742-0333 www.lrt-inc.com Aircraft on Ground

3100 112th St. SW, Everett www.aoginc.com AIT Design

Consulting-design 22745 29th Drive SE, Bothell 425-398-7329 www.aint.com AMT (Senior PLC)

Machining 20100 71st Ave. NE, Arlington 360-435-1119 www.amtnw.com Apache Aerospace

Manufacturing-tooling 9700 Harbour Place, Mukilteo 425-349-5800 www.apacheaerospace. com Applied Aerosystems

Surface treatment-paint 10727 47th Place W, Mukilteo 425-876-7615 Applied Finishing

425-423-3016 www.atsmro.aero

Instrumentation 3500 188th St. SW, Lynnwood 425-248-2188 www.avtcorp.com Avtech/Tyee

Sheet metal-welding 6500 Merrill Creek Parkway, Everett 425-622-8664 www.tyeeaircraft.com B/E Aerospace/Flight Structures (FSI)

Manufacturing-systems, components, ancillary equipment 6330 31st Ave. NE, Marysville 360-657-5197 www.beaerospace.com

Ballard Technology (division of Astronics)

Designs-manufacture 11400 Airport Road, Everett 425-339-0281 www.ballardtech.com Barton Machine

Machining 11400 Airport Road, Everett 425-438-1161 www.bartonmachine.com Blue Streak Finishers

Manufacturing-finishing 1520 80th St. SW, Everett 425-347-1944 www.bluestreak-finishers.com BMG Industries

Machining 19111 61st Ave. NE , Arlington 360-435-3928 Boeing Commercial Airplanes

Finishing 4216 Russell Road, Mukilteo 425-513-2505

Aircraft covers 19018 59th Drive NE, Arlington 360-435-0342 www.aviationcovers.com

Manufacturing-systems, components, ancillary equipment 9730 29th Ave. W, Everett 425-353-6591 www.blrvgs.com

Aviation Instrument Service International

Avionics repair-installation 8223 44th Ave. W, Mukilteo 425-347-7677 www.aviationinstrument. com Aviation Technical Services (ATS)

Maintenance-fixed wing 3100 112th St. SW, Everett

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Aviation Technologies (AvTech)

Manufacturing-structures 3003 W Casino Road, Everett www.boeing.com

Aviation (Cunningham) Aircraft Covers

Prime Pacific

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THE HERALD BUSINESS JOURNAL 17

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Contract manufacturing 1220 75th St. SW, Everett 425-513-8213 www.bridgeways.org Bucher Aerospace Corp.

Manufacturing-systems, components, ancillary equipment 11400 Airport Road, Everett

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18 THE HERALD BUSINESS JOURNAL

MARKET FACTS 2016

STATISTICAL SNAPSHOT

Listing of Snohomish County aerospace companies 425-355-2202 www.bucher-group.com Can Am Aerospace

Avionics repair-installation 3101 111th St. SW, Everett 877-523-2945 www.canamaero.com Cannon Aircraft Interiors

Interiors, completion 10108 32nd Ave. W , Everett 425-348-6924 www.cannonaircraftinteriors.com Carbon Aerospace

Composites 1000 SE Everett Mall Way, Everett www.carbon-aero.com Cascade Aviation Services

Interiors, completion 9800 Harbor Place, Mukilteo 425-493-1708 www.cascade-aviation.com Cascade Precision

Machine shop 10809 47th Ave. W, Mukilteo 425-742-0888 www.caspre.com Castle and Cook Aviation

Fixed base operator 9724 32nd Place W, Everett 425-355-6600 www.castlecookeaviation.com Cayley Aerospace

Engineering-technical services 18830 38th Ave, Lynnwood 425-710-9701 www.cayleyaerospace.com CNA Manufacturing Systems

Manufacturing-tooling 15000 Woodinville-Redmond Road NE, Woodinville 425-482-7977 www.cnaflextool.com Coastal Manufacturing

Sheet metal fabricated components, assemblies 6700 Hardeson Road, Everett 425-407-0624 www.coastal-mfg.com Cobalt Enterprises

Machining 10917 Mountain Loop Highway, Granite Falls 360-691-2298 www.cobaltent.com Coleman Machine

Machining 12426 Mukilteo Speedway, Mukilteo 425-743-4910 Color-Tech (division of ASKO)

Finishing 6304 215th St SW, Mountlake Terrace 206-634-2089 www.askogroup.com/ companies/colortech Commet Precision Products

Machine shop 15328 Highway 530 NE, Arlington 360-403-7800 Component Products Corporation

Machining 11623 Cyrus Way, Mukilteo 425-355-6800

www.cpc-web.com Composites One

Materials-composites 19105 63rd Ave. NE, Arlington 800-283-0809 www.compositesone.com Covelet Machine and Design

Machine shop 13115 41st Ave. NE, Marysville 360-658-1977 Craig Craft Powder Coating

Finishing 11324 Mukilteo Speedway, Mukilteo 425-743-4393 Crane Aerospace - Eldec Corp.

Manufacturing-systems, components, ancillary equipment 16700 13th Ave. W, Lynnwood 425-743-8291 www.craneaerospace.com Crown Aviation

General aviation 10300 28th Ave. W, Everett 425-355-4088 www.crownaviation.com

Edmonds 425-775-2100 Esterline Control Systems

Electronics 11910 Beverly Park Road, Everett 425-297-9700 www.esterline.com Excell Aerofab

Machining 19222 62nd Ave. NE, Arlington 360-403-8994 Exotic Tool Welding

Sheet metal, welding 2909 Seaway Blvd., Everett 425-353-3040 www.exotictoolwelding.com Fokker Aerostructures

12121 Harbour Reach Drive, Mukilteo 206-3845644 www.fokkeraerostructures.com G&M Manufacturing

Machining 19009 61st Ave. NE, Arlington 360-435-5966

Curtiss-Wright Flight Systems

Manufacturing-systems, components, ancillary equipment 10108 32nd Ave. W, Everett 425-355-4422 D3 Technologies

Consulting, design 8223 44th Ave. W, Mukilteo 425-355-4903 www.d3tech.com Damar Machine

Machining 14767 172nd Drive SE, Monroe 360-794-4448 www.damaraerosystems.com Diehl Aerospace

Aircraft interior lighting 11002 29th Ave. W, Everett 425-353-8080 www.diehlaerospace.com/DAI Diversified Industrial Services.

Sheltered workshops 13008 Beverly Park Road, Mukilteo 425-355-1253 www.godiversified.com DTL Canyon Park

Testing 2200 222nd St. SE, Bothell 425-964-2715 www.dtl-inc.com Eaton Aerospace

Semiconductors, related devices 6500 Harbour Heights Parkway, Mukilteo 425-349-5281 www.eaton.com EDJ Precision Machine

Machining 13317 Ash Way, Everett 425-745-3937 www.edjprecision.com Electroimpact

Manufacturing-tooling 4604 107th St. SW, Mukilteo 425-348-8090 www.electroimpact.com Ericson International

Consulting, design

GE Aviation Systems

Manufacturing-systems, components, ancillary equipment 6500 Harbour Pointe Heights, Mukilteo 509-248-5000, 425-245-0500 www.geaviationsystems.com General Aerospace

Interior parts 3500 188th St. SW, Suite 480, Lynnwood (425) 673-7523 www.general-aero.com Giddens Industries

Materials-plastics 2600 94th St. SW, Everett 425-353-0405 www.giddens.com Glasair Aviation

Kitplane manufacturers 18810 59th Ave. NE, Arlington 360-435-8533 www.glasairaviation.com Global Machine Works

Machining 19130 59th Drive NE, Arlington 360-403-8432 www.globalmachineworks.com Gomph Brackets

Materials-plastics 12426 Mukilteo Speedway, Mukilteo 425-348-5002 www.gompf.com Greenpoint Technologies

Interior reconfigurations 3101 111th St. SW, Everett 425-828-2777 www.greenpnt.com Gunnar USA

Composites Matt Cutting 3810 166th Place NE, Suite 102, Arlington, (360)-657-5291 H&H Machine

Machining 22824 85th Place W, Edmonds 425-776-1994 HDI Landing Gear USA

Landing gear 6301 36th Ave W., Everett 440-783-5255 www.herouxdevtek.com HGS Aerospace

Assembly systems 22121 17th Ave. SE, Bothell 586-293-8660 www.hgsaero.com

Keltia Design

Training, recruiting, design 16824 44th Ave. W, Lynnwood 206-734-4658 King Machine

Machining 11710 Cyrus Way, Mukilteo 425-743-5464 KitPlanes Northwest

Machining 12402 Evergreen Drive, Mukilteo 425-745-1775

Kit airplane manufacturer, aircraft service, maintenance 17415 51st Ave. NE, Arlington 360-403-0679 www.kitplanesnorthwest.com

Honeywell

Koch Machine and Tool

Honeycutt Machine

Manufacturing-systems, components, ancillary equipment 3215 97th Place SW, Everett Horizon Manufacturing Industries

Machining 11417 Cyrus Way, Mukilteo 425-493-1220 www.horizonman.com

Machining 19010 66th Ave. NE, Arlington 360-474-8017 Kuka Systems

Robotics 6300 Merrill Creek Parkway, Everett www.kuka-systems.com

HR Givon

Labinal

Manufacturing - Other 2300 Merrill Creek Parkway, Everett (425) 355-3330 www.hrgivon.com

Manufacturing-systems, components, ancillary equipment 2300 Merrill Creek Parkway, Everett 425-438-1378 www.labinal.com

ID Integration

Consulting, design 13024 Beverly Park Road, Mukilteo 425-438-2533 www.id-integration.com

LaFarge & Egge

IDL Precision Machining

Lamar Technologies Corp.

