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September 16, 2010

Cashmere Valley Bank’s Chief Loan officer describes Chelan County’s economy as the little engine that keeps chugging along. But in his report yesterday to the Commissioners of the Chelan County Port District, Greg Oakes cautioned that the effects of the recession on small business will probably continue into next year . .Wenatchee Bureau Chief Steve Hair attended Tuesday’s Port meeting and he filed a report . In his report to the Commissioners Oakes said Chelan County’s continuing dependence on Agriculture helps cushion the blow from the down economy to this mostly rural area. The County’s tourism industry appears to be holding steady compared with the rest of the State. But he says the trickle-down impacts from the downturn in the Construction industry is still being felt Oakes reported that spending will continue to be slow as businesses turn to paying off debts instead of investing in new growth or development. That could be a problem for the Port which is trying to market two industrial park projects in Cashmere and Peshastin.

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