Published November 2004

Mall’s economic impact to be felt in jobs, tourism

By John Wolcott
SCBJ Editor

There’s no doubt the addition of 50 new stores and 270,000 square feet of retail space at Alderwood will have a positive impact on the Snohomish County economy, today and for many years to come.

Although the mall owner, General Growth Properties Inc., won’t confirm it invested an estimated $50 million in the project, that’s the figure quoted by city of Lynnwood economic development officials. Even if the real number is give-or-take a few million, it doesn’t detract from the fact that it’s a major economic boost for the county.

Add to that the recent hiring of some 500 people to staff the new stores that will open Nov. 4, with more hiring expected later.

“We will be adding 1,500 full- and part-time employees on top of our employment base of 2,500. Then, with our usual holiday hiring, we expect to add 1,500 more jobs,” said Alderwood Senior General Manager Jerry Alder. “We’ll be pushing 5,500 employees by this holiday season.”

The mall management also projects increased sales — and sales tax revenues — from the mall expansion to 200 stores as Alderwood’s total annual revenue climbs to new levels at the 1.4 million-square-foot regional mall.

“We will also be having a real impact on tourism and the new Lynnwood Convention Center, which is why we’re working closely with the convention center, the Snohomish County Tourism Bureau and the South Snohomish County Chamber of Commerce on promoting this area to tourists and conventions,” Alder said. “We will be one more reason for people to visit the area and stay for a while for shopping and sightseeing.”

Alderwood’s expansion also will help attract new businesses, making it an even bigger player in south Snohomish County’s economic development ventures.

“One of the first things a firm looks at when it wants to relocate to an area — along with housing and schools — is shopping. It’s a high priority with businesses because good shopping areas are a recruiting priority for their hiring, it’s part of the quality of lifestyle they look for in a business location,” he said.

Alderwood’s growth will add to its role in partnering with community organizations, such as the recent partnership formed between Alderwood Partners and the Edmonds School District’s Public Education Foundation to support student learning in the district, which serves Edmonds, Lynnwood, Brier, Mountlake Terrace and Woodway.

Beginning with the Nov. 4 grand opening of the expanded mall, all proceeds from “wishing well” coins tossed into four fountain pools at the mall will benefit the foundation. Also, Alderwood will be partnering with the group on various activities throughout the year.

Construction workers also have benefited from the mall’s expansion. Bayley Construction was the general contractor, with mall design by Callison Architects, but several Snohomish County subcontractors also participated, including Abel Curbing Inc., Everett; Central Steel Inc., Snohomish; The Erection Co., Arlington; Sign Tech, Mountlake Terrace; Crown Fire Protection, Bothell; and Monroe Welding Inc., Lake Stevens.

Related: Alderwood a shopping, entertainment destination

Related: Alderwood's new retailers

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