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Yakima Valleys wine town names top 5 wine tourism regions
Sep 19, 2007
Yakima Valleys vineyard production, the explosive growth of new wineries and expansion of others has caught the eye of investment groups throughout the country.
Prosser ranks in the top five emerging wine investment regions in the United States, according to NuWireInvestor.coms article on the Top 5 Emerging Wine Investment Regions. "As the regions become more popular with wine tourism, there is increased demand for lodging, restaurants and other tourist-driven businesses," according to NuWire.
Prosser is listed as one of the most promising areas for investment in Washington State. "Selection was based on real estate prices, historical and projected tourism growth, relative strength of rental markets, employment, cost of living and natural appeal," Jeremy Ames, NuWires executive editor, said.
cities/states making the top five are Dundee and McMinnville in Oregon; Marsing, Idaho; Sedona, Arizona; and Fredericksburg, Texas.
Summary of article follows:
Top 5 Emerging Wine Investment Regions
Published on: Sunday, July 01, 2007
Written by: Trista Winnie
The heart of California wine country—the Napa and Sonoma regions—are out of the price range of many potential investors. "Land prices are high relative to bottle prices in Napa and Sonoma, and getting more expensive for the production of fine wine," Jenny Heinzen, director of winery and vineyard sales for WineryX Real Estate in Napa Valley, said.
Fortunately, there are other regions of the country producing wines that also have devoted followers and attractive potential upsides. As the regions become more popular wine tourism destinations, there is increased demand for lodging, restaurants and other tourist-driven businesses. Investors could also benefit from the increasing real estate values in the areas.
Washington:
Washington's "number of wineries has increased 400 percent in the last decade, attracting two million annual visitors to Washington wine country and creating a two million dollar wine-tourism industry," according to Wines Northwest. Red grapes grow especially well in Washington, and Washington syrahs have been growing enormously in popularity.
Promising areas: Prosser (Yakima Valley) and Walla Walla (Walla Walla Valley)
Conplete article can be seen at:
http://www.nuwireinvestor.com/articles/top-5-emerging-wine-investment-regions-51146.aspx
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Washington Wine Commission
www.washingtonwine.org
Washington Association
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www.winegrapes.wsu.edu
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