Year-end is a time to reflect, take stock and celebrate the work the EDB does to help create new jobs and grow the South Sound economy. With support from private and public sector partners, here are examples of what the EDB helped accomplish in 2024.

Business recruitment

The EDB works directly with businesses and consultants to provide key information and assistance to land primary employers throughout Pierce County. The EDB’s 2024 recruitment activity confirms that the region is increasingly recognized as a top choice for businesses looking to establish operations.

• A total of 21 new projects were opened, including 12 manufacturers that are actively seeking new sites in Pierce County for production. Remaining projects are focused on the technology, cold storage, distribution and medium to heavy-duty EV charging sectors.
• The EDB is having ongoing discussions with domestic and international clients interested in doing business in Pierce County. Within the last few months, the EDB attended the SelectUSA Investment Summit in Washington, D.C., and the Farnborough International Airshow in the UK. The EDB and other South Sound organizing partners hosted a full-day event in Pierce County as part of the SelectUSA Seattle Spinoff. The visit was a unique opportunity to introduce 28 international companies to the benefits and opportunities that make the South Sound one of the best places for business.

To learn more about the EDB’s business recruitment efforts, contact Sarah Bonds, EDB Vice President for Business Recruitment.

Business retention and expansion

The EDB’s BRE program directly engages local primary businesses – the backbone of the Tacoma-Pierce County economy – and assists companies that are expanding, looking to relocate, or are in a target industry.

Here are some BRE highlights for 2024:

• Virginia Mason Franciscan Health (VMFH) launches innovative health care programs. VMFH is expanding its Allied Health Program to meet the growing demand for health care professionals in Tacoma-Pierce County. To drive the program forward, the EDB facilitated and fostered collaboration and alignment between educational institutions and industry needs.
• Baker Manufacturing expands capabilities to achieve defense-ready Cybersecurity Maturity Model Certification. Tacoma-based Baker Manufacturing was awarded a $200,000 Evergreen Manufacturing Growth Grant through the Washington Department of Commerce. The EDB is involved in securing and administering this grant to ensure funds are utilized effectively to foster growth and innovation.
• Project Endurance: First biotech manufacturing plant in Pierce County. A Tacoma-based biotech firm is preparing for pharmaceutical drug manufacturing. The EDB has helped with permitting, grants, partner introductions, and additional resources.
• Sekisui Aerospace growth marks largest expansion for EDB’s BRE program. Investment in new technologies and production capabilities will result in 400 new jobs at Sekisui’s Renton and Sumner plants. The EDB collaborated with partners to deliver an expansion proposal and supported a workforce visit to Joint Base Lewis-McChord.
• Second Japan trade mission strengthens economic ties and opportunities. Building on the success of the 2023 mission, a second trade and investment mission to Japan took place in April 2024 to further strengthen ties with Japanese companies and explore new investment opportunities. The EDB-led mission focused on the aerospace, manufacturing and gaming sectors in Tokyo.

To learn more about the EDB’s business retention and expansion efforts, contact Maddie Merton, EDB Vice President for Business Retention and Expansion.

Cluster acceleration

When interconnected businesses cluster near each other, they can increase their productivity, accelerate innovation and stimulate new business formation. Here’s a recap of the EDB’s cluster acceleration work over the last year:

• The Entrepreneurship Cluster, which kicked off in 2023 and brought together more than 60 business support service organizations, continued its work to create a hub for entrepreneurs. Organizations are well informed to shepherd businesses through the network of available resources and identify opportunities for additional support.
• The Trade-Logistics Cluster Acceleration Team strengthened its partnerships with Career and Technical Education (CTE) directors across Pierce County to introduce logistic companies to students, nourishing the future talent pipeline in the industry.
• The Technology Cluster Acceleration Team once again partnered with the UW Tacoma School of Engineering and Technologyto present the 2024 South Sound Technology Conference, which focused on AI and Machine Learning. In the wake of these disruptive technologies and their impact on various sectors, the team’s chairs launched focus groups with industry leaders to map out goals for the next strategic plan.

To learn more about the EDB’s cluster acceleration efforts, contact Tamsin Bell, EDB Vice President of Business Development.

We’ll have more to share during the 2025 EDB Annual Meeting, Feb. 26., at the Greater Tacoma Convention Center. Reserve your spot today.