This summer, members of the Vertical IQ team are hitting the road for lots of fun adventures, and you’re invited — well, virtually at least! The Vertical IQ Summer Road Trip Blog Series will give you the 411 on all of the cool places our Vertical IQers are exploring … while also sharing ways to get the most out of Industry Intelligence. Here’s to making summer memories!
A few weeks ago, my family and I were fortunate to enjoy a fun and meaningful trip to the Pacific Northwest. After flying into the Seattle-Tacoma airport, we embarked on our Washington adventure with great excitement.
Our first destination was Vashon Island, the largest island in the Puget Sound and accessible only by ferry. The lack of bridges added to the island’s charm, making the journey feel like a true escape. Our friends on the island introduced us to a delightful farmers’ and artisans’ market, a vibrant open-air bar, and the serene Point Robinson Park. Here, we marveled at Thomas Dambo’s wooden sculpture of Oscar the Bird King, explored the historic lighthouse, and relaxed on the beach. Driftwood sculptures and teepees crafted by visitors dotted the coastline, adding a whimsical touch to our visit.
The next day, we ventured to Tacoma’s Museum of Glass. The skybridge leading to the museum was adorned with thousands of blown glass pieces, casting colorful reflections in the sunshine. Inside, we watched skilled artisans create handmade glass artwork, an experience both mesmerizing and educational. The museum’s current exhibit on salmon highlighted the challenges faced by various species, many of which are threatened or endangered.
Our adventure continued with a hike on Mount Rainier. Despite it being summer, my daughters were thrilled to play in the snow. The climb was challenging, but the reward was breathtaking views of Mount Adams and Mount Saint Helens. The natural beauty of the landscape was awe-inspiring and made the strenuous hike worthwhile.
The main purpose of our trip to the Pacific Northwest, however, was to honor a dear older friend who had passed away earlier in the year. His final wish was to be laid to rest outside the small town of Tenino, Washington. At the graveside service, we met his friends, fellow loggers, and foremen from his younger days. It was touching to hear their stories and see the impact he had on their lives. The rugged landscape, majestic fir and spruce trees, and meandering waterways provided a beautiful and fitting backdrop for his final resting place.
The beauty and economic significance of the Pacific Northwest’s forests
Throughout our journey, we were captivated by the natural beauty of the Pacific Northwest. This region is not only a haven for outdoor enthusiasts but also a significant area for forestry and logging industries. According to Vertical IQ’s Localized Industry Data, there are 45 forestry and logging locations in the Seattle-Bellevue-Everett area, reflecting a 4.7% increase over the past three years. This is notable, especially considering the U.S.-wide decrease of 0.1% in the same period.
However, greater Seattle’s employment in this sector has declined 19.8% over the past year, contrasting with a national decline of 2.8%. Despite this, the annual wages per forestry/logging employee in the Seattle-Bellevue-Everett area stand at $88,745, significantly higher than the industry’s U.S. average of $61,476. The density of forestry and logging locations in the region is 1.5 per 100,000 people, lower than the national average of 2.7, indicating stable competition.
Population growth and local economic strength play crucial roles in the demand for forestry and logging services. The population of Seattle-Bellevue-Everett grew by 0.7% in recent years, higher than the national growth rate of 0.4%. Additionally, the latest data from the Bureau of Economic Analysis shows real GDP growth of 2.7% for the region, surpassing the U.S. average of 1.9%. These factors, along with a 2.3% increase in per capita personal income, suggest a strong local economy that could support continued demand for forestry and logging services.
Vertical IQ’s Local Industry Data is crucial for gaining key insights into specific regional markets. By examining localized economic trends and industry performance, businesses can make informed decisions, tailor their strategies to local conditions, and identify new opportunities for growth. This detailed data empowers companies to stay competitive and responsive in an ever-changing market landscape.
An enduring connection to nature
Our road trip through Washington was a blend of personal connections, natural wonders, and insights into the local economy. The natural beauty of the Pacific Northwest left a lasting impression on us, reminding us of the intricate connections between nature, industry, and community.
To learn more about how Industry Intelligence from Vertical IQ can be a winning solution for your sales team, contact us today!