WA Economic Development Assn March 22, 2017 Kris Johnson | - - PowerPoint PPT Presentation

wa economic development assn march 22 2017
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WA Economic Development Assn March 22, 2017 Kris Johnson | - - PowerPoint PPT Presentation

WA Economic Development Assn March 22, 2017 Kris Johnson | President, AWB AWB Mission & Vision Mission : AWB is the catalytic leader and unifying voice for economic prosperity throughout Washington state. Vision : Washington will excel as


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WA Economic Development Assn – March 22, 2017

Kris Johnson | President, AWB

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AWB Mission & Vision

Mission: AWB is the catalytic leader and unifying voice

for economic prosperity throughout Washington state.

Vision: Washington will excel as a globally competitive

state built on a solid foundation of innovation, a world class workforce, and a quality of place second to none.

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Achieve: Provide a high-caliber education and workforce development system aligned with the demands of the 21st century. Connect: Create an efficient infrastructure system that links Washington’s employers and communities to each other and to the world. Employ: Encourage and support innovation, entrepreneurship, job retention and creation. Compete: Foster a business environment conducive to creating a resilient and growing, statewide economy. Place: Cultivate actions that enable vibrant communities and environments.

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Strategies for Achieving Mission & Vision

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Inside Washington

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State of the State: Washington Economy

  • March revenue forecast shows $571 million more in

state tax collections through 2019 due to economic growth in addition to the 6% growth previously forecast.

  • Washington state has the lowest cost electricity for

industrial customers in the nation.

  • The state is a leader in innovation, 5th in the nation

with over $1 billion in venture capital investment.

  • Washington state’s $82 billion in annual exports

makes it the 4th largest exporter in the country.

  • Washington is a high cost state to do business
  • 9th highest in the nation in business taxes
  • Employers pay nearly 54% of total taxes
  • The state’s minimum wage is the highest in the

nation, $9.32

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Washington Unemployment by Counties

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Economy

Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics/CES

Job growth and decline across state

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Economy

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Nationwide

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National Picture – Years of Slow Growth

  • December non-farm private-sector

job growth was lackluster at 153,000

  • Federal Reserve announced a rate

hike of 0.25 percent in December

  • U.S. economy is predicted to grow

at 2 percent; 4 percent is needed

  • Health care costs skyrocketing
  • Regulation hurting economy
  • Fourth quarter 2016 Real GDP

Growth = 1.9%

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Housing Recovery

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U.S. home values continue to regain value lost since 2007

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Obama Counties that went to Trump

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National Infrastructure

  • Convened cities, counties and ports to

prepare one statewide report to ensure we are ready to respond when Congress takes action

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2017 Edelman Trust Barometer

  • Measures public confidence in four

major institutions

  • Media
  • Government
  • NGOs
  • Business
  • 2017 report shows “implosion” of

trust as all four decline

  • Government and Media fare worst
  • Business and NGOs fare best

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Opportunity & Obligation for Business to Lead

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Outlook

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State of the State: Washington Critical Issues

  • 2017 Issues
  • Education funding (“McCleary Decision”)
  • Carbon cap
  • Predictive/Restrictive scheduling
  • Paid vacation, FMLA, pay & equity
  • State budget
  • State taxes – B&O, capital gain, carbon,

removal of incentives

Legislative session

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Manufacturing – Best Growth Since Recession

  • Of the 32 states that

average more than 100,000manufacturing jobs overall, Michigan has attracted largest percent of growth with 32.49% since 2010

  • Washington ranks No.

14 at 9.74%

  • California, which

published this graphic, was 24th out of 32 with 2.57%

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Seattle Trends

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  • Economy is

booming, fueled by tech sector

  • $4.4 billion worth
  • f construction
  • 68 buildings

under construction at end of 2016

  • The most in more

than a decade

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Rural Jobs Summit

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Small Business Strength

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  • Washington top-ranked

state for small business in Paychex/IHS Small Business Jobs Index

  • Seattle is the top-ranked city
  • Nationally, small business

growth has plateaued, but at a solid pace of employment gains

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Focus on Jobs – Washington’s Working Waterfront

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#GrowHere Employer Image Campaign

  • Telling the story of Washington

employers who are succeeding in business and improving the community.

  • Multi-media campaign began Feb.

26 during the Oscars

  • M3 Biotechnology – Working on a

cure for Alzheimer’s disease

  • The McGregor Company – Century
  • ld ag company cares passionately

about rural communities and farm families

  • Alaffia – Mission-driven fair trade

skin products company putting people to work in Washington and waging war on poverty in the West African nation of Togo.

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Thank You

KrisJ@AWB.org or @KrisJohnson_IOM