There are threads of optimism in nearly every economic sector here as the year comes to a close. Whether Inland Northwest businesses can weave them into significant economic gains in 2003, only time will tell. At the least, the consensus opinion is for no further decline.


After being forced to its knees during the past two years, the high-technology industry here is surprisingly upbeat about the prospects for 2003. Modest sales and employment gains in that sector could be on the horizon. The Spokane-areas employment picture as a whole, however, is likely to remain flat, perhaps growing by 1 percent, or 1,900 jobs.


The stalwart health-care industry here continues to expand, with big capital projects under way throughout Spokane and Kootenai counties, but concerns about reimbursement rates, rising costs, and surging charity care will put a pall over the industry.


Both the residential and commercial real estate markets are expected to remain strong next year, especially if mortgage rates remain low. General contractors, meanwhile, also are optimistic about 2003, though those that do highway construction are expecting a tough year based on the failure of the Referendum 51 transportation-financing package.


Kootenai County is holding its own, but likely wont regain real momentum until the national economy improves. Business recruitment there looks promising; construction is on a slow but steady pace.


Coming off a good year despite the economy, Spokane bankers expect modest growth in 2003. Dont expect big numbers, however, in the retail sector. Retailers say consumers are in a cheerful mood, but government entities are projecting flat to minimal growth in sales-tax receipts.


Inland Northwest wheat growers expect a larger crop and good prices in 2003, and the Palouses pea and lentil growers also are optimistic about the coming season. The normally downcast mining industry, meanwhile, is giddy about higher precious metals prices and a more mining-friendly attitude by the U.S. government.


Tourism is expected to be a strong economic contributor here in 2003, based on a couple of big events, some new attractions, and a greater willingness of people to travel by car. The wood-products industry, however, looks for a grim 2003, as it deals with a supply glut and low prices.


For a complete outlook, see our print version.