Regional Incentives for Burien’s Businesses
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Some of our King County cities are able to waive their local Business & Occupation tax on a case-by-case basis, and some provide expedited permitting and infrastructure investment.
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When access roads and rail lines, sewer and water extensions, or some other public improvement is needed to spur private sector investments in King County, the revolving loan and grant program of the Community Economic Revitalization Board may be utilized. CERB monies are awarded to...
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Community Empowerment Zones have been established in parts of Seattle and in White Center in King County. Firms locating in a Community Empowerment Zone, or in a county containing a Community Empowerment Zone, may qualify for the Distressed Area Sales and Use Tax Deferral/Exemption Program...
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Washington employers can access over thirty state and federal programs to assist in accessing labor market information, recruiting new employees and designing customized training.
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Foreign-Trade Zones (FTZs) are designated secured sites physically located inside the borders of the United States, but considered outside of U.S. Customs territory. The Port of Seattle’s Foreign Trade Zone #5 encompasses all of King County. A company can apply to designate part or all...
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Ten public corporations in King County plus the Washington Economic Development Finance Authority issue tax-exempt Industrial Revenue Bonds (IRBs) on behalf of private companies. The key advantage to this type of financing is that interest payments to IRB buyers are not subject to federal income...
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The Life Sciences Discovery Fund (SLDF) was established in 2005 by the Governor and Washington’s Legislature to foster growth of the state’s life sciences sector and improve the health and economic wellbeing of its residents. LSDF invests monies from the Master Tobacco Settlement Agreement in...
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Deferral Pursuant to RCW 82.76.030, the State will defer or waive sales and use taxes on investments in construction or renovation of structures or machinery used for biotechnology manufacturing. Application must be made and approved prior to starting construction. This deferral is scheduled to expire...
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Pursuant to RCW 82.08.02565, manufacturing equipment (and associated research/lab equipment) purchased for a company’s new manufacturing facility is exempt from sales and use tax in Washington.
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The Governor’s Strategic Reserve Fund is a discretionary tool for the purpose of creating and retaining jobs in the state. The funds can be used for workforce development, technical or planning assistance, environmental analysis, or relocation assistance.
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The State’s Commute Trip Reduction program allows for up to $200,000 in savings for corporations that provide commute trip reduction incentives, such as a subsidized bus pass, to their employees. Companies are eligible for 50% of the benefit cost, up to a maximum of $60...
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The Seattle area has recently seen the arrival of several high-profile venture capital and investment banking firms, as well as the rise of large, local venture capital funds. Venture capital firms put more than $929 million into Washington start-up companies in 2012.
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The Washington Economic Development Finance Authority (WEDFA) is a public corporation of the state authorized to issue nonrecourse tax-exempt and taxable economic development revenue bonds. The Tax-Exempt Manufacturing and Processing Equipment Financing Program (TEMPE) allows bond interest to be exempt from federal income tax. This...
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