Spokane Valley Celebrates 20 Years of Rapid Growth | Washington

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(The Center Square) – Spokane Valley is one of the fastest growing cities in the United States according to a 2021 report by SmartAsset, a financial technology company.

That’s quite an achievement for a city that was incorporated less than two decades ago, say officials, who are planning a 20th-anniversary celebration in 2023.

Spokane Valley broke away as Spokane’s largest suburb and became a separate entity on March 31, 2003. At that time it had 80,700 inhabitants. According to city records, it was the largest founding in Washington state and the second-largest single founding in U.S. history.

The State Office of Financial Management reports that the city commonly known as “The Valley” is now home to more than 100,000 residents.

East of Spokane and west of Coeur d’Alene, Idaho, the Spokane Valley is home to a 1.3-million-square-foot Amazonian facility, the largest of the thriving manufacturing industry, says Mike Basinger, the city’s director of economic development.

He received permission from the Spokane Valley City Council this week to begin planning next year’s anniversary events. He said the existing budget included money to hire a consultant to develop a strategy for the celebration, which would go to council for review.

Basinger said the 20th milestone is an opportunity to showcase the Spokane Valley’s past, present and future. He gave a brief overview of notable achievements that could be highlighted at events that could start in late 2022.

“Basically, we have a lot to celebrate,” he said.

Since the new site launched in 2004, Basinger said city officials have struggled to keep up with growth plans, embarking on projects such as developing green spaces to maintain a high quality of life for residents and attract visitors .

A priority for the city has been to establish sensible development policies and streamline regulations to encourage business and manufacturing growth that would create new jobs, he said.

In 2021, SmartAsset ranked Spokane Valley 31st on a list of fast-growing US cities. This study connected the city to Orem, Utah based on population changes, average annual gross domestic product, housing growth, and unemployment rates.

According to the study, over the past five years, there has been nearly 9% growth in businesses and 11.34% growth in housing.

At the time, the Bureau of Labor Statistics and the Census Bureau put the city’s unemployment rate at 4.5%, a number that has since risen to 6.5%.

Smart Asset’s ranking followed Realtor.com, which named Spokane Valley as one of the 50 hottest US real estate markets by zip code.

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