February 2007: I have now lived in Silverton, two miles from Wallace, for 14 years. While I still agree with what I said below in September 2003, January 2002, and July 2001, I clearly need to update my evaluation of why moving to the Silver Valley, and to Wallace in particular, could be your opportunity of a lifetime. First, a reality check. The Wallace Renaissance I thought was happening in the summer of 2003 fizzled out, as shown on the Growth Table for the 38 month period from October 2003 through December 2006. By my reckoning, we had a net LOSS of ONE business during this time... however, 64 DOWNTOWN BUSINESSES HAVE OPENED, CLOSED, MOVED OR CHANGED OWNERS DURING THIS SAME PERIOD. This must be some sort of record for towns under a thousand people! We are certainly a high energy town... as we always have been. Color me strange, but I think this is a GOOD thing! The town is dynamic, thrusting out in new directions, evolving, and anything but stagnant. It is just damn hard to keep a business afloat more than a couple of years here. You have to know what you are doing, offer something people actually need, be in sync with the locals, have sufficient finanacial resources to start out with, maintain good karma at all times, and not give up during your first winter. While winter is wonderful here (I've been skiing 27 times and it's only mid-February), business is tough in town because it is too easy for people to return to their homes in Spokane, Washington, or Missoula, Montana, after a fun day on Silver Valley slopes and trails. The trick, I believe, will be to get people from far away to think of the Silver Valley, and Wallace in particular, as a winter vacation destination. That is what wallace-id.com is all about, and why I have kept working on this project every day since July 1998. Of course, in order to become a winter destination, as well as a summer destination, we need to have things for folks to do in town after a day of outdoor recreation. So we need more than tourists; we need a few more new and creative residents and businesses in town. What it takes to survive here hasn't changed in my opinion. |
Silver Valley residential listings updated November 09, 2012 |
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Let me say a few words about the opportunities you might find
in Wallace, both expected and unexpected.
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September 2003: Wallace has evolved in several positive
ways since the summer of 2001.
Using the 88 businesses shown on the May 2001
clickable
town map as a baseline, a
dramatic gain in
downtown shops and services can be shown for the period
from August 2002 through September 2003.
Unfortunately, this period was preceded by a
dramatic loss in
downtown shops and services from May 2001 to July 2002.
Taken together, I am calling the effect a
Wallace Renaissance. |
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Summer 2001: Wallace's population in the last census was 960... down 50 from a decade ago ... a far cry from when it was 4000 fifty years ago. With the closure of the 110-year-old Sunshine Mine this spring, unemployment has risen to 13.7% in Shoshone county (population 13,771, down 160 in the last decade). Repossessions are on the rise and home prices are plummeting. It is a buyers' market as the communities in the beautiful Silver Valley struggle to survive. The people who choose to remain are tough, independent and open to new ideas. It is a society in flux. |
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As the culture changes from mining and timbering to historical and recreational tourism, opportunities abound for entrepreneurial people who have the resources and determination to pursue their dream of freedom in a four season recreation paradise. Think about it: in a town of 960 intrepid souls there are three museums, a mine tour, a melodrama, a 110 year old haunted hotel, a dozen gift and jewelry shops, five festivals per year, clean alleys, and a community spirit that shines brighter than any place you ever lived! Many people have moved to Wallace in the last decade because of the scenic beauty and outdoor recreation, only to fail and move on. We joke that Harvard Business School should give an advanced degree to anyone who can move here, start a business and survive more than two years. Many of my friends who moved here after being successful business owners in California and elsewhere have gone into bankruptcy, endured that hardship, learned new tricks and are glad that they did not give up. Wallace is the best place in the world to live, but only if you are smart, talented and adaptable.
In summary, Wallace is a fascinating mixture of historical
charm and new ideas, surrounded by spectacular scenery and
mountain recreation, nestled under a coast-to-coast
interstate, in a county where there are only 5 people per
square mile!
Winter 2002: I am being candid in this postscript because I received an email during the summer from a Silver Valley expatriate who thought I was being a "jerk" when I said that "intelligence" is a prerequisite for moving here. I would simply point out to her and others who might think I'm being an intellectual snob that "intelligence" comes in lots of flavors, and that I have learned the hard way that "street smarts" are far more important to survival in Wallace than "book learnin'." Whatever you call the practice of making consistently good decisions, you will need it to start and maintain a business here. But if you do have what it takes, you could get in on the ground floor of the next Aspen! ... Actually, I only want to "half-Aspenize" Wallace; the quality of life here is almost perfect as it is, we just need a few more "new locals" shopping in our stores to improve the economy for everyone. |
Interested in hearing more about Wallace business
possibilities
from someone who is more "on top of the situation?" Contact Vince Rinaldi at the Silver Valley Economic Development Corporation 703 Cedar Street (800) 523-7889 (208) 752-5511 fax machine: (208) 556-2351 cell phone: (208) 691-3301 |
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If you are new to this page, please leave a bookmark or share it with a friend:
Wallace is at the center of a universe filled with mountain recreation and Old West history that you will want to visit more than once. Please tell me what you would like to see on this and other pages at my Historic Wallace Idaho webworks. |
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Greg Marsh, Ph.D. doing business as Marsh Scientific Services |
greg4mss@hotmail.com |
Please visit these websuites: | |
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©1998-2018, Marsh Scientific Services, Greg Marsh, Ph.D.