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U.S. Legislative, Incentives, & Economic Development Policies Update

Jason Hickey, President, Hickey & Associates, LLC (Q1 2016)
Growing companies need to be aware of the many changes states are making to their incentives policies. More

Regional Report: Tax and Other Incentives Help Job-Creation Numbers in the Pacific States

Steve Stackhouse-Kaelble (Directory 2016)
In response to their specific needs, the Pacific States have instituted varied business-support tools that enhance their competitiveness. More

Data Center Demand Emerges Throughout New Locations in North America

Area Development Research Desk (Directory 2016)
Data centers are key economic drivers in markets within which they operate, and operators have looked to be more efficient with their locations, expanding into regions with more flexible utility costs, incentives packages or lower taxes. More

Frontline: West Coast Ports Unite to Solve Challenges

Karen Thuermer (Q3 2015)
Manufacturers of imported and exported goods between the United States and Asia let out a huge sigh of relief in late May when a five-year contract that governs pay and work rules at 29 West Coast ports was finally ratified. Despite the ratified agreement, manufacturers are certain that strikes and delays will continue at West Coast ports. More

Industry/Education Partnerships Hold Promise for Advanced Technology Industries

Dave Claborn , Director of Development and Community Relations, Ohio State University, Marion (2015 Auto/Aero Site Guide)
As older skilled workers retire and younger workers take their place in industries with constantly evolving technology, the boundaries between industry and academia have begun to blur. More

Choosing the Optimal Site for an Aviation-Related Project

Von Hatley, Managing Director, Jones Walker Consulting, LLC (2015 Auto/Aero Site Guide)
If current trends continue, a conservative estimate reveals there will be more than 1,000 announcements of aviation-related projects in the United States over the next decade. The best location decisions will be made by project teams that not only look at the current overall costs, but also have a deep understanding of hidden site development costs, in addition to the long-term political/financial stability that a region can provide. More

Auto/Aero Firms Redrawing the Map

Dale D. Buss, Staff Editor, Area Development (Q2 2015)
Strong sales in the auto industry and a rebounding aerospace sector are spurring new facility/expansion projects in legacy as well as new locations. More

Expanding the Cloud: The Top Data Center Markets in North America

Area Development Research Desk (Data Centers 2015)
The data center market is seeing high demand and low price. The competitive pricing is due in part to the large number of options available, yet the industry is expected to enjoy 32 percent growth in North America by 2016, ultimately becoming a $14.8 billion market. More

WASHINGTON at a glance

POPULATION:6,968,200 (State Office of Financial Management - April 2014)

LABOR FORCE: 3,484,200 (Washington State Employment Security-Aug. 2013)

RIGHT TO WORK: No

KEY INDUSTRIES:Aerospace, information and communication technology, clean technology, life sciences/ global health, forest products, value-added agriculture, food processing, marine technology, military and defense

EXPANDING INDUSTRIES: Advanced manufacturing, composites, biotechnology, clean energy, electronics, telecommunications, software, international trade services, maritime, scientific instruments, machinery, value-added agriculture

COLLEGE GRADUATES: (Age 25 and over) 31%

BASIC BUSINESS TAXES:
Washington State has no corporate or personal tax on income, and no capital gains tax.

Business and Occupation Tax: Washington imposes this tax on most businesses; it is based on gross receipts and there are few deductions available; the rate for manufacturers, distributors, and wholesalers is 0.484 percent; the rate for retailers is 0.471 percent; services are now subject to a uniform B&O tax rate of 1.5 percent; other B&O tax rates vary.

Sales and Use Tax: Sales tax must be collected on retail sales of tangible personal property, as well as cleaning, repairing, altering, or improving real property and tangible personal property, including labor charges; use tax is due on the value of tangible personal property used in the state on which retail sales tax has not been paid; exemptions include groceries and prescription drugs; the state sales tax is 6.5 percent; the local rate varies from 0.5 to 3.0 percent depending on the location where the customer receives the goods or the services are performed.

Property Tax: Local tax with rates based on appraised value and varying by location; the average statewide effective property tax is $11.78 ($12.25) per $1,000 of assessed value.

BUSINESS INCENTIVES:

Sales and use tax exemption on machinery and equipment used in manufacturing

Reduced B&O tax rate for aerospace businesses, solar energy systems and components of solar energy manufacturers, timber extraction and biomass fuels

Reduced B&O tax rate for manufacturers of semiconductor materials

B&O Exemption for Manufacturers of Fruit, Vegetables, Dairy and Seafood

Rural county sales and use tax deferral for eligible data centers

Rural county B&O credit for new employees in manufacturing facilities

Sales Tax deferral for warehouse, distribution centers and grain elevators

High Unemployment County Sales & Use tax deferral/Waiver on Construction of Manufacturing Facilities

High technology sales and use tax deferral and exemption and B&O tax credit

Community Empowerment Zone and Enterprise Communities Foreign Trade Zones incentives

Community Economic Revitalization Board and Development Loan funding

Renewable energy incentives

Washington State Job Skills Program

PRINCIPAL MANUFACTURING INDUSTRIES

Aerospace (commercial airplanes, UAV/S, space, aviation biofuels)

Clean Technology (power storage/batteries, smart grid)

Maritime (shipbuilding, fish processing)

Life Sciences/Global Health (medical devices)

Information & Communication Technology (cloud computing, software/app development, mobile communications)

Agriculture (food processing)