Manufacturing
Seattle To Promote Industrial Development
By Seattle Business Magazine August 24, 2012
Local government organizations are looking for projects to back in the manufacturing and maritime sectors. Those two sectors enerate $6 billion in taxable retail sales and contribute $37 million in B&O taxes. We will be watching closely to see how this program does. Here is the full press release:
Today Mayor Mike McGinn, Councilmember Richard Conlin, and Council President Sally J. Clark, in partnership with King County and Washington State, launched the Industrial Development Pilot Program. The program is designed to support and grow the regions industrial economy by providing regulatory and policy flexibility, financial incentives, and/or workforce training in support of innovative and sustainable industrial projects.
Washington State, King County and the City of Seattle will select up to ten Industrial Development Pilot Projects for priority assistance to explore regulatory and policy flexibility and financial incentives. By evaluating the success of the pilot projects, long-term, systemic solutions could be identified to support a model that encourages sustainable industrial development in our region and across the state.
This innovative program will encourage new ideas for growth and reinvestment in our valuable manufacturing and maritime sectors. These sectors have long-provided family-wage jobs and a diverse economy for Seattle and the region, said Mayor McGinn. Our message to industrial businesses and property owners is clear. If you have a good idea, we want to support it. If you know of a better way to grow jobs while taking care of the environment, let’ss try it.
In order to be considered for the incentives, projects must demonstrate that they would achieve a positive industrial economic benefit, equal or better environmental performance than current regulations require, and be located on industrially zoned land within unincorporated King County or the City of Seattle.
“This program puts innovation in the driver’s seat of industrial development,” said. Councilmember Richard Conlin, Chair of the Planning, Land Use, and Sustainability Committee and primary sponsor of the Industrial Development Pilot Program. “We want to achieve more sustainable practices and a cleaner environment by pursuing creative alternatives to existing policies and regulations.
Washington’s Puget Sound Region and King County are uniquely positioned to grow as world leaders in the design, manufacturing, and export of locally made products and services in a number of industrial sectors. Success of the region’s manufacturing and maritime industry sectors are essential to retain and create living-wage industrial jobs, and to maintain a diverse regional economy.
In Seattle alone, manufacturing and maritime businesses support more than 90,000 jobs, generate $6 billion per year in taxable retail sales, and contribute over $37 million per year in B&O taxes. Industrial businesses have been resilient during the economic downturn, but need support to remain globally competitive.
Our hope is that these pilot programs will serve as a launch pad for innovative industrial projects that create family-wage jobs and create sustainable and environmentally sound industrial growth,” said Council President Sally Clark, Chair of the Economic Resiliency and Regional Relations Committee.
Responses are due to the Office of Economic Development by 5:00 p.m. on Monday, November 5, 2012. Two question and answer meetings will be held on September 17, 2012 and October 4, 2012.