Washington’s economy is supported by small businesses, and it was small business that pulled the state through difficult economic times. According to the Brookings Institution, the nation’s small business sector is one of the great strengths of the U.S. economy, historically accounting for 64 percent of net new jobs. New and young small businesses have generated 40 million jobs in the past 25 years, representing 20 percent of gross job creation.
Washington’s economy is built on abundant, reliable and affordable electric energy. Although Washington relies primarily on inexpensive, zero greenhouse gas emitting hydropower, it also has significant biomass and wind resources that are potential sources of renewable energy.
Manufacturing in the state of Washington is an international success story in growth and innovation. From commercial airplanes and heavy-lift cranes to hydraulic jacks, semiconductors and doors, Washington’s manufacturers are recognized around the globe as leading industry innovators.
Today, more than ever, Washington state needs a workforce pipeline filled with candidates who have the necessary skills to help their businesses grow in a globally competitive economy. Sadly, finding those skilled workers, even in the midst of record unemployment, remains a challenge.…
The importance of Washington state’s transportation system cannot be overstated, in terms of both the jobs it creates and the value to our economy by moving people, goods and services.
Manufacturing in the state of Washington is at the same time, an international success story and an industry in transition. From commercial airplanes and heavy-lift cranes to hydraulic jacks, semiconductors and doors, Washington’s manufacturers are recognized around the globe as leading industry innovators.
Washington state’s health care system is one of the best in the country. Our network includes award winning hospitals, cutting-edge research institutions that provide the latest in technology and patient care procedures, state-of-the-art foundation analysis of health care quality and an excellent postsecondary system that delivers a professional and skilled workforce.
One policy that has had tremendous impact on Washington’s economy is the exemption from sales and use taxes on manufacturing machinery and equipment. This tax incentive, created by the Legislature in 1995, was designed to serve as a stimulus for investment in our state’s manufacturing industry and related businesses.
The good news is this exemption has significantly outperformed these expectations.