Presentation — Keith Swenson, Office of Economic Development & Competitiveness (October 6, 2023)
Summary
This presentation names Keith Swenson, Deputy Assistant Director of the Office of Economic Development & Competitiveness (OEDC), and is dated October 6, 2023, for the House Innovation, Community & Economic Development, & Veterans Committee. It describes OEDC functions including Business Development, Small Business Export Assistance, Small Business Finance & Community Support, and Small Business Training & Education. It states the Operating Budget provides $4,304,000 per fiscal year for the 2023-2025 biennium and refers to 35 contracts requiring standardized targets and reporting metrics. It lists Key Metrics including new or created jobs, retained jobs, and capital investment either public or private.
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
Cite this document
“Presentation — Keith Swenson, Office of Economic Development & Competitiveness (October 6, 2023).”
Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2023-10-06-a31385-d262745-com-2023-1006-panel-1-ados-8dcc248fea/
, SHA-256 89f2bfe6c5d160d089e65db2ec07329ea91b37ee18c4d93af17ad27c594d3ba6.Full text
Office of Economic
Development &
Competitiveness
House Innovation, Community &
Economic Development, & Veterans
Committee Presentation
Keith Swenson
DEPUTY ASSISTANT DIRECTOR
OCTOBER 6, 2023
Office of Economic Development
& Competitiveness (OEDC)
Business Development: Works with local economic development organizations, site selectors, corporate decision-makers
and investors to site, relocate and expand business operations throughout Washington State.
Small Business Export Assistance: Helps Washington companies engage in successful trade strategies through a range
of support services and programs that help businesses enter and expand in key markets, increase sales revenue and create
living wage jobs. Focused on expanding outreach and support to small businesses in rural and underserved communities.
Small Business Finance & Community Support: Provides small businesses with access to capital through innovative loan
programs as well as assisting those seeking financing to become funding ready.
Small Business Training & Education: Supports the needs of small businesses (<99 employees) with programs and
services designed to help them move through the various stages of the business lifecycle, from ideation through exit
strategy.
State Business & Visitor Attraction: OEDC directs the state’s marketing strategies for business attraction and investment
as well as attracting visitors to the state via sustainable tourism.
Sector Leads: Sector Leads work closely with the Governor, legislators, industry and government leaders to forge and
promote public-private partnerships, enhance the workforce for the 21st century in targeted, high-growth industries, and
advance broad stroke strategies that support small business growth and expansion statewide.
WASHINGTON STATE DEPARTMENT OF COMMERCE 2
Our growing partnership network
U.S. Small Business
Administration
Small Business
Development Centers Other Commerce
Divisions
Chambers Washington Economic
Development Assoc. Other State
SCORE Offices Agencies New Players
OEDC
Washington State
Non-Profits Microenterprise Assoc.
The Unknowns
Ports
Philanthropy Minority Business
Development Agency
Foundations City/County
Small Business Econ. Dev. Offices
Resiliency Network
Community Dev.
Financial Institutions
WASHINGTON STATE DEPARTMENT OF COMMERCE 3
Key Partnerships
Shared Priorities
• Sustainable Growth Pathways – Innovation Economy: Identify high-growth companies and provide
them with additional investments in workforce, permit-ready or build-ready siting, consulting,
collaboration, R&D and market readiness.
• Strengthen international partnerships: Expand international trade activities to provide businesses
with access to new and emerging markets.
• Establish connectivity with traditional sectors: Through shared goals and initiatives with
established industries.
• Build out established programs: Into a broader circular economy effort that supports each of the
traditional sectors.
• Connect tourism sector as a state economic development strategy: On a par with business
attraction, international trade and foreign investment.
WASHINGTON STATE DEPARTMENT OF COMMERCE 4
Agility & Responsiveness
Pandemic Response
• Statewide coverage with local
focus: Key connectors of
communities to the State,
providing knowledge and
expertise of local resources and
needs.
• Support pandemic recovery:
Infuse grant funds statewide to
stabilize creative businesses
and stimulate creative economy
post pandemic recovery.
