House Bill — HB 1778, Economic Resilience Planning (68th Legislature, Regular Session)

Summary

House Bill 1778, an act relating to economic resilience planning, by Representatives Volz and Ryu, State of Washington 68th Legislature. Section 1 states the intent that the department of commerce increase its planning and assistance for diversifying export markets for Washington businesses. Section 2 directs the department to report to the legislature by July 1, 2024, on the anticipated economic impacts of a major disruption to trade with any of Washington's historic top trading partners, with policy recommendations on business assistance for impacted exporters and their employees. Section 3 amends RCW 43.330.060 so that the department prioritizes diversifying foreign export destinations and eliminates economic dependence on any particular foreign market.

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Full text

     H-0961.2

                                HOUSE BILL 1778


     State of Washington       68th Legislature       2023 Regular Session

     By Representatives Volz and Ryu

     Read first time 02/07/23.      Referred to Committee   on   Innovation,
     Community & Economic Development, & Veterans.




 1       AN ACT Relating to economic resilience planning; amending RCW
 2   43.330.060; adding a new section to chapter 43.330 RCW; and creating
 3   a new section.


 4   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:


 5       NEW SECTION.    Sec. 1.   The legislature finds that Washington
 6   state is the most trade focused state in the nation. International
 7   trade and investment is responsible for one-fifth of private sector
 8   jobs in Washington. Washington is the fourth largest exporter in the
 9   United States, and the Seattle-Tacoma-Bellevue metropolitan area is
10   the third largest exporting metropolitan area. Almost 90 percent of
11   the 12,000 companies that export from Washington were small and
12   medium-sized businesses.
13       The legislature further finds that Washington's trade focus has
14   advantages and disadvantages. Washington's trade focus provides job
15   and income growth opportunities during times of peace, but also great
16   economic risk in the event of geopolitical disruption. Therefore, it
17   is the intent of the legislature that the department of commerce
18   increase its planning and assistance for diversifying export markets
19   for Washington businesses.



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 1       NEW SECTION. Sec. 2. A new section is added to chapter 43.330
 2   RCW to read as follows:
 3       The department shall report to the legislature by July 1, 2024,
 4   on the anticipated economic impacts in Washington state in the event
 5   of a major disruption to trade with any of Washington's historic top
 6   trading partners, and make policy recommendations on how the
 7   department could be equipped to provide business assistance to
 8   impacted exporters and their employees in Washington. The report must
 9   include a description of current efforts to diversify Washington
10   state trade relationships and decrease reliance on any one particular
11   trading partner.

12       Sec. 3.   RCW 43.330.060 and 2010 c 165 s 2 are each amended to
13   read as follows:
14       (1) The department shall (a) assist in expanding the state's role
15   as an international center of trade, culture, and finance; (b)
16   promote and market the state's products and services both nationally
17   and internationally; (c) work in close cooperation with other private
18   and public international trade efforts; (d) act as a centralized
19   location for the assimilation and distribution of trade information;
20   and (e) establish and operate foreign offices promoting overseas
21   trade and commerce. In carrying out these responsibilities, the
22   department shall prioritize diversifying foreign export destinations
23   and eliminate economic dependence on any particular foreign market.
24       (2) The department shall identify and work with Washington
25   businesses that can use local, state, and federal assistance to
26   increase domestic and foreign exports of goods and services. In
27   carrying out this responsibility, the department shall prioritize
28   diversifying foreign export destinations and eliminate economic
29   dependency on any particular foreign market.
30       (3) The department shall work generally with small businesses and
31   other employers to facilitate resolution of siting, regulatory,
32   expansion, and retention problems. This assistance shall include but
33   not be limited to assisting in workforce training and infrastructure
34   needs, identifying and locating suitable business sites, and
35   resolving   problems   with  government   licensing   and   regulatory
36   requirements. The department shall identify gaps in needed services
37   and develop steps to address them including private sector support
38   and purchase of these services.


                                     p. 2                          HB 1778
 1       (4) The department shall work to increase the availability of
 2   capital to small businesses by developing new and flexible investment
 3   tools; by assisting in targeting and improving the efficiency of
 4   existing investment mechanisms; and by assisting in the procurement
 5   of managerial and technical assistance necessary to attract potential
 6   investors.
 7       (5) The department shall assist women and minority-owned
 8   businesses in overcoming barriers to entrepreneurial success. The
 9   department   shall  contract   with  public   and   private   agencies,
10   institutions, and organizations to conduct entrepreneurial training
11   courses for minority and women-owned businesses. The instruction
12   shall be intensive, practical training courses in financing,
13   marketing, managing, accounting, and recordkeeping for a small
14   business, with an emphasis on federal, state, local, or private
15   programs available to assist small businesses. Instruction shall be
16   offered in major population centers throughout the state at times and
17   locations that are convenient for minority and women small business
18   owners.
19       (6)(a) Subject to the availability of amounts appropriated for
20   this specific purpose, by December 1, 2010, the department, in
21   conjunction with the small business development center, must prepare
22   and present to the governor and appropriate legislative committees a
23   specific, actionable plan to increase access to capital and technical
24   assistance to small businesses and entrepreneurs beginning with the
25   2011-2013 biennium. In developing the plan, the department and the
26   center may consult with the Washington state microenterprise
27   association, and with other government, nonprofit, and private
28   organizations as necessary. The plan must identify:
29       (i) Existing sources of capital and technical assistance for
30   small businesses and entrepreneurs;
31       (ii) Critical gaps and barriers to availability of capital and
32   delivery   of   technical   assistance   to   small    businesses   and
33   entrepreneurs;
34       (iii) Workable solutions to filling the gaps and removing
35   barriers identified in (a)(ii) of this subsection; and
36       (iv) The financial resources and statutory changes necessary to
37   put the plan into effect beginning with the 2011-2013 biennium.
38       (b) With respect to increasing access to capital, the plan must
39   identify specific, feasible sources of capital and practical
40   mechanisms for expanding access to it.
                                      p. 3                          HB 1778
1       (c) The department and the center must include, within the
2   analysis and recommendations in (a) of this subsection, any specific
3   gaps, barriers, and solutions related to rural and low-income
4   communities and small manufacturers interested in exporting.

                                --- END ---




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