Job Growth

Sources: Quarterly Census of Employment of Wages, Puget Sound Regional Council; Current Employment Statistics, Bureau of Labor Statistics (March 2012); Local Area Unemployment Statistics, Bureau of Labor Statistics, Not Seasonally Adjusted (March 2012)

Key Findings

In 2011, businesses generated $53.8 billion in taxable revenues. Citywide taxable business income increased by 2.9% between 2010 and 2011 (Ex. 1-1).

Seattle-based businesses generated $53.8 billion in taxable income in 2011, 82% of all business income reported in Seattle. Businesses based outside of Seattle reported $10.6 billion in income earned from activity and transactions within Seattle. Out-of-town businesses account for approximately 20% of revenues reported in the City.

Total business income generated by tax-paying businesses increased by 3.3% in the same period. Sectors with projected 2011 revenue growth include all sectors except FIRE (finance, insurance and real estate).

Notes:

• 2011 data has been revised to reflect new estimates. Quarterly data is controlled to annual taxable income estimates provided by Seattle Department of Finance and Administrative Services.
• 2010 and 2011 data updated to reflect most recent estimates. 2012 Small Business Taxable Income reflects only data collected to date.