In the coming weeks we'll get a chance to see what the business community thinks of 2012.
It's most noticeable with retail stores, but December is the annual end-of-the year sprint for all businesses to improve the bottom line. Now that the sprint is over, January in Whatcom County is usually a time when plans are revealed on what's expected for the coming year in the business community.
Sometimes it's shown by business closures, particularly for retailers on the edge that held on through the holiday shopping season and understand the first quarter of any year is the quietest in terms of sales. Nationally, the shedding of retail stores began two days after Christmas when Sears Holdings Corporation announced it was closing up to 120 Sears and Kmart stores.
Other times it's shown by business announcements: With annual budgets finalized, January can also be a time when companies begin projects such as expansions or moves.
It'll be interesting to see what the tone will be for 2012. By most accounts, the end of 2011 appeared to finish strong locally with good retail sales, a dropping unemployment rate and a slowdown in foreclosures and bankruptcies.
Other significant business events that took place in December:
• David Syre, the Bellingham developer who created Bellis Fair mall and the Semiahmoo development in Blaine, has filed a Chapter 11 bankruptcy reorganization. The filing is meant to give Syre financial breathing room as he faces an $11 million lawsuit from Polygon Financial 05 LLC.
• Anvil Corp. is constructing the 15,516-square-foot, two-story office building at 1701 W. Bakerview Road, near its headquarters. The building is an expansion for Anvil, an engineering firm that manages and designs a variety of large projects, particularly in the oil refining industry. The company plans to add employees, possibly about 25 in Bellingham.
• Construction is expected to begin soon at the Barkley District for its next phase of development, which includes a movie theater, trails, restaurants and retail.
• BP Cherry Point's ultra-low-sulfur unit installation project hit a snag last month when a 475-ton cylinder fell off a barge into the waters near the shore, but was later recovered.
Whatcom County quarterly retail sales
Q2 2011: $742.6 million
Q1 2011: $657.7 million
Q2 2010: $716 million
Quarterly change: up 12.9 percent
Year-over-year change: up 3.7 percent
Five-year quarterly high: $873.4 million, fourth quarter, 2007
Five-year quarterly low: $624.4 million, first quarter 2009
Whatcom County bankruptcies
November 2011: 53
October 2011: 62
November 2010: 48
Monthly change: down 14.5 percent
Year-over-year change: up 10.4 percent
Five-year monthly high: 83, February 2010
Five-year monthly low: 11, February 2006
Whatcom County auto sales
November 2011: 224
October 2011: 299
November 2010: 258
Monthly change: down 25.1 percent
Year-over-year change: down 13.2 percent
Five-year monthly high: 553, May 2006
Five-year monthly low: 140, December 2008
Whatcom County residential sales
November 2011: 176
October 2011: 177
November 2010: 144
Monthly change: down less than 1 percent
Year-over-year change: up 22.2 percent
Five-year monthly high: 398, August 2007
Five-year monthly low: 104, February 2009
Unincorporated Whatcom County building permit values
November 2011: $4.1 million
October 2011: $7 million
November 2010: $17.2 million
Monthly change: down 41.4 percent
Year-over-year change: down 76.1 percent
Four-year monthly high: $65.3 million, July 2011
Four-year monthly low: $3.1 million, January 2010
Whatcom County foreclosures
November 2011: 61
October 2011: 66
November 2010: 67
Monthly change: down 7.5 percent
Year-over-year change: down 9 percent
Five-year monthly high: 153, April 2009
Five-year monthly low: 17, September 2007
Median price of homes sold in Whatcom County
November 2011: $208,000
October 2011: $235,000
November 2010: $243,500
Monthly change: down 11.5 percent
Year-over-year change: down 14.6 percent
Five-year monthly high: $280,450, May 2007
Five-year monthly low: $208,000, November 2011
Whatcom homes newly listed for sale
November 2011: 214
October 2011: 271
November 2010: 215
Monthly change: down 21 percent
Year-over-year change: down less than 1 percent
Five-year monthly high: 707, May 2007
Five-year monthly low: 170, December 2010
Bellingham airport traffic
November 2011: 40,541
October 2011: 43,943
November 2010: 32,798
Monthly change: down 7.7 percent
Year-over-year change: up 23.6 percent.
Five-year monthly high: 51,421, July 2011
Five-year monthly low: 12,597, September 2010
Canadian dollar
End of December 2011: 98 cents
End of November 2011: 98 cents
End of December 2010: $1
Five-year high: $1.07, November 2007
Five-year low: 77 cents, March 2009
Southbound Canadian border crossings into Whatcom County
October 2011: 1,159,433
September 2011: 1,250,971
October 2010: 966,381
Monthly change: down 7.3 percent
Year-over-year change: up 20 percent
Five-year monthly high: 1,540,776 August 2011
Five-year monthly low: 645,792 October 2006
Bellingham building permit values
November 2011: $3.8 million
October 2011: $10.8 million
November 2010: $3.5 million
Monthly change: down 64.8 percent
Year-over-year change: up 8.6 percent
Five-year monthly high: $47.3 million, December 2009
Five-year monthly low: $1.1 million, November 2008
Ferndale building permit values
October 2011: $1.4 million
September 2011: $1.9 million
October 2010: $1.9 million
Monthly change: down 26.3 percent
Year-over-year change: down 26.3 percent
Four-year monthly high: $12.9 million, July 2007
Four-year monthly low: $200,000, January 2009
Whatcom County construction jobs
November 2011: 5,700
October 2011(revised): 5,900
November 2010: 5,700
Monthly change: down 3.4 percent
Year-over-year change: No change
Five-year monthly high: 8,600, September 2006
Five-year monthly low: 5,000, December 2010
Whatcom County unemployment
Whatcom November 2011: 7.5 percent
Whatcom October 2011 (revised): 7.5 percent
Whatcom November 2010: 8.2 percent
State November 2011 (not seasonably adjusted): 8.2 percent
Nation November 2011 (not seasonably adjusted): 8.3 percent.
Five-year monthly high: 10.4 percent, February 2010
Five-year monthly low: 3.7 percent, October 2007
SOURCES: Washington State Department of Revenue; U.S. Bankruptcy Court, Western District of Washington; Cross-Sell; Washington State Department of Licensing; Northwest Multiple Listing Service; Whatcom County Planning and Development Services; Bank of Canada; Port of Bellingham; RealtyTrac; Center For Economics and Business Research, Western Washington University; City of Bellingham; Washington State Employment Security Department.
Market Report runs on the first Sunday of each month. Reach DAVE GALLAGHER at dave.gallagher@bellinghamherald.com or call 715-2269. Visit his business blog online at blogs.bellinghamherald.com/business or get updates on Twitter at twitter.com/BhamHeraldBiz.
