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1.2.5 New Business Applications & Annual Growth Rate
Why is this important?
The creation of businesses, both large and small, is an important measure of a region’s economic health. Information about a region’s business creation is regularly collected by state and federal employment bureaus, which use it to evaluate local labor trends, monitor developments in major industries, and develop education and training programs for areas that may need improvement. Typically, one wants to observe high levels of new firms created in a local economy, as this points to a bent for entrepreneurship or business risk-taking.
This indicator measures the number of new business applications submitted in Walla Walla County during the year, as well as the annual percentage change in firm creation from the previous year. Washington State is offered as a benchmark. Additional information, including the total number of applications in both the county and state, can be found in the “Download Data” section.
Where are we?
From 2023 to 2024 in Walla Walla County, there were 596 new business applications submitted.
By comparison from 2023 to 2024, the percentage change of the number of applications in:
- Walla Walla County was 2.8%.
- Washington State was 12.4%.
Data Sources
