WEDA Economic Development Updates - Suzanne Dale Estey, Washington Economic Development Association (Q4 2021)

Summary

WEDA economic development updates by Suzanne Dale Estey, WEDA Executive Director, dated Q4 2021, set out the Washington Economic Development Association's 2022 legislative priorities. The slides give unemployment rates of 4.8% for the US and 4.9% for WA State, with the state rate noted as high as 16.3% in 4/20. For associate development organizations they state that over the last five years local partners helped over 717 businesses expand or develop new facilities and assisted 226 start ups, with over 13,078 new jobs created. Legislative requests include $25M one-time for a Catalytic Opportunity Fund, $7.5M for CERB, and extending the .09 percent sales and use tax for rural counties (HB 1333).

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

  Working Together for Job
Recovery & Economic Vitality
     Across Washington




   Suzanne Dale Estey, WEDA Executive Director
                     Q4 2021
What We Do
   Washington State’s only trade association laser-focused on
    economic development
   WEDA is committed to recovering, retaining, expanding and
    recruiting jobs and investment across all of Washington State
   25th Anniversary in 2020
   Our Strategic Goals – since COVID-19: Creating an imperative to
    empower communities across Washington with tools to recover
    from the COVID-19 crisis, assisting employers large and small in
    rebuilding, becoming globally competitive and growing jobs,
    while supporting an equitable economy and inclusive economic
    development.
   We Believe: The time is now to rebuild our economic vitality,
    increase the resiliency of our economy and strengthen the
    economic development ecosystem at state, regional and local
    levels.
Statewide Challenges but Progress


                                    US Rate:
                                    4.8% -
                                    7.4M

                                    WA State
                                    Rate:
                                    4.9% --
                                    was as
                                    high as
                                    16.3% in
                                    4/20

                                    Source: WA
                                    State ESD; US
                                    BLS
WEDA’s Top 2022 Legislative Priorities
 WEDA’s 2022 Legislative Agenda focuses on the most critical actions
 lawmakers can take to recover, retain and grow living wage jobs,
 foster vibrant communities, support equity and opportunity for all
 and spark re-investment across Washington State:


      2022 ECONOMIC LEGISLATIVE AGENDA
  Strengthen the Economic Development
    Ecosystem
  Foster Catalysts for Job Recovery & Growth

  Increase Prosperity for All of Washington
Onward & Upward: Economic Recovery
Resources Forum (7/2020), Recovering Jobs &
Rebuilding Communities (3/2021),
Reconnecting on the Road to Recovery (8/2021)
Key COVID-19 Learnings:
   Diversity, Equity & Inclusion must be central to our work
   Main Streets/small businesses need more help; must work with
    lenders on flexibility in lending to small, Main Street and
    microenterprises; lower hurdles to access capital
   Addressing broadband infrastructure gaps is essential
   Critical need for Child Care infrastructure and options
   Workforce Housing is an economic imperative
   Employers and economic developers must share learnings/
    best practices broadly and work together!
Strengthen the Economic
Development Ecosystem
WEDA believes a robust economic development ecosystem at the
state, regional and local levels is crucial for sustained economic
recovery.
2022 LEGISLATIVE REQUESTS:
   Support & protect state-level leadership and funding for economic
    development, including full support for Business Recruitment,
    Retention & Expansion programs (2021: Maintenance level + some
    increases (e.g.: Creative Economy; Manufacturing - HB 1170;
    Business Resiliency Partners)
   Support & protect funding for regional capacity to coordinate and
    deliver economic development services. (2019 & 2021 $2M
    restoration)
Strengthen the Economic
Development Ecosystem
Associate Development Organizations/Economic Development
Councils
   Governor Booth Gardner created “Team Washington”
    network in 1985 – still high-performing 36 years later
   34 regional economic development organizations serve all 39
    counties
   “Ground game” for Washington State Commerce
    department; underpin the State’s economic development
    programs and initiatives
   Enhance economic development service delivery and results
    statewide through public‐private, state‐local partnerships
   Mission: confidential, client-based economic development
    that public-private partnerships are uniquely equipped to
    provide
Strengthen the Economic
Development Ecosystem
Associate Development Organizations/Economic Development
Councils
COLLECTIVE RESULTS:
   Over the last five years, local ADO/EDC partners have helped over 717
    businesses expand or develop new facilities and assisted 226 start ups.
   These companies have invested over $2 billion in land, buildings and
    equipment.
   These growing businesses have created over 13,078 new jobs
   EDC business clients are estimated to generate over $100 million in new
    tax revenues for Washington State and local communities. Every state
    dollar leverages a match of at least six dollars from other public and
    private sources.
Through COVID-19 Crisis, ADOs worked in partnership with Commerce,
counties and cities to solicit, implement and fund over 13,000 small
business grants. In WA-Round One, over 26,000 applications were received
for 1,442 awards. ADOs also executed extensive outreach to hundreds of
nonprofit organizations and underserved communities on resources such as
federal Paycheck Protection Program, EIDL & RRF.
Strengthen the Economic
Development Ecosystem
Many important economic development entities, players – ADOs/EDCs play
critical role as conveners and catalysts:
   Washington State Department of Commerce, including Industry Sector Leads
   Other state and federal agencies, WA Small Business Development Centers
   Ports (some are Associate Development Organizations)
   Local Government – Counties & Cities
   Tribes
   Universities
   Workforce development partners
   State industry cluster/trade associations (AFA, WTIA, LSW, WA Maritime Fed.)
   Association of Washington Business, Washington Roundtable, local Chambers of
    Commerce, private businesses, banks, Community Devel. Financial Institutions
   Utilities & Railroads
   Other coalitions/EDOs/regional EDOs/Economic Development Districts/MPOs
   Labor partners
   And many more: Visitor & Convention Bureaus, Main Street, MDOs,
    redevelopment agencies, Impact Washington, incubators & accelerators
Foster Catalysts for Job
Recovery & Growth
WEDA supports investments in state infrastructure and programs that
catalyze business recovery, retention, expansion and recruitment at the
regional and local levels.
2022 LEGISLATIVE REQUESTS:
 Support Small Business & Microenterprise recovery with enhanced
   technical assistance and initiatives to strengthen the statewide Small
   Business ecosystem:
       WA Small Business Development Center ($1M) and Minority
        Business Development Agency ($400K), both lacking state
        support
       Capacity building/ecosystem alignment ($650K – one-time)
       Catalytic Opportunity Fund – ignite regional/local partnerships to
        spur recovery esp. underserved communities ($25M – one-time)
   Support strategies to help the devastated Tourism, Hospitality &
    Manufacturing sectors
Foster Catalysts for Job
Recovery & Growth
WEDA supports investments in state infrastructure financing tools and
programs that catalyze business recovery, retention, expansion and
recruitment at the regional and local levels.
2022 LEGISLATIVE REQUESTS:
   Spark Shovel-Ready Manufacturing Sites
        $7.5M for CERB – job growth in rural & urban counties; $2.5M grants for
         shovel-ready sites
   Invest in infrastructure through state public works programs which support
    expanding businesses (CERB core funding, Public Works Board, TIB)
   Support broadband capacity initiatives and investment
   Support increased investments in road and transit infrastructure, maintenance
    and services to more efficiently move people and freight
   Protect Economic Development Strategic Reserve Fund
   Protect targeted incentives to foster innovation clusters and private
    investment
Increase Prosperity for All of WA
WEDA supports policies and investments that ensure that all parts of the state,
and all people, benefit in economic recovery and growth through inclusive
economic development. The economic vitality of rural and underserved urban
areas is critical to the long-term health of the entire state.
2022 LEGISLATIVE REQUESTS:
 Extend the .09 percent Sales & Use Tax for Public Facilities and
   economic development activities in Rural Counties (HB 1333)
   Rural counties in Washington have benefitted from up to a .09%
   “rebate” of locally-generated state sales and use tax for over 20 years.
   Tool has helped to build critical infrastructure, attract new industry and
   diversify economies, and create and retain jobs.
 Protect 2021 Diversity, Equity & Inclusion investments (Small Business
   Resiliency Network, Small Business Online Tools, Equity Dev. staff)
Additional WEDA Priorities
2022 LEGISLATIVE REQUESTS:
   Workforce Development:
       Human capital essential for business innovation, growth and competitiveness
       Pandemic has created a serious gap between the available workforce and the
        changing demands of Washington employers
       Support Washington’s 12 Local Workforce Development Boards which leverage public
        and private resources to meet talent pipeline needs; support establishing a
        Workforce Innovation Fund for regional/community-driven responses
       Other important workforce programs include Job Skills Program, Customized Training,
        Apprenticeships, One-Stop WorkSource Centers, Career-Connected learning
       Preservation of state funding for post-secondary/higher education
       Strong K-12 system and early earning -- must address severe childcare capacity gaps

   Housing Affordability & Supply: WEDA will support legislation to improve housing
    affordability and expand opportunities for housing at all income levels,
    particularly workforce housing.
   Clean/Green Economy: WEDA will support programs and funding to create jobs in
    the Clean Economy, while also maintaining a balanced approach.
   Rulemaking: WEDA supports permit streamlining/efficiency initiatives that
    increase predictability in development.
COVID-19 Economic Response & Recovery
   Weekly members meetings – resources and best practices; regular
    communications; Economic Resiliency Tool Box; resource-filled
    conferences
   Advocacy for ecosystem & small business assistance
   Mobilizing & maximizing resources for WA State’s small businesses &
    nonprofit employers, in partnership with many:
       Washington State Small Business Recovery Working Group
       TA Grants Q1-Q2 2021: outreach - 26K, TA - 11K+ businesses
       PPP: 2020: $12B+ to 102K; 2021: $5.9B+ to 91K small businesses
       EIDL (w/improvements): $5.6B to 68K+ businesses; Restaurant
        Revitalization Fund: $921M+ to 3,247; SVOG: $269.7M in 331 grants
       WA Small Business Flex Fund: $18.8M in 219 loans - $224M requested
       Mobilizing multi-discipline teams statewide & regional (ADO,
        Commerce, SBDC, Commerce Resiliency Partners, banks/lenders,
        CDFIs, chambers, other economic development partners &
        community leaders) & supporting with “TA Tuesdays” and resources
   Next Big Opportunity: SSBCI $124.4M
WA Small Business Resources Campaign
Let’s Connect
Suzanne Dale Estey
Executive Director
Washington Economic Development Association
206-769-4217
suzanne@wedaonline.org

      www.wedaonline.org

     /WashingtonEconomicDevelopmentAssociation


      /company/washington-economic-development-association/


      @WashingtonEcon1


File and source

File

2021-11-19_a29274_d236680_weda-economic-development-updates.pdf

Size

908,188 bytes

SHA-256

4ea5b27a963eb74bcc0312894010c7dd027c92983ca6bc6d95ed283ae88892ad

Our copy

2021-11-19_a29274_d236680_weda-economic-development-updates.pdf

Original

No public link identified.