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closeAugust is usually a quiet month when it comes to local economic reports, but there were some interesting numbers:
Wages on the rise: Two reports came out in August focused on wages and personal income.
The Bureau of Economic Analysis estimates that the per capita personal income for all residents of all ages for the Bellingham metro area was $32,485 in 2007, up 5.9 percent compared to 2006. Personal income is the income received from all sources, including things like wages, dividend and rental income. Bellingham ranked 205th highest out of the 363 metro areas.
The Washington State Employment Security Department came out with its 2007 estimates of the average weekly wage, based on data from employees covered for unemployment insurance. The average weekly wage in Whatcom County was $658, up 5 percent from 2006. It ranked Whatcom 13th highest in the state.
Other significant business changes: A Canadian pharmaceutical firm is preparing to build a 200,000-square-foot manufacturing and research facility in Blaine. If the project goes as planned, Viva Pharmaceutical Inc. will be operating at the end of 2009 and have 150 employees... Homestead Northwest unveiled plans for a new indoor water park in Birch Bay. The project plans include a hotel, condominiums and retail... Ralph and Mike Black are working on a new building modeled after the former Fairhaven Hotel. The four- or five-story building would be on the corner of 12th Street and Harris Avenue... The federal government came out with a report on real estate appreciation, noting that Bellingham home prices rose less than 1 percent in the second quarter compared to the same period a year ago.
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