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Economic Forecast

The Future Looks Bright in Renton

A recent Economic Forecast prepared by Doug Pedersen and Associates indicates that Renton is expected to continue to expand the community's vibrant economy with projected population and employment growth, plus increased retail sales and housing production from 2012 to 2016. “Soaring 737 orders, higher production rates, and rising Boeing and non-Boeing employment will sustain the Renton economy over the forecast period.  More than 5,000 additional jobs and nearly 8,800 new residents are expected."

 

Some forecast highlights are:

• Total Renton employment is expected to increase by 5,000 jobs, including 2,400 new Boeing and other aerospace jobs and 2,600 new non-Boeing and other aerospace jobs 
• As of July 2012, the total Boeing 737 backlog amounted to about 2,800 planes, 650 of which were the planned 737 MAX
• According to Boeing’s latest Current Market Outlook, demand for single-aisle airplanes are estimated at about 580 planes per year over the long run
• 737 deliveries are expected to climb from 372 planes in 2011 to 418 planes in 2012, and further to slightly over 500 planes by 2015
• Through 2016, Renton’s population is expected to increase by an average of 1,800 residents per year reaching a total population of more than 101,000 by 2016
• Housing permits are expected to climb from 280 units in 2011 to 290 units in 2012, and rising to 430 units at the end of the forecast period in 2016
• In the first quarter of 2012 total taxable retail sales climbed 6.7 percent above the year-earlier level with retail trade sales up 3.9 percent and all other retail sales up 10.5 percent - led by construction, wholesale trade, and accommodation and food services

 


Unparalleled Growth

Of the ten most populated cities in Washington State, the City of Renton has had the most dramatic and fastest population increase in the last ten years with an unparalleled 82% growth!

Current Forecast

2012-2016 City of Renton Economic Forecast (August 2012)

Economic Forecast Archive

2012-2016 City of Renton Economic Forecast (January 2012)

 

2011 – 2016 City of Renton Economic Forecast (July 2011)