KXLY
February 18, 2021 6:19 PM Esther Bower
Updated:
SPOKANE VALLEY, Wash. Construction is underway right now on the new Amazon distribution center that’s set to open later this year, bringing more opportunities for economic recovery from the pandemic.
Once construction’s complete, the center will be over a million square feet and specialize in large-item distribution of items such as patio furniture, pet food and outdoor activity equipment. That means if you order these items, you’ll get them quicker when the site opens. Many people are still struggling with unemployment, and local business leaders say this will kickstart the Valley’s economic recovery.
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n interesting thing happened in 2020: While many businesses took massive hits that will in some cases prove to be the death knell for companies, applications for new businesses skyrocketed across the country in the second half of the year. Applications for new employer identification numbers required for companies to hire employees hovered around 860,000 per quarter in 2018 and 2019, according to Census data, then surged to 1.6 million applications in the third quarter of 2020 and another 1.1 million in the year s last quarter. What s more, despite the pandemic, venture capital firms invested a record $130 billion in U.S. companies, according to CB Insights, which analyzes startup and economic data.