OED News

Economic impact study reveals the importance of manufacturing in Seattle

A new study commissioned by the Office of Economic Development and the Department of Planning and Development confirms the importance of manufacturing in the Seattle economy.

The Basic Industries Economic Impact Analysis addresses the economic impact of Seattle's Basic Industries, which include industrial and maritime businesses that lead exports from the region and serve the region with supplies and industrial service. These industries offer job growth potential; provide accessible, family wage jobs; fit with Seattle's comparative advantages; and contribute significantly to the City's tax base.

The study found that manufacturing jobs in Seattle grew by 10 percent from 2005 to 2008, adding nearly 8,300 positions, while the nation lost nearly 5 percent of its manufacturing jobs during the same time period. According to the study, industrial businesses make up almost one fifth (18 percent) of Seattle's total job base and are critical in maintaining a balanced local and regional economy.

Click here to download the full study.

August 7, 2009

Mayor kicks Kicks Off 2009 Summer Jobs Program

Mayor Greