Take action to support critical legislation
Now is the time to make your voice heard in Olympia, for the benefit of Pierce County and beyond. The EDB is asking for your support on two important pieces of legislation.
Tax Increment Financing (SB5211/HB1189)
Tax Increment Financing (TIF) is an economic development tool that captures a property’s appreciated value by using its increased property taxes to finance infrastructure improvements that benefit a designated area. Local jurisdictions that have used TIF report improved public infrastructure, increased economic activity and local job growth. This legislation provides a new method for cities, counties and ports to finance infrastructure improvement projects within their communities. It’s been a long time coming. Washington is one of only two states that don’t offer TIF. To contact your legislator to show your support, use the fast and easy Phone2Action email link. Questions about TIF? The Washington Economic Development Association (WEDA) has some great resources.
Data Center Tax Break (SB5414/HB1473)
A statewide data center sales-and-use tax incentive will help restore Washington’s competitive position for important technology investments. The state’s current law offers limited incentives, and Washington is also the only state that restricts incentives geographically. The EDB co-funded an economic analysis earlier this year that determined extending the incentive statewide will generate new revenues from sales tax on nonexempt portions of a data center project, increased property taxes, utility taxes and related economic activity. Data centers, like the 86-acre South Hill Centeris data hub (owned and operated by The Benaroya Company), provide critical infrastructure to support broadband communications, cloud computing, smart cities technology and other elements of Washington’s vibrant digital economy. The centers provide clean jobs, enable other forms of economic activity and impose very little impact on public services.
While the 2021 Washington State legislative sessions is mostly remote due to COVID-19 restrictions, it’s easier than ever to participate in the process. Learn more about accessing the legislature remotely, including tracking legislation, contacting legislators and commenting or testifying on a bill.