WASHINGTON STATE DEPARTMENT OF COMMERCE 5
Economic Resiliency
Continued Collaboration
• Continue to build momentum: For newly created programs (Industrial Symbiosis,
NextCycle Washington) in the circular economy framework.
• Capitalizing on Federal funding opportunities: Secure federal funding for new innovation-
based activities that align with the state’s economic priorities.
• Access to Capital: Increase access to capital, particularly for businesses that have been
left out of the credit market historically.
• Dynamic business development opportunities: Support ideation and innovation by
identifying and, in many cases, creating opportunities in the domestic and global
marketplace.
• Support tourism preparation activities related to the 2026 World Cup: Including
marketing, capacity building and equitable access to business opportunities.
WASHINGTON STATE DEPARTMENT OF COMMERCE 6
Authority, Budget, Contracting & Reporting
• RCW 43.330.082 – Performance measures & summary of best practices
• Associate development organizations must provide the department with measures of their performance and a
summary of best practices shared and implemented by the contracting organizations.
• Operating Budget provides $4,304,000 per fiscal year for the 2023-2025 biennium
• Local Match - required based on per capita
• ADO designation is provided to Commerce
• Which entity is going to contract with Commerce for each county
• Contract build – ADO target negotiation
• Based on each county’s population and unique economic landscape as identified by the ADO & Commerce
• ADO Annual reporting – ADO Legislative Report
• Cumulative report on all ADO Key Metrics
• ADOs choose the focus/impactful wins – jobs & capital investments to the county
WASHINGTON STATE DEPARTMENT OF COMMERCE 7
35 contracts requiring standardized targets and
reporting metrics
Targets pulled from 43.330.082 Deliverable 1: Business Plan - The GRANTEE will describe to COMMERCE their business plan, including
long term strategies and collaboration with local stakeholders.
Deliverable 2: Target Interactions - The GRANTEE and COMMERCE have negotiated the required GRANT
performance measures that will be used by the GRANTEE and COMMERCE to annually assess GRANTEE
performance. The GRANTEE shall collect data and using the web-based information system provided by
COMMERCE, provide quarterly reports on all required data. These reports are a GRANT deliverable.
Deliverable 3: Required Key Metrics - The GRANTEE shall collect data and using the web-based
information system provided by COMMERCE, provide annual reports for each fiscal year, FY24 and FY25
on all required data in Required Key Metrics, which includes entering Key Metrics within the Project
Initiatives tab. These reports are a GRANT deliverable.
Key Metrics are: new or created jobs, retained jobs, capital investment either public or private, number of
new jobs above average wage, number of start-up businesses assisted and the amount of Direct Foreign
Investment (FDI).
Deliverable 4: Diversity, Equity and Inclusion (DEI) work is an integral part of our economic development
work and the GRANTEE will describe their activities and best practices used to increase DEI work within
their county.
Deliverable 5: Summary of Best Practices Report - Summary of Best Practices Shared and Implemented
by the contracting organizations. Annual reports must include the information to show the contracting
organization’s impact on employment and overall changes in employment as noted in RCW 43.330.082.
WASHINGTON STATE DEPARTMENT OF COMMERCE 8
Thank you!
www.commerce.wa.gov
Keith Swenson Dave Pringle
DEPUTY ASSISTANT DIRECTOR, LEGISLATIVE DIRECTOR
OFFICE OF ECONOMIC DEVELOPMENT & COMPETITIVENESS Dave.Pringle@commerce.wa.gov
Keith.Swenson@commerce.wa.gov
Brenda Pearson
MANAGING DIRECTOR, GRANTS, CONTRACTS & PROCUREMENT
OFFICE OF ECONOMIC DEVELOPMENT & COMPETITIVENESS
Brenda.Pearson@commerce.wa.gov
File and source
- File
- 2023-10-06_a31385_d262745_com-2023-1006-panel-1-ados.pdf
- Size
- 819,838 bytes
- SHA-256
- 89f2bfe6c5d160d089e65db2ec07329ea91b37ee18c4d93af17ad27c594d3ba6
- Original
- No public link identified.