Kittitas County EDSP 2023 - Laserfiche WebLink

Home Browse Search

KITTITAS COUNTY, WASHINGTON PAGE 26 | ECONOMIC DEVELOPMENT STRATEGIC PLAN SWOT Analysis During the initial phases of the project, the consulting team gathered qualitative input from local stakeholders in Kittitas County concerning local economic development issues. In addition, TIP conducted quantitative data analyses to understand the County’s competitive position in the region. The results of these efforts informed the following strengths, weaknesses, opportunities, and threats (SWOT) analysis. The four components of a SWOT analysis can be defined as follows. • Strengths: Assets and resources that can be built on to grow, strengthen, and diversify the local/regional economy. • Weaknesses: Liabilities and barriers to economic development that could limit economic growth potential. • Opportunities: Competitive advantages and positive trends that hold significant potential for the attraction of new businesses, investments, and skilled workers. • Threats: Unfavorable factors and trends (often external) that could negatively affect the local/regional economy. Figure 12. Summary of Kittitas County SWOT Analysis Strengths Weaknesses • Outdoor recreation assets and activities • Presence of Central Washington University • Natural resources • Central geographic location within the state • Small town/rural character • High quality of place • Natural beauty • Strong healthcare sector employment • Growing tourism sector • Educated workforce • International market for Timothy hay • Economic development tools • Lack of a unified County vision for economic development • Housing affordability and lack of inventory • Few industrial and commercial development-ready sites • Disconnect between CWU and community/private sector • No port district • Underinvestment in infrastructure (transportation, water/wastewater, etc.) • Retail sales tax leakage • Anti-growth sentiment • Lack of higher-wage employment opportunities • Perception of water scarcity • Siloed economic development efforts • Lack of indoor and family-friendly amenities/activities • Lack of childcare options Opportunities Threats • Infrastructure investment • Snoqualmie Pass • Outdoor recreation as a magnet for talent attraction • Attraction of remote workers • Expansion of research and facilities at CWU • Cohesive tourism effort • New recreational facilities (e.g., indoor community center) • Community planning • Recreation-related business attraction • Entrepreneurship and small business development • Growth of outdoor recreation sector (e.g., apparel, food, equipment, etc.) • Light manufacturing • Suncadia network • Biomass • Loss of young talent • Population growth without accompanying higher-wage employment growth • Aging population • Lack of forest management • Wildfire risk • Inability to attract new private investment • Lower state funding levels for CWU • Planning and zoning barriers to new investment • Agriculture becoming less sustainable • Encroachment of residential development on farming lands Source(s): TIP Strategies, Inc.