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602 - Create and Sustain Businesses, Jobs and the Economic Vitality of Washington
Situation: Washington is dependent upon the global economy as indicated by its ranking among the top five states in total exports, shipping products worth $35 billion to offshore buyers annually. As a result of this export dependence, Washington’s industries must produce products that are both price and quality competitive in a global marketplace. This requires continual technological advancement and a highly skilled workforce. Additionally, Washington’s economy is highly dependent upon small firms. Fully 98% of all companies have fewer than 500 employees, and these small firms provide over 60% of all jobs in the state. It is necessary to maintain a nurturing environment to support creation, expansion, and retention of the small businesses that drive the economic growth of the state.
Sub-Goals:
2.1 Create living wage jobs through retention and expansion of existing businesses, supporting local entrepreneurs, facilitating the use of digital technologies, and educating the workforce of today and tomorrow.
2.2 Facilitate development and transfer of technologies developed at WSU resulting in new businesses, jobs, and tax revenues.
2.3 Support development of environmentally sustainable businesses.
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