Machining 11600 49th Place W, Mukilteo 425-315-8080 Infinity Fabrication

Machining 19225 62nd Ave. NE, Arlington 360-435-7460 www.infinityfabrication.com Innovative Technologies

Materials-plastics 3318 Hill Ave., Everett 425-258-4773 www.innovativetechnologies.biz International Gear Technologies

Precision gears 3101 111th St. SW, Everett 425-353-4300 www.igtcorporation.com J.R. Engineering (Quietly Superior)

Consulting, design 1902 120th Place SE, Everett 425-337-9472 www.quietlysuperior.com K&T Machine

Machining 12315 Mukilteo Parkway, Lynnwood 425-347-2157 Kaas Taylored

Interiors, completion 13000 Beverly Park Road, Mukilteo 425-743-1886 www.kaastailored.com Kaman Engineering Services (Global Aerosystems)

Consulting, design 10108 32nd Ave. W, Everett 425-367-4477 www.globalaerosystems.com

Sheet metal-welding 5820 188th St. SW, Lynnwood 425-778-4123 www.lafargeinc.com Manufacturing-voltage regulators 14900 40th Ave. NE, Marysville 360-651-6666 www.lamartech.com Laz Tool & Manufacturing

Manufacturing-tooling 14816 Roosevelt Road, Snohomish 360-568-5749 www.laztool.com Liebherr-Aerospace SAS

Manufacturing-systems, components, ancillary equipment 906 SE Everett Mall Way, Everett 425-348-9070 www.liebherr.com LMI Aerospace

Manufacturing 1910 Merrill Creek Parkway, Everett 425-293-0304 www.in-tec.com Lord Corporation

Materials-composites 1230 233rd Place SW, Bothell 425-488-3292 www.lord.com Lytle Machine

Machining 7327 Olympic Drive, Everett 425-290-3538 MDI (Manufacturing Design)

Machining 4420 Russell Road, Mukilteo 425-356-2648 www.mfgandesign.com Messier Dowty - Bugati

Wheels, tires, brakes

MARKET FACTS 2016

7501 Hardeson Road, Everett 425-4381378 www.messier-bugattiusa.com Metal Motion

Machining 19003 59th Drive NE, Arlington 360-403-7330 www.metalmotion.com Metal Tech

Manufacturing-finishing 14792 172nd Drive SE, Monroe 360-794-1945 Microjet

Materials-metals 16372 177th Ave. SE, Monroe 360-805-9400 Miller Screw Products

Machining 3400 Academy Drive SE, Bothell 253-939-7340 Mobile Tool Manage

Tooling 11323 Commando Road W, Everett 425-438-8127 www.mobiletoolmanagement. com MOOG Aircraft Group

Machining 19011 62nd Ave. NE, Arlington 360-435-7170

Onamac Industries

Machining 11504 Airport Road, Everett 425-743-6676 www.onamac.com/home

New Breed Logistics

Logistics 2600 94th St. SW, Everett 425-249-5000 www.newbreed.com

Orion Technologies

Consulting, design 20230 82nd St. SE, Snohomish 360-668-8355 www.oriontechnologies.net

New Tech Industries

Consulting, design 7911 44th Ave. W, Mukilteo 425-778-1200 www.newtechind.com

PAC-Aero

Machining 2720 34th St., Everett 425-258-2741

Newell Corporation

Maintenance-accessories, components 6922 204th St. NE, Arlington 360-435-8955 www.newellcorp.com

Pacifica Engineering

Consulting, design 21520 30th Drive SE, Bothell 425-984-2700 www.pacifica-engineering.com

Northway Products

Machining 11027 47th Ave. W, Mukilteo 425-742-4498 www.northwayproducts.com

Panasonic Avionics

Manufacturing-avionics 22333 29th Drive SE, Bothell 425-415-9053 www.panasonic.aero

Northwest Aerospace Technologies

Conversion-modification 2210 Hewitt Ave., Everett 425-257-2044 www.natdesign.com

Manufacturing-systems, components, ancillary equipment 808 134th Ave. SW., Everett 425-787-8673 www.moog.com

Novator

Morgan Aero Products

Novatech Engineering

Maintenance-accessories, components 1450 80th St. SW, Everett 425-438-9600 www.morganaero.com

7929 44th Ave. W, Mukilteo 425-356-3124 www.ometech.net

Morgan Branch CNC

Tooling 2615 W Casino Road, Unit 2B, Everett www.novator.eu Consulting & Design 20818 44th Ave. W, Lynnwood 425-245-7000 www.ntew.com

Paragon Manufacturing

Wire harness 2615 W. Casino Road, Everett 425-438-0800 www.paragonmfgcorp.com Para-Phernalia

Supplies 19018 59th Drive NE, Arlington 360-435-7220 www.softieparachutes.com Pentar Avionics Systems

Omega Precision

Manufacturing

Manufacturing-avionics 22125 17th Ave. SE, Bothell 425-424-3370

www.pentar.com Pineda Precision

Machining 13127 Beverly Park Road, Everett 425-290-5928 Plexus Manufacturing Inc.

Materials-plastics 4416 Russell Road, Mukilteo 425-348-7745 www.plexusman.com/about us Polaris Machining and Sheet Metal

Machining 103 Cedar Ave., Marysville 360-653-7676 www.polarismachining.com Precision Airmotive

Manufacturing-systems, components, ancillary equipment 14800 40th Ave. NE, Marysville 360-651-8282 www.precisionairmotive.com Precision Circuits

Manufacturing-systems, components, ancillary equipment 18025 Highway 99, Lynnwood 425-778-4980 Precision Engines

General aviation 3220 100th St. SW, Everett 425-347-2800 www.precisionengines.com Precision Fuel Components

Manufacturing-systems, components, ancillary equipment 3220 100th St. SW, Everett 425-513-6789 www.precisionfuel.com Precision Logistics

Supplies 1318 Pioneer Highway, Silvana 360-652-3333

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THE HERALD BUSINESS JOURNAL 19

www.skypac.com Pro Tool Manufacturing

Manufacturing-tooling 12414 Highway 99 S, Everett 425-353-0763 www.ptmcorp.com Procam Machine

Machining 18421 Bothell-Everett Highway, Mill Creek 425-485-9889 www.procammachine.com Production Plating

Plating, powder coating services 4412 Russell Road, Mukilteo 425-347-4635 www.productionplating.com Quality Industrial Services

Sheet metal-welding 7529 Beverly Blvd., Everett 425-348-8825 Qualtest Consultants

Consulting, design 10121 Evergreen Way, Everett 425-347-7266 www.qtccorp.com Queen City Plating

Finishing 11914 Cyrus Way, Mukilteo 425-315-1992 RBM Machining

Machine shop 12108 Mukilteo Speedway, Mukilteo 425-743-5373 www.rbmachining.com RG Machine

Machine shop 2100 196th St. SW., Lynnwood 425-775-7009 www.rgmachine.com

20 THE HERALD BUSINESS JOURNAL

MARKET FACTS 2016

STATISTICAL SNAPSHOT

Listing of Snohomish County aerospace companies 425-245-0500 www.smiths-aerospace.com

Rockwell Collins

Manufacturing-systems, components, ancillary equipment 3350 Monte Villa Parkway, Bothell 425-492-1318 www.rockwellcollins.com Rolls Royce North America

Consulting, design 6300 Merrill Creek Parkway, Everett 425-349-4100 www.rolls-royce.com Royell Manufacturing

