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Recreation adds up for Idaho

Idaho generates more than $6 billion in consumer spending on outdoor recreation every year, according to a new report from the Outdoor Industry Association.

Within the state, $1.8 billion is given toward wages for 77,000 direct jobs that are created by the industry, according to the report.

It further reports that the industry creates $461 million in local and state tax revenues.

The report was a state by state look at the economic impact of outdoor recreation across the country. Idaho generates about 1 percent of the total spending across the U.S., which the report has tallied at $646 billion.

In Idaho, the $1.8 billion in wages the industry generates represents about 8 percent of total wages paid every year. The 77,000 jobs equal about 13 percent of the state’s total.

Sean Olson

Boise Centre says  it contributed to $6.5 million in sales tax revenues 

The Boise Centre’s year-end numbers show that it facilitated the contribution of $6.5 million in sales tax revenues, according to numbers released by the agency.

The city’s convention center estimates that it placed about $48.5 million into the Treasure Valley in 2012 with booked convention space, wages, maintenance and other spending generated by visiting convention guests.

The convention center spent $4.7 million on improvements to the existing facility in 2012.

The total number of events was 233 through the calendar year, with 30 of those classified as full-blown conventions, 13 as trade shows and 190 local events.

Sean Olson

USDA long forecast positive, depends on drought

The U.S. Department of Agriculture’s 10-year forecast for commodities suggests strong growth in livestock and crop production. But that’s predicated on more moderate weather patterns.

The report released Feb. 18 was a mix of good and bad with an overall upward trend. After adjusting for inflation, the country’s net farm income for 2013 is forecast at $128.2 billion, the highest since 1973.

But net cash income, or the difference between cash expenses and commodities sold plus other sources of farm income, is forecast to be down from last year by 9 percent to $123.5 billion. It would be only the fourth time since 1973 that net cash income has exceeded $100 billion.

Domestic production of beef is unlikely to increase for at least two more years because ranchers have culled the collective U.S. cattle herd so severely, researchers say.

The authors of the report also said the demand for ethanol and biodiesel grains will continue to grow, albeit at a slower pace than recent years.

The median farm household income is projected to have increased 1.2 percent for 2012 and will rise 1.9 percent in 2013, according to the USDA researchers. That general trend includes data on small operations as well as large businesses.

Dolan Media Newswires

Coeur d’Alene Mines bids on Orko Silver

Northern Idaho-based Coeur d’Alene Mines Corp. has offered to buy Orko Silver Corp. of Canada in a deal valued at $346 million.

First Majestic Silver Corp. of Vancouver, British Columbia, reached a tentative agreement to acquire Orko in December. But the Canadian company decided not to match or counter Coeur’s offer by Feb. 19.

At least two-thirds of Orko shareholders must approve the transaction in a vote scheduled for April. They will also choose among three options for the purchase. These options include a combination of cash, Coeur stock and warrants to purchase Coeur stock.

If approved, Coeur will control Orko’s La Preciosa silver project near Durango, Mexico. La Preciosa holds silver resources on the order of 99 million ounces indicated and 140 million ounces inferred, Coeur’s President and CEO Mitchell J. Krebs said during a conference call with analysts.

Indicated resources are derived from mineral samples and are used to estimate the amount of metal, grade and other physical characteristics. Measured resources are indicated resources that have undergone further sampling with a higher degree of confidence.

The transaction is expected to close in April once shareholder, court and regulatory approvals are obtained.

Scott Ki

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