Companies stepped up when chips were down

KOOTENAI — Nerves were on edge when retailer Coldwater Creek fell into bankruptcy, taking with it 500 well-paying jobs.

“We really expected the departure of Coldwater Creek to have a significant impact on this region,” said Jim Zuberbuhler, an associate vice president and financial consultant with D.A. Davidson in Sandpoint.

But Zuberbuhler, speaking during a well-attended Greater Sandpoint Chamber of Commerce luncheon on Thursday, said the departure appears to have had a minimal impact on the local economy. Local employment is up and unemployment is down, according to Idaho Department of Labor figures.

“Despite losing our largest employer in the county, Sandpoint’s total post-recession employment growth is still higher than the national average. We’re growing at 2.8 percent at this point,” Zuberbuhler said.

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