Local sales strong in fourth quarter

The fourth quarter produced strong retail sales in the city of Spokane and Spokane County, according to figures released Monday by the Washington Department of Revenue.

Taxable retail sales were $1.8 billion in Spokane County in the last three months of 2005, a 9.2 percent increase from the same period the previous year. Retail trade, a figure that doesn’t include the volatile contracting sector, was $917.9 million, up 6.3 percent from the fourth quarter of 2004.

The city of Spokane had taxable retail sales of $958.9 million, up 8.8 percent from the previous year, and retail trade of $483.3 million, up 6.6 percent.

Randy Barcus, chief economist at Avista Corp., said, “When people are willing to part with their money, that’s the sign of a solid economy.” The only surprise in the numbers is that the city of Spokane’s retail trade rose more on a percentage basis than did Spokane County’s; the reverse typically is the case, Barcus added. The figures show “more balance in retail within the jurisdictions,” he said.

Spokane

River Park Square bistro to relocate

Twigs Bistro and Martini Bar will expand its River Park Square restaurant by moving into a larger space in the downtown Spokane mall.

The eatery, owned by Karen and Jeff Blackwell, will take over the third-floor space currently occupied by Mariposa, a clothing store.

Mariposa is moving down a floor to a second-level suite next to Aveda and Regis Hair Salon.

Sherry Johnson, director of marketing for River Park Square, said the restaurant could debut in its new location by late fall.

The Blackwells also have a Twigs restaurant in north Spokane and one that is slated to open this week on the South Hill.

Caracas, Venezuela

New scheme lets state claim oil

Venezuela reclaimed more than 10,700 square miles in potential drilling acreage from private oil companies last month by requiring them to join new state-controlled joint ventures, a newspaper reported Monday.

Amid efforts by the Venezuelan government to take greater control of the oil industry and boost its share of revenues, private companies operating 32 oil fields were required last month to form joint ventures with the state.