Reinventing Washington

Senate Democrats focus on the future of our economy

Senate Democrats recognize Washington’s future depends on a healthy economy – and that means economic development.

To help businesses thrive, we’ve set about reinventing Washington’s future by focusing on three key assumptions:

1. creative thinking and knowledge-based industries are essential to economic growth;
2. new products and improved processes in existing industries are critical; and
3. cooperation between the public and private sectors to achieve common objectives must occur.

Senate Democrats have put in place programs to develop an educated and skilled work force and to link education to training for high-wage jobs, foster creative outside-the-box thinking, and focused on expanding Washington’s global reach to help our businesses succeed locally, nationally and internationally in the global marketplace.

Our many successes in the 2007 legislative session include:

• Economic Development Commission. We will staff an Economic Development Commission and direct it to provide a uniform strategy for the entire state, including establishing performance measures and analyzing existing economic development programs for efficiency. (Senate Bill 5995)
• Microenterprise development. We are creating one of the best microenterprise programs in the nation, to help small start-up companies of one to five employees by providing them training and technical assistance. (SB 5652, 5653, 5613)
• Innovation Partnership Zones. Washington will join a few select states that identify geographic areas of innovation where researchers, training facilities and companies work together to develop the products that will drive the economy of the future. These zones require local support and training and research capacity, and will be used to facilitate the commercialization of cutting-edge research. (House Bill 1091)
• Recruiting academic stars. In the same way colleges recruit the best athletes, Washington will recruit the best intellects from around the world to our universities. We will develop this proven strategy, used by other innovative regions of the world, to turn our universities into economic engines. (HB 1091)
• Associate Development Organizations. This bill recognizes the importance of the state partnering with local economic development councils, or Associate Development Organizations (ADOs). The increased state funds will enhance local efforts and better prepare the state for global competition. (SB 5092)
• Local Infrastructure Financing Tool. The Local Infrastructure Financing Tools (LIFT) program helps local governments finance the public infrastructure necessary to support economic growth. This bill increases the state contribution to $7.5 million from $5 million and adds much needed flexibility to empower more local governments as they develop local economies. (HB 1277)
• Tourism commission. We are replacing the Washington Tourism Development Advisory Committee with a Washington Tourism Commission that will take advantage of our geographic location and proximity to the 2010 Winter Olympics in British Columbia. Its members will be charged with developing a six-year strategic plan and tracking the state’s return on investment in tourism. (HB 1276)

Programs like these will help develop an educated and skilled work force and link education to training for high-wage jobs. By encouraging economic development, we’ll be able to ensure the revenues necessary to provide Washington citizens with the schools, roads and services they deserve.