Machining 3817 Smith Ave., Everett 425-259-9258 www.royell.com Ryerson-Microjet

Sheet metal-welding 3506 124th St. NE, Marysville 360-657-5700 www.ryerson.com Scott Aviation

Materials-other 19807 Yew Way, Snohomish 360-668-7793 Sealth Aero-Marine

Materials-metals 16001 Mill Creek Blvd., Mill Creek 425-481-0727 www.sealth.com Sextant Avionique

Materials-other 2615 W. Casino Road, Everett 206-355-7112

Soundair Aviation Services

Maintenance-accessories, components 1826 Bickford Ave., Snohomish 360-453-2300 www.soundair.com Star Aviation

Engineering, technical services 728 134th SW, Everett www.staraviation.com Steel-Fab

Materials-metals 6525 188th St NE, Arlington 360-435-5564 www.steel-fab.com Stoddard International

Materials-composites 18660 58th Ave. NE, Arlington 360-435-6455 www.stoddardintl.com Structural Integrity Engineering

Consulting, design 909 SE Everett Mall Way, Everett 425-710-7646 www.sieinc.com Systima Technologies

Engineering, technologies 1832 180th St. SE, Bothell 425-487-4020 www.systima.com TNT Enterprises

Sheet metal-welding 17121 3rd Ave. SE, Mill Creek 425-742-8210 www.tntsheetmetal.com

Smiths Aerospace

Manufacturing-systems, components, ancillary equipment 6500 Harbour Heights Parkway, Mukilteo

Talon Manufacturing

Machining 17617 49th Place NE, Arlington

Maintenance-accessories, components 17611 OK Mill Road, Snohomish 425-742-3917 www.tciscales.com Technofan

Other aircraft parts, auxiliary equipment manufacturing 7501 Hardeson Road, Everett 425-438-1378 www.technofan.fr TECT Aerospace

Manufacturing-systems, components, ancillary equipment 11002 29th Ave. W, Everett 425-353-8080 www.tectcorp.com Terry’s Machine and Manufacturing

Machining 12128 Cyrus Way, Mukilteo 425-315-8866 www.terrysmachine.com

Triumph Structures (formerly Contour Aerospace)

Machining 1415 75th St. SW, Everett 425-438-7101 www.contouraerospace.com TRW - Lucas Aerospace

Manufacturing-systems, components, ancillary equipment 6700 Hardeson Road, Everett 425-407-1191

Umbra Cuscinetti

Aerospace 2916 100th St. SW,

Vaupell

Universal Aerospace

Manufacturing-systems, components, ancillary equipment 18640 59th Drive NE, Arlington 360-435-9577 www.universalaerospace.com University Swaging - (Primus)

Swaging 6525 240th St. SW, Woodinville 425-318-4500 www.primusint.com/

Injection molding 10108 32nd Ave. W, Everett www.vaupell.com Vector Industries

Machining 1520 80th St. SW, Everett 425-347-6696 www.vectorindustries.com Walter Dorwin Teague (Teague)

UTC-Aerostructures

Engine integration 2615 94th St. SW, Everett 425-923-1848 www.goodrich.com UTC-Interiors

Maintenance-fixed wing 6700 Hardeson Road, Everett 425-771-1214 www.goodrich.com UTC-Sensors & Integrated Systems

Manufacturing-systems, components, ancillary equipment 6700 Hardeson Road, Everett 425-407-1191 www.goodrich.com

UTC Aerospace Systems -Landing Gear

Manufacturing-structures 2701 94th St. SW, Everett 425-261-8700 www.goodrich.com

Turning Point Machining

Machining 710 Ash Ave., Marysville 425-252-7300

www.valberglls.com

Everett 425-743-2577 www.umbrausa.com

360-403-8910 TCI Scales

Valberg

Electronic design, manufacturing, control panels, harness building 14286 169th Drive SE, Monroe 360-794-9885

Consulting, design 6600 Merrill Creek Parkway, Everett 425-342-2270 www.teague.com Western Fluid Components

Machinery equipment 2303 Pacific Ave., Everett 425-252-0974 www.westernfluidcomp.com Westwood Precision

Machining 7509 Hardeson Road, Everett 425-742-7011 www.westwoodprecision.com Wood Associates

Consulting, design 9128 52nd St. SE, Snohomish 425-335-1327 XP Modifications

Manufacturing-systems, components, ancillary equipment 18306 59th Drive NE, Arlington 800-819-9270 www.xpmods.com Zodiac Aerospace

Manufacturing 6300 Merrill Creek Parkway, Everett 425-347-4919 www.zodiacaerospace.com.

Selected occupational wages in Everett-Seattle-Bellevue Employees

Hourly

Annual

Budget Analysts

1,350

$37.17

$77,320

All Occupations

1,761,920

$27.58

$57,370

Personal Financial Advisors

2,850

$59.00

$122,730

Management Occupations

90,100

$59.21

$123,150

Insurance Underwriters

1,460

$38.51

$80,100

Chief Executives

2,570

$106.68

$221,900

Loan Officers

3,680

$33.96

$70,640

General and Operations Managers

20,930

$62.35

$129,680

116,150

$50.16

$104,320

Marketing Managers

4,070

$67.71

$140,850

Sales Managers

5,770

$60.07

$124,940

Computer Systems Analysts

12,140

$48.64

$101,170

Financial Managers

7,520

$58.57

$121,820

Computer Programmers

12,590

$57.16

$118,880

Purchasing Managers

1,440

$62.32

$129,630

Software Developers, Applications

46,010

$56.27

$117,040

Food Service Managers

1,910

$26.31

$54,720

8,930

$55.58

$115,600

Property, Real Estate, and Community Association Managers

2,440

$38.34

$79,740

4,040

$41.64

$86,610

Business and Financial Operations Occupations

124,090

$37.75

$78,510

5,650

$41.64

$86,610

3,710

$35.54

$73,920

Compliance Officers Human Resources Specialists

8,170

$35.17

$73,150

Management Analysts

12,320

$49.50

$102,950

Market Research Analysts and Marketing Specialists

12,040

$39.88

$82,960

Business Operations Specialists, All Other

21,050

$36.63

$76,200

17,320

$36.88

$76,720

Accountants and Auditors

Computer and Mathematical Occupations

Software Developers, Systems Software Web Developers Network and Computer Systems Administrators

10,360

$28.39

$59,040

Architecture and Engineering Occupations

Computer User Support Specialists

53,790

$43.85

$91,210

Architects, Except Landscape and Naval

2,510

$36.23

$75,350

Civil Engineers

6,580

$41.29

$85,880

Computer Hardware Engineers

1,460

$51.34

$106,800

Electrical Engineers

4,290

$50.58

$105,200

MARKET FACTS 2016

Environmental Engineers

900

$44.80

$93,190

Mechanical Engineers

4,120

$45.37

$94,380

Mechanical Drafters

2,010

$36.68

$76,290

Surveying and Mapping Technicians

600

$26.25

$54,600

18,960

$35.29

$73,400

Biochemists and Biophysicists

310

$40.20

$83,620

Microbiologists

380

$33.38

$69,430

Zoologists and Wildlife Biologists

790

$38.19

$79,440

Biological Scientists, All Other

660

$37.28

$77,540

2,350

$37.11

Economists

170

Urban and Regional Planners Biological Technicians

Life, Physical, and Social Science Occupations

THE HERALD BUSINESS JOURNAL 21

Education, Training, and Library Occupations

94,250

$26.28

$54,650

Vocational Education Teachers, Postsecondary

2,740

$27.05

$56,270

Preschool Teachers, Except Special Education

4,820

$14.27

$29,690

Self-Enrichment Education Teachers

4,550

$21.93

$45,610

Substitute Teachers

8,830

$18.79

$39,090

Librarians

1,800

$33.13

$68,920

Instructional Coordinators

1,200

$30.10

$62,610

$77,180

Education, Training, and Library Workers, All Other

1,980

$24.60

$51,170

$27.52

$57,240

$86,570

Arts, Design, Entertainment, Sports, and Media Occupations

30,000

$41.62

1,200

$39.93

$83,050

Multimedia Artists and Animators

1,840

$36.71

$76,360

1,960

$22.10

$45,970

Graphic Designers

3,130

$28.59

$59,460

Community and Social Service Occupations

24,990

$21.78

$45,290

Interior Designers

1,440

$25.31

$52,630

Educational, Guidance, School, and Vocational Counselors

2,440

$27.55

$57,310

Producers and Directors

1,580

$32.75

$68,130

Reporters and Correspondents

420

$21.18

$44,050

Mental Health Counselors

1,530

$21.00

$43,680

Public Relations Specialists

2,890

$31.46

$65,430

Rehabilitation Counselors

3,860

$18.61

$38,720

Editors

1,760

$33.08

$68,800

3,140

$23.43

$48,740

Technical Writers

880

$39.84

$82,860

Writers and Authors

930

$35.00

$72,800

Environmental Scientists and Specialists, Including Health

Child, Family, and School Social Workers Healthcare Social Workers

1,910

$28.07

$58,390

Mental Health and Substance Abuse Social Workers

1,310

$22.74

$47,300

Social and Human Service Assistants

5,290

$14.90

$30,990

14,320

$48.37

Legal Occupations

Photographers

920

$15.52

$32,280

86,770

$41.18

$85,660

Dentists, General

1,400

$89.38

$185,920

$100,620

Dietitians and Nutritionists

1,050

$31.97

$66,490

3,050

$57.82

$120,260

Healthcare Practitioners and Technical Occupations

Lawyers

8,130

$62.06

$129,080

Pharmacists

Judicial Law Clerks

250

$26.19

$54,470

Physician Assistants

1,090

$52.77

$109,760

530

$46.62

$96,960

Speech-Language Pathologists

1,520

$35.53

$73,910

Veterinarians

870

$42.91

$89,250

Judges, Magistrate Judges, and Magistrates Paralegals and Legal Assistants

3,590

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$60,920

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22 THE HERALD BUSINESS JOURNAL

MARKET FACTS 2016

STATISTICAL SNAPSHOT

Selected occupational wages in Everett-Seattle-Bellevue Registered Nurses

29,680

$39.83

$82,840

Receptionists and Information Clerks

12,070

$15.43

$32,100

Nurse Practitioners

1,370

$48.68

$101,250

Shipping, Receiving, and Traffic Clerks

10,030

$17.80

$37,020

Dental Hygienists

3,190

$45.42

$94,480

Office Clerks, General

24,890

$16.13

$33,560

Radiologic Technologists

2,200

$34.54

$71,840

2,190

$17.04

$35,450

1,310

$30.51

$63,450

80

$29.04

$60,400

5,520

$12.68

$26,370

Graders and Sorters, Agricultural Products

330

$13.90

$28,900

Farmworkers and Laborers, Crop, Nursery, and Greenhouse

770

$12.23

$25,430

Farmworkers, Farm, Ranch, and Aquacultural Animals

180

$18.36

$38,180

120

$11.62

$24,160

Emergency Medical Technicians and Paramedics Home Health Aides Nursing Assistants

11,750

$15.02

$31,230

32,400

$25.77

$53,610

Firefighters

3,740

$36.33

$75,570

Correctional Officers and Jailers

2,430

$26.66

$55,450

720

$48.25

$100,350

Police and Sheriff’s Patrol Officers

4,200

$38.03

$79,100

Security Guards

12,380

$16.07

$33,420

146,710

$12.80

$26,620

Cooks, Restaurant

14,450

$12.88

$26,790

Food Preparation Workers

12,250

$11.87

$24,690

Bartenders

8,070

$15.48

$32,190

Combined Food Preparation and Serving Workers, Including Fast Food

32,240

$10.72

$22,300

Counter Attendants, Cafeteria, Food Concession, and Coffee Shop

8,880

$10.86

$22,590

27,340

$14.22

$29,580

Protective Service Occupations

Detectives and Criminal Investigators

Food Preparation and Serving Related Occupations

Waiters and Waitresses Dishwashers

Farming, Fishing, and Forestry Occupations

Agricultural Inspectors

Forest and Conservation Workers Logging Equipment Operators

200

$22.25

$46,280

72,270

$27.53

$57,270

Carpenters

12,420

$25.81

$53,690

Tile and Marble Setters

1,030

$25.96

$53,990

Construction Laborers

10,450

$22.69

$47,190

3,480

$30.39

$63,220

Plumbers, Pipefitters, and Steamfitters

4,820

$32.58

$67,770

Roofers

1,840

$22.85

$47,530

Sheet Metal Workers

2,270

$28.10

$58,450

Construction and Extraction Occupations

Operating Engineers and Other Construction Equipment Operators

1,060

$34.69

$72,160

Installation, Maintenance, and Repair Occupations

Structural Iron and Steel Workers

60,750

$25.69

$53,430

7,230

$10.80

$22,470

Building and Grounds Cleaning and Maintenance Occupations

44,370

$14.82

$30,820

Automotive Body and Related Repairers

1,060

$25.74

$53,540

Janitors and Cleaners, Except Maids and Housekeeping Cleaners

22,380

$14.24

$29,630

Automotive Service Technicians and Mechanics

6,740

$21.91

$45,580

Maids and Housekeeping Cleaners

7,910

$11.89

$24,720

2,800

$28.10

$58,440

Landscaping and Groundskeeping Workers

10,690

$16.12

$33,520

Bus and Truck Mechanics and Diesel Engine Specialists

2,020

$30.67

$63,780

Personal Care and Service Occupations

53,850

$14.13

$29,390

Heating, Air Conditioning, and Refrigeration Mechanics and Installers

Nonfarm Animal Caretakers

3,030

$12.76

$26,550

Electrical Power-Line Installers and Repairers

1,160

$39.29

$81,720

Gaming Dealers

Maintenance and Repair Workers, General

15,240

$20.87

$43,410

Production Occupations

106,000

$21.10

$43,880

Electrical and Electronic Equipment Assemblers

3,510

$17.08

$35,540

5,530

$24.12

$50,180

2,640

$23.24

$48,330

3,390

$11.20

$23,310

Amusement and Recreation Attendants

2,170

$11.30

$23,500

Hairdressers, Hairstylists, and Cosmetologists

5,500

$18.09

$37,630

Manicurists and Pedicurists

2,750

$13.05

$27,140

Fitness Trainers and Aerobics Instructors

5,070

$20.00

$41,590

Recreation Workers

Machinists Welders, Cutters, Solderers, and Brazers

3,310

$13.80

$28,700

Printing Press Operators

1,680

$20.11

$41,820

183,090

$21.12

$43,930

Laundry and Dry-Cleaning Workers

1,890

$12.79

$26,600

Cashiers

33,270

$13.21

$27,470

Sewing Machine Operators

2,820

$14.01

$29,140

Counter and Rental Clerks

8,810

$15.21

$31,640

8,110

$27.59

$57,380

Retail Salespersons

60,370

$14.23

$29,590

3,830

$43.60

$90,690

1,510

$27.16

$56,480

$19.52

$40,610

1,250

$19.95

$41,500

Transportation and Material Moving Occupations

117,430

Travel Agents Real Estate Sales Agents

3,500

$22.33

$46,440

820

$16.14

$33,570

248,180

$19.31

$40,160

Ambulance Drivers and Attendants, Except EMTs Bus Drivers, Transit and Intercity

4,470

$24.07

$50,080

3,030

$17.75

$36,920

Bus Drivers, School or Special Client

Sales and Related Occupations

Securities, Commodities, and Financial Services Sales Agents

Office and Administrative Support Occupations

Bill and Account Collectors Billing and Posting Clerks

6,430

$19.42

$40,400

20,540

$20.69

$43,030

File Clerks

1,590

$15.98

$33,250

Hotel, Motel, and Resort Desk Clerks

2,030

$11.85

$24,660

Bookkeeping, Accounting, and Auditing Clerks

Source: United States Department of Labor, Bureau of Labor Statistic

Inspectors, Testers, Sorters, Samplers, and Weighers Painters, Transportation Equipment

3,670

$17.72

$36,870

Heavy and Tractor-Trailer Truck Drivers

15,110

$22.00

$45,760

Light Truck or Delivery Services Drivers

11,250

$17.98

$37,390

3,710

$13.79

$28,680

Cleaners of Vehicles and Equipment

MARKET FACTS 2016

THE HERALD BUSINESS JOURNAL 23

STATISTICAL SNAPSHOT

Snohomish County home sales and prices, 2012-2015 Single-family homes, 2015* Average/median sales prices MLS Area

Sales 2014

Sales 2015

YTD 2014

YTD 2015

610

1,552

1,555

$456,655

$492,450

730

1,784

1,697

$359,572

$397,524

740

2,303

2,498

$328,708

$352,319

750

1,004

993

$283,301

$310,315

760

1,208

1,171

$276,056

$301,080

770

1,826

1,683

$253,401

$276,083

Total

9,677

9,597

$321,540

$351,541

Condominiums, 2015* Average/median sales prices MLS Area

Sales 2014

Sales 2015

YTD 2014

YTD 2015

610

311

341

$267,016

$339,118

730

674

648

$217,269

$258,508

740

833

909

$201,983

$231,382

750

76

53

$163,464

$189,633

760

94

130

$219,229

$268,751

770

114

105

$183,569

$207,001

Total

2,102

2186

$208,810

$245,216

Combined single-family homes, condos 2015* Average/median sales prices YTD 2015

Snohomish County Northwest Multiple Listing Service area zones Combined single-family homes, condos 2014 Average/median sales prices MLS Area

Sales 2013

Sales 2014

YTD 2013

YTD 2014

610

1,824

1,863

$378,479

$431,533

730

2,574

2,458

$325,920

$326,470

740

3,141

3,136

$294,565

$300,364

740

2,934

3,141

$259,083

$294,565

750

815

964

$242,201

$273,166

760

1,133

1,266

$232,795

$258,463

770

1,801

1,920

$215,865

$245,082

Total

10,631

11,689

$265,920

$299,126

MLS Area

Sales 2014

Sales 2015*

YTD 2014

610

1,863

1,896

$431,533

$462,328

750

964

1,080

$273,166

$275,594

730

2,458

2,345

$326,470

$366,352

760

1,266

1,302

$258,463

$270,107

MLS Area

Sales 2011

Sales 2012

YTD 2011

YTD 2012

740

3,136

3,407

$300,364

$324,619

770

1,920

1,940

$245,082

$252,785

610

1,161

1,421

$356,390

$364,273

750

1,080

1,046

$275,594

$305,507

Total

11,689

11,779

$299,126

$305,115

730

1,519

1,722

$303,954

$320,951

760

1,302

1,301

$270,107

$294,660

Single-family homes, 2013

740

1,998

2,310

$266,745

$287,178

750

696

762

$244,048

$249,996

760

900

1,067

$220,544

$237,241

770

1,497

1,679

$217,307

$220,156

Total

7,771

8,961

$270,504

$284,228

770

1,940

1,788

$252,785

$270,308

Total

11,779

11,783

$305,115

$333,790

Single-family homes, 2014 Average/median sales prices YTD 2014

Average/median sales prices MLS Area

Sales 2012

Sales 2013

YTD 2012

YTD 2013

610

1,421

1,606

$364,273

$404,382

730

1,722

1,846

$320,951

$367,627

740

2,310

2,438

$287,178

$327,817

MLS Area

Sales 2013

Sales 2014

YTD 2013

610

1,606

1,552

$404,382

$456,655

750

762

910

$249,996

$281,206

730

1,846

1,784

$367,627

$359,572

760

1,067

1,193

$237,241

740

2,438

2,303

$327,817

$328,708

770

1,679

1,806

750

910

1,004

$281,206

$283,301

Total

8,961

9,799

760

1,193

1,208

$262,511

$276,056

Condominiums, 2013

770

1,806

1,826

$250,217

$253,401

Total

9,799

9,677

$321,284

$321,540

Condominiums, 2014 Average/median sales prices YTD 2014

Single-family homes, 2012 Average/median sales prices

Condominiums, 2012 Average/median sales prices

$262,511

MLS Area

Sales 2011

Sales 2012

YTD 2011

YTD 2012

$220,156

$250,217

610

188

219

$183,312

$151,563

$284,228

$321,284

730

556

586

$214,722

$193,554

740

540

624

$152,383

$155,070

750

45

53

$107,058

$130,105

760

53

66

$168,614

$160,924

Average/median sales prices MLS Area

Sales 2012

Sales 2013

YTD 2012

YTD 2013

610

219

218

$151,563

$187,663

730

586

728

$193,554

$220,162

740

624

703

$155,070

$179,246

770

163

122

$165,605

$156,795

Total

1,545

1,670

$179,212

$167,679

MLS Area

Sales 2013

Sales 2014

YTD 2013

610

218

311

$187,663

$267,016

750

53

54

$130,105

$137,677

730

728

674

$220,162

$217,269

760

66

73

$160,924

$192,302

MLS Area

Sales 2011

Sales 2012

YTD 2011

YTD 2012

740

703

833

$179,246

$201,983

770

122

114

$156,795

$163,734

610

1,349

1,640

$332,270

$335,868

750

54

76

$137,677

$163,464

Total

1,670

1,603

$167,679

$192,898

730

2,075

2,308

$280,044

$288,606

760

73

94

$192,302

$219,229

Combined single-family homes, condos 2013

740

2,538

2,934

$242,413

$259,083

750

741

815

$235,728

$242,201

760

953

1,133

$217,656

$232,795

770

1,660

1,801

$212,229

$215,865

Total

9,316

10,631

$255,364

$265,920

770

114

114

$163,734

$183,569

Total

1,890

2,102

$192,898

$208,810

Source: Northwest Multiple Listing Service; *Sales and sales prices for 2015 are based on figures available through Nov. 30, 2015

Average/median sales prices MLS Area

Sales 2012

Sales 2013

YTD 2012

YTD 2013

610

1,640

1,824

$335,868

$378,479

730

2,308

2,574

$288,606

$325,920

Combined single-family homes, condos 2012 Average/median sales prices

24 THE HERALD BUSINESS JOURNAL

MARKET FACTS 2016

SNOHOMISH COUNTY BANKS 1st Security Bank of Washington 6920 220th St. SW, Suite 300 Mountlake Terrace, WA 98043 www.fsbwa.com CEO: Joe Adams Bank of America 100 N Tryon St. Charlotte,NC 28202 www.bankofamerica.com CEO: Brian T. Moynihan Banner Bank 10 S First Avenue Walla Walla, WA 99362 www.bannerbank.com President and CEO: Mark J Grescovich BBCN Bank 3731 Wilshire Boulevard, Suite 1000 Los Angeles,CA 90010 www.bbcnbank.com President and CEO: Kevin S. Kim Coastal Community Bank 2817 Colby Ave. Everett,WA 98201 www.coastalbank.com CEO: Eric Sprink Columbia State Bank 1301 A St. Tacoma,WA 98402 www.columbiabank.com CEO: Melanie Dressel First Financial Northwest Bank 201 Wells Ave. S

Renton,WA 98057 www.fsbnw.com President and CEO: Joseph W. Kiley III

CEO: Stephen Cummings Opus Bank 19900 Macarthur Blvd., 12th Floor Irvine, CA 92612 www.opusbank.com CEO: Stephen H. Gordon

Heritage Bank 201 Fifth Avenue, SW Olympia,WA 98501 www.heritagebankwaonline2.com CEO: Brian Vance

Pacific Crest Savings Bank 3500 188th St. SW, Suite 575 Lynnwood, WA 98037 www.paccrest.com/ CEO: Sheryl Nilson

HomeStreet Bank 601 Union Street, Suite 2000 Seattle, WA 98101 www.homestreet.com CEO: Mark Mason

Peoples Bank 3100 Woburn Street Bellingham,WA 98226 www.peoplesbank-wa.com CEO: Charles LeCocq

JPMorgan Chase Bank 1111 Polaris Parkway Columbus, OH 43240 www.chase.com/ CEO: James Dimon

Prime Pacific Bank 2502 196th St., SW Lynnwood, WA 98036 www.primepacificbank.com CEO: Glenn Deutsch

KeyBank 127 Public Square Cleveland,OH 44114 www.key.com CEO: Beth Mooney

Skagit Bank 301 E Fairhaven Ave. Burlington, WA 98233 www.skagitbank.com CEO: Ken Johnson

Mountain Pacific Bank 3732 Broadway Everett,WA 98201 www.mountainpacificbank.com CEO: Mark A. Duffy

Sound Community Bank 2001 Fifth Ave. Seattle, WA 98121 www.soundcb.com CEO: Laura Lee Stewart

MUFG Union Bank 400 California St. San Francisco,CA 94104 www.unionbank.com

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The Bank of Washington 5901 196th St. SW Lynnwood, WA 98036 www.the-bank.com CEO: Marty Steele U.S. Bank 425 Walnut St. Cincinnati, OH 45202 www.usbank.com CEO: Richard K. Davis Umpqua Bank 445 SE Main St. Roseburg, OR 97470 www.umpquabank.com/ CEO: Raymond P. Davis UniBank 19315 Highway 99 Lynnwood,WA 98036 www.unibankusa.com CEO and President: Daniel C. Lee Washington Federal 425 Pike St. Seattle, WA 98101 www.washingtonfederal.com CEO: Roy Whitehead Wells Fargo Bank 101 N. Phillips Ave. Sioux Falls, SD 57104 www.wellsfargo.com/ CEO: John G. Stumpf Source: FDIC

THE HERALD BUSINESS JOURNAL 25

MARKET FACTS 2016

STATISTICAL SNAPSHOT

Economic characteristics of Snohomish County Employment status

Educational services, and health care and social assistance

70,435

Arts, entertainment, and recreation, and accommodation and food services

30,945

Other services, except public administration

18,706

Population 16 years and over

581,680

In labor force

396,655

Civilian labor force

392,972

Employed

358,749

Unemployed

34,223

Armed Forces

3,683

Class of worker

Not in labor force

185,025

Civilian employed population 16 years and over

Commuting to work

Workers 16 years and over

354,718

Car, truck, or van -- drove alone

266,096

Car, truck, or van -- carpooled

40,337

Public transportation (excluding taxicab)

19,379

Walked

6,049

Other means

5,146

Worked at home

17,711

Mean travel time to work (minutes)

Public administration

14,990 358,749

$35,000 to $49,999

18,972

$50,000 to $74,999

34,138

$75,000 to $99,999

31,159

$100,000 to $149,999

42,285

$150,000 to $199,999

16,778

$200,000 or more

11,629

Median family income (dollars)

$81,956

Mean family income (dollars)

$95,482

Per capita income (dollars)

$31,782

Private wage and salary workers

291,031

Government workers

47,245

Median nonfamily income (dollars)

$42,311

19,970

Mean nonfamily income (dollars)

$53,024

Median earnings for workers (dollars)

$37,903

Median earnings for male full-time, year-round workers (dollars)

61,277 44,952

Self-employed in own not incorporated business workers Unpaid family workers

Nonfamily households

503

Income and benefits (in 2012 dollars)

86,802

Total households

271,514

Less than $10,000

12,868

Median earnings for female full-time, year-round workers (dollars)

29.9

$10,000 to $14,999

8,220

Health insurance coverage

$15,000 to $24,999

19,891

Civilian employed population 16 years and over

358,749

$25,000 to $34,999

21,073

Civilian noninstitutionalized population

$35,000 to $49,999

33,426

Management, business, science, and arts occupations

133,382

$50,000 to $74,999

50,656

$75,000 to $99,999

42,197

$100,000 to $149,999

51,248

$150,000 to $199,999

19,016

$200,000 or more

12,919

Median household income (dollars)

$69,443

Mean household income (dollars)

$83,440

With Social Security

64,641

In labor force:

373,776

Mean Social Security income (dollars)

$18,668

Employed:

341,981

With retirement income

43,210

With health insurance coverage

296,000

Mean retirement income (dollars)

$23,291

With private health insurance

286,031

With Supplemental Security Income

11,346

With public coverage

17,046

Mean Supplemental Security Income (dollars)

$9,627

No health insurance coverage

45,981

Unemployed:

31,795

With cash public assistance income

10,492

With health insurance coverage

17,460

14,407

Mean cash public assistance income (dollars)

$3,336

With private health insurance

13,792

33,385

With public coverage

4,373

8,653

With Food Stamp/SNAP benefits in the past 12 months

No health insurance coverage

14,335

184,712

Not in labor force:

97,414

Less than $10,000

5,777

With health insurance coverage

79,376

$10,000 to $14,999

3,493

With private health insurance

57,234

$15,000 to $24,999

8,527

With public coverage

28,295

11,954

No health insurance coverage

18,038

Occupation

Service occupations

63,575

Sales and office occupations

84,562

Natural resources, construction, and maintenance occupations

37,009

Production, transportation, and material moving occupations

40,221

Industry

Civilian employed population 16 years and over

358,749

Agriculture, forestry, fishing and hunting, and mining

2,829

Construction

25,572

Manufacturing

58,913

Wholesale trade

8,966

Retail trade

44,934

Transportation and warehousing, and utilities Information Finance and insurance, and real estate and rental and leasing

21,473

Professional, scientific, and management, and administrative and waste management services

37,926

Families

$25,000 to $34,999

726,099

With health insurance coverage

637,527

With private health insurance

528,568

With public coverage

179,580

No health insurance coverage

88,572

Civilian noninstitutionalized population under 18 years No health insurance coverage

174,015 9,393

Civilian noninstitutionalized population 18 to 64 years

471,190

Source: U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Estimates

Snohomish County unemployment rate, 2011-2015 Jan

Feb

Mar

Apr

May

2011

10.6%

10.4%

2012

8.7%

8.7%

2013

6.6%

2014 2015

10.0%

9.0%

9.1%

9.9%

9.7%

9.0%

8.2%

7.2%

7.6%

8.2%

8.1%

7.5%

6.2%

5.7%

5.2%

5.4%

6.2%

6.0%

6.0%

5.9%

6.0%

6.0%

4.8%

5.1%

5.1%

5.3%

5.2%

5.3%

4.5%

3.6%

4.0%

4.3%

4.3%

Source: Employment Security Department

Jun

Jul

Aug

Sep

Oct

Nov

Dec

8.9%

8.7%

8.6%

8.2%

6.9%

6.7%

6.4%

6.2%

5.8%

5.9%

5.7%

5.4%

5.3%

5.1%

4.8%

4.8%

4.5%

3.9%

4.1%

4.5%

N/A

N/A

26 THE HERALD BUSINESS JOURNAL

1471804

MARKET FACTS 2016

MARKET FACTS 2016

THE HERALD BUSINESS JOURNAL 27

STATISTICAL SNAPSHOT

Seattle metro area unleaded fuel prices, 1999-2015 Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

1999

$1.06

$1.02

$1.06

$1.38

$1.40

$1.34

$1.39

$1.44

$1.43

$1.38

$1.36

$1.39

2000

$1.39

$1.43

$1.60

$1.69

$1.63

$1.59

$1.64

$1.64

$1.71

$1.72

$1.70

$1.66

2001

$1.59

$1.55

$1.55

$1.54

$1.58

$1.62

$1.59

$1.52

$1.66

$1.63

$1.49

$1.28

2002

$1.20

$1.17

$1.23

$1.43

$1.46

$1.46

$1.48

$1.49

$1.47

$1.41

$1.41

$1.38

2003

$1.39

$1.64

$1.86

$1.79

$1.63

$1.55

$1.60

$1.76

$1.88

$1.66

$1.59

$1.52

2004

$1.61

$1.67

$1.79

$1.90

$2.20

$2.27

$2.01

$1.93

$1.99

$2.06

$2.06

$1.92

2005

$1.81

$1.92

$2.15

$2.44

$2.43

$2.30

$2.44

$2.60

$2.88

$2.80

$2.50

$2.23

2006

$2.24

$2.29

$2.40

$2.76

$3.11

$3.11

$3.02

$3.00

$2.80

$2.53

$2.44

$2.57

2007

$2.60

$2.47

$2.76

$3.08

$3.36

$3.14

$2.96

$2.79

$2.88

$2.98

$3.20

$3.13

2008

$3.08

$3.16

$3.46

$3.57

$3.86

$4.29

$4.27

$3.98

$3.74

$3.12

$2.19

$1.81

2009

$2.01

$2.16

$2.15

$2.30

$2.51

$2.84

$2.70

$2.84

$2.91

$2.76

$2.82

$2.79

2010

$2.87

$2.81

$2.98

$3.05

$3.01

$2.94

$2.98

$3.07

$2.94

$3.01

$3.08

$3.15

2011

$3.23

$3.34

$3.70

$3.92

$3.99

$3.86

$3.78

$3.75

$3.86

$3.80

$3.67

$3.44

2012

$3.44

$3.57

$4.00

$4.08

$4.16

$4.00

$3.57

$3.81

$4.01

$3.96

$3.47

$3.34

2013

$3.37

$3.62

$3.80

$3.64

$3.83

$3.79

$3.82

$3.79

$3.66

$3.44

$3.24

$3.29

2014

$3.37

$3.31

$3.58

$3.75

$3.87

$3.93

$3.96

$3.83

$3.75

$3.40

$3.00

$2.83

2015

$2.30

$2.31

$2.85

$2.70

$3.00

$3.05

$3.14

$3.03

$2.73

$2.43

N/A

N/A

Source: U.S. Bureau of Labor Statistics, November 2013

Seattle metro area natural gas, per therm, 2010-2015 Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2010

$1.207

$1.207

$1.207

$1.224

$1.224

$1.249

$1.249

$1.249

$1.249

$1.250

$1.274

$1.274

2011

$1.275

$1.275

$1.275

$1.301

$1.307

$1.307

$1.307

$1.307

$1.307

$1.306

$1.253

$1.253

2012

$1.253

$1.253

$1.253

$1.246

$1.264

$1.264

$1.264

$1.264

$1.264

$1.266

$1.175

$1.175

2013

$1.176

$1.176

$1.176

$1.176

$1.169

$1.169

$1.188

$1.188

$1.188

$1.190

$1.195

$1.195

2014

$1.195

$1.195

$1.195

$1.195

$1.187

$1.187

$1.187

$1.187

$1.187

$1.186

$1.214

$1.214

2015

$1.216

$1.216

$1.216

$1.216

$1.253

$1.250

$1.250

$1.250

$1.250

$1.252

N/A

N/A

Source: U.S. Bureau of Labor Statistics, November 2013

Seattle metro area electricity per kilowatt hour, 2006-2015 Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2006

$0.072

$0.072

$0.072

$0.073

$0.073

$0.073

$0.075

$0.075

$0.075

$0.077

$0.077

$0.077

2007

$0.075

$0.075

$0.075

$0.076

$0.076

$0.080

$0.080

$0.080

$0.081

$0.080

$0.080

$0.080

2008

$0.080

$0.080

$0.080

$0.073

$0.082

$0.082

$0.082

$0.082

$0.082

$0.081

$0.080

$0.080

2009

$0.080

$0.080

$0.080

$0.082

$0.082

$0.082

$0.082

$0.082

$0.082

$0.082

$0.082

$0.082

2010

$0.085

$0.085

$0.085

$0.088

$0.089

$0.089

$0.090

$0.090

$0.090

$0.089

$0.088

$0.088

2011

$0.088

$0.088

$0.088

$0.089

$0.090

$0.090

$0.090

$0.090

$0.090

$0.089

$0.089

$0.089

2012

$0.089

$0.089

$0.089

$0.092

$0.093

$0.093

$0.093

$0.093

$0.093

$0.092

$0.092

$0.092

2013

$0.093

$0.092

$0.092

$0.095

$0.095

$0.095

$0.096

$0.096

$0.096

$0.095

$0.094

$0.094

2014

$0.096

$0.096

$0.096

$0.098

$0.099

$0.096

$0.096

$0.096

$0.096

$0.095

$0.095

$0.083

2015

$0.096

$0.096

$0.096

$0.098

$0.098

$0.102

$0.102

$0.102

$0.102

$0.102

N/A

N/A

Source: U.S. Bureau of Labor Statistics, November 2013

Seattle metro area conusmer price index, all items, 2011-2015 Jan

Feb

Mar

April

May

June

July

Aug

Sept

Oct

Nov

Dec

Semiannual 1st Half

2nd Half

Annual AVERAGE

2011

229.482

231.314

233.25

233.81

235.916

234.812

232.765

230.815

234.715

2012

235.744

237.931

239.54

240.213

241.355

237.993

238.663

237.344

239.981

2013

242.82

242.767

242.787

241.055

241.563

240.777

242.35

239.898

240.823

2014

242.77

246.616

247.642

247.185

247.854

245.05

245.125

245.125

246.018

2015

245.496

247.611

251.622

251.617

250.831

N/A

N/A

N/A

N/A

Source: U.S. Department of Labor, Bureau of Labor Statistics; November 2013; Base period: 1982-84; not seasonally adjusted; bimonthly statistics not available between 1992 and 1997

28 THE HERALD BUSINESS JOURNAL

MARKET FACTS 2016

STATISTICAL SNAPSHOT

Snohomish County’s largest private employers RANK

COMPANY

DESCRIPTION

FTE 2015

WEBSITE

1

Boeing

Aircraft manufacturing

38,000

www.boeing.com

2

Providence Regional Medical Center

Medical services

3,500

http://washington.providence.org

3

Tulalip Tribes Enterprises

Gaming, real estate, gov’t services

3,200

www.tulaliptribes-nsn.gov

4

Premera Blue Cross

Health insurer

2,400

www.premera.com

5

Everett Clinic

Health care

2,150

www.everettclinic.com

6

Walmart

Retail

2,056

www.walmart.com

7

Swedish Edmonds Hospital

Health care

1,850

www.swedish.org/edmonds

8

Philips Medical Systems

Ultrasound technology

1,800

www.medical.philips.com

9

Fred Meyer

retail - grocery

1,600

www.fredmeyer.com

10

Safeway

Retail- grocery

1,350

www.safeway.com

11

Fluke Corp. (Danaher)

Electronic test & measurement

1,200

www.fluke.com

12

Zodiac Aerospace

Aerospace supplier; composites

1,000

www.zodiacaerospace.com/en

13

Aviation Technical Services

Aircraft repair/maintenance/parts

1,000

http://atsmro.com

14

Albertson’s

Retail - grocery

1,000

www.albertsons.com

15

Crane Aerospace & Electronics

Aerospace electronics

900

www.craneae.com

30

Frontier Communications Northwest

Communications

800

http://frontier.com

31

QFC

Retail - grocery

731

www.qfc.com

32

Esterline Control Systems

Aerospace electronics

700

www.esterline.com

33

Senior plc (AMT Senior)

Aerospace parts

700

www.amtnw.com

34

Stillaguamish Tribe

Gaming, gov’t services, investments

700

www.stillaguamish.com

36

Electroimpact

Aerospace tooling & automation

620

www.electroimpact.com

37

Seattle Genetics

Biotechnology

600

www.seattlegenetics.com

38

Sonosite

Medical devices

600

www.sonosite.com

40

Jamco

Aerospace interiors

500

www.jamcoamerica.com

41

Hos Brothers Construction

Construction contractor

500

www.hosbros.com

42

CEMEX

Sand/gravel mining operations

500

www.cemex.com

43

Travis Industries

Manufacturing - fireplaces

450

www.travisindustries.com

44

Cadence Aerospace

Aerospace parts

440

www.cadenceaerospace.com

45

Panasonic Avionics

Aircraft equipment

430

www.panasonic.aero

46

Cascade Valley Hospital

Health care

430

www.cascadevalley.org

47

Associated Materials

Manufacturer, vinyl siding

400

www.associatedmaterials.com

48

Macy’s

Retail

400

www.macys.com

49

Electric Mirror

Manufacturing

360

www.electricmirror.com

50

Romac

Foundry products

330

www.romac.com

Snohomish County’s largest public employers RANK

COMPANY

DESCRIPTION

FTE 2015

WEBSITE

1

Naval Station Everett

U.S. Navy Base

6,500

www.cnic.navy.mil/everett

2

Washington State (includes colleges)

State government

4,600

http://access.wa.gov

3

Snohomish County Government

County government

2,700

http://snohomishcountywa.gov

4

Edmonds School District

School district

2,558

www.edmonds.wednet.edu

5

Everett School District

School district

2,157

www.everettsd.org

6

Mukilteo School District

School district

1,717

www.mukilteo.wednet.edu

7

City of Everett

City government

1,327

www.everettwa.org

8

Marysville School District

School district

1,305

www.msd25.org

9

Snohomish School District

School district

1101

www.sno.wednet.edu

10

Monroe Correctional Complex

State gov’t - Corrections

1,000

www.doc.wa.gov/facilities/prison/mcc

11

Snohomish PUD

Electric utility

980

www.snopud.com

12

Edmonds Community College

Higher education

855

www.edcc.edu

13

Everett Community College

Higher education

840

www.everettcc.edu

14

Community Transit

Public transit

650

www.communitytransit.org

15

City of Lynnwood

City government

533

www.ci.lynnwood.wa.us

Source: Economic Alliance Snohomish County

MARKET FACTS 2016

THE HERALD BUSINESS JOURNAL 29

STATISTICAL SNAPSHOT

Snohomish County high school graduation rates, 2011-2014 2012

2013

2014

2015

K-12 Enrollment*

108,750

107,150

107,719

108,807

County graduation rate

2010-11

2011-12

2012-13

2013-14

On-time

76.4

77.7

77.2

78.1

Marysville

Five-year rate

77.1

78.4

80.9

81.3

Lakewood

School District Arlington

On-time

83.3

84.7

77.3

85.2

Five-year rate

83.1

86.5

87.2

82.6

On-time

71.8

72.4

70.1

74.5

Five-year rate

73.4

73.2

75.7

77.8

Monroe

On-time

79.6

77.6

84.8

77.5

On-time

83.8

77.4

80.4

78.4

Five-year rate

79.3

82.3

81

86.9

Five-year rate

90.8

65.9

77.1

84.5

On-time

79.5

82.6

82.4

74.4

On-time

83.8

82.9

81.9

79.1

Five-year rate

86.8

78.8

87.2

87.9

Five-year rate

87

85.6

88

86.8

On-time

76

74.2

75.6

82.6

On-time

90.8

91.4

89.6

90.3

Five-year rate

76.4

76.1

79

84.6

Five-year rate

91.5

91.6

93.2

93.6

On-time

82.4

81.8

84.4

89.3

On-time

84.9

83.8

82.8

84.4

Five-year rate

84.2

85.8

88.5

91.2

Five-year rate

85.5

87.3

87

88.2

On-time

77.9

66

65.9

62.9

On-time

80.3

78.4

78

81.2

Five-year rate

75.9

73.7

78

74

Five-year rate

80.9

80.9

84

85.4

On-time

82.8

88.3

91.7

89.4

On-time

75

65.1

N/A

72.2

Five-year rate

86.5

86.4

90

94.4

Five-year rate

77

80.4

N/A

78.8

Darrington

Mukilteo

Edmonds

Northshore

Everett

Snohomish

Granite Falls

Stanwood-Camano

Lake Stevens

Sultan

Source: Office of the Superintendent of Public Instruction; *Measured each fall

Languages spoken in Snohomish County Population 5 years and over

688,171

Speak only English

81.20%

Speak a language other than English

18.80%

Spanish or Spanish Creole

6.10%

Other Indo-European languages

4.40%

Asian and Pacific Island languages

6.90%

Other languages

1.40%

Other Indo-European languages

30,231

Asian and Pacific Island languages

47,323

Other languages

Thursday, January 21 | 7:30 pm $39, $34 & $29 | Youth/Student $15 Wildly popular ukulele group known for their Kiwi humour and sublime musicality, critically acclaimed as “New Zealand’s hottest musiccomedy ensemble.”

9,588

Citizens 18 years and older

All citizens 18 years and over

514,434

Speak only English

87.60%

Speak a language other than English

12.40%

Speak a language other than English

Spanish or Spanish Creole

2.80%

Spanish or Spanish Creole

Other languages

9.60%

41,983

WELLINGTON INT’L UKULELE ORCHESTRA

AN ACOUSTIC EVENING WITH

TRAVIS TRITT

Thursday, January 28, 2016 $59, $54 & $49 | Youth/Student $15 A two-time GRAMMY® Award-winning American Country music singer with seven of his albums certified platinum or higher. He’s received four awards from the Country Music Association and has been a member of the Grand Ole Opry since 1992.

Source: U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Estimates

RIDERS IN THE SKY: A TRIBUTE TO ROY ROGERS

1471945

Wednesday, February 3, 2016 $39, $34 & $29 | Youth/Student $15 A salute to iconic western movie, music, and TV star Roy Rogers. This classic cowboy quartet has chalked up two GRAMMY® Awards, over 6,000 performances, and countless TV specials, documentaries, and variety shows. 10% off for Seniors 62+ & Military on ECA presented events!

ec4arts.org | 425.275.9595 1471649

410FOURTHAVENUENORTH EDMONDSWA98020

30 THE HERALD BUSINESS JOURNAL

MARKET FACTS 2016

SNOHOMISH COUNTY POPULATION, 2005-2015 Municipality

2015

2014

2013

2012

2011

2010

2010

2009

2008

2007

2006

2005

Snohomish County

757,600

741,000

730,500

722,900

717,000

713,335

713,335

705,894

699,330

689,314

676,126

661,346

Unincorporated

330,260

320,335

312,500

308,445

304,435

302,292

302,292

329,476

326,382

321,055

320,132

320,484

Incorporated

427,340

420,665

418,000

414,455

412,565

411,043

411,043

376,418

372,948

368,259

355,994

340,862

18,490

18,360

18,270

17,970

17,930

17,926

17,926

17,711

17,527

17,094

15,693

15,173

Arlington Bothell (part)

17,230

17,020

17,020

16,720

16,570

16,415

16,415

16,290

16,009

15,723

15,413

15,044

Brier

6,500

6,345

6,315

6,155

6,100

6,087

6,087

6,126

6,163

6,202

6,240

6,276

Darrington

1,350

1,350

1,350

1,345

1,345

1,347

1,347

1,365

1,371

1,380

1,379

1,366

Edmonds

40,490

39,950

39,950

39,800

39,800

39,709

39,709

39,846

39,828

39,758

39,680

39,264

Everett

105,800

104,900

104,200

103,300

103,100

103,019

103,019

102,520

101,413

100,980

100,411

97,075

Gold Bar

2,115

2,085

2,080

2,060

2,060

2,075

2,075

2,061

2,134

2,109

2,073

2,050

Granite Falls

3,390

3,390

3,385

3,380

3,370

3,364

3,364

3,359

3,274

3,186

3,094

3,055

Index

160

180

180

180

180

178

178

166

165

166

163

158

Lake Stevens

29,900

29,170

28,960

28,510

28,210

28,069

28,069

15,483

15,233

13,996

9,873

7,174

Lynnwood

36,420

36,030

35,960

35,900

35,860

35,836

35,836

35,430

35,411

35,279

35,062

34,718

Marysville

64,140

62,600

62,100

61,360

60,660

60,020

60,020

39,628

39,019

37,875

33,821

30,507

Mill Creek

19,760

18,780

18,600

18,450

18,370

18,244

18,244

18,036

17,526

17,442

17,325

14,581

Monroe

17,620

17,660

17,510

17,390

17,330

17,304

17,304

17,272

17,038

16,701

16,526

16,190

Mountlake Terrace

21,090

20,530

20,160

20,090

19,990

19,909

19,909

20,009

20,084

20,082

19,757

19,870

Mukilteo

20,900

20,540

20,440

20,360

20,310

20,254

20,254

20,210

20,161

20,049

19,702

19,453

Snohomish

9,385

9,270

9,220

9,215

9,200

9,098

9,098

8,926

8,841

8,829

8,812

8,623

Stanwood

6,585

6,530

6,340

6,300

6,220

6,231

6,231

6,073

5,885

5,593

5,287

4,858

Sultan

4,680

4,665

4,660

4,660

4,655

4,651

4,651

4,624

4,600

4,564

4,455

4,236

Woodway

1,335

1,310

1,300

1,310

1,305

1,307

1,307

1,283

1,266

1,251

1,228

1,191

Source: Office of Financial Management

Mountain Pacific Bank is a True Local Community Bank founded in Snohomish County in 2006. Our Bank is well capitalized with total assets over $180 million and three branches: Everett, Lynnwood and Ballard, to serve our customers. Over the past several years, the local banking industry has undergone many changes. Mountain Pacific Bank is proud that we were able to survive and keep ownership local. We believe people want to “Keep it Local”, including their banking. As a result, the Bank has adopted the tagline “Keeping it Local.” What this means is Mountain Pacific Bank intends to remain a True Local Community Bank where local people are employed to serve local people. When you call us, you are going to talk to a live person that works here locally. If you have a question the answer is always right here. Mountain Pacific Bank is an asset to the Community. Our Employees, Directors and their families serve on local boards, participate in and sponsor community events, and volunteer for local charitable organizations. We work hard to contribute to the Community, and we take great pride in that commitment. We’re not just in this Community, we’re part of it; so we want to make sure we do our part to make it a better place to live. At Mountain Pacific Bank, we are committed to providing superior quality and personalized banking services. We have a dedicated staff eager to service your banking needs. I invite you to “Keep it Local” and bank with Mountain Pacific Bank; you will be happy you did.

1471947

Mark Duffy President & CEO

CONVENIENCE IS

WHERE YOU ARE NOT WHERE THE BANK IS.

Many banks love to brag about their convenient locations. But at Mountain Pacific Bank, we think about convenience from your perspective, not ours. It’s why we offer our Mobile Branch Service throughout Snohomish County, bringing banking right to your business location. If you’re looking for a bank that knows you have better things to do than drive to the bank, choose Mountain Pacific. We’ll be there for you — wherever you need us to be.

Keeping it local

EVERETT 425.263.3500

LYNNWOOD 425.493.5200

MOUNTAINPACIFICBANK.com

Member FDIC 1471952

mbp_mobile_branch_9.833x12.75_.indd 2

7/25/13 12:10 PM

Dan Ollis, Whidbey Coffee Family man Mud runner Coffee connoisseur

Each and every one of us is an original. Shaped by unique inuences that make us who we are today. Here at Heritage Bank, we think differences can build a better bank, too. That’s why we share the best ideas from across all of our branches and local communities with one goal in mind: to serve our customers better every day. By sharing our strengths, we’re able to offer customers like Dan Ollis—and you—more than a community bank. But rather, a community oƒ banks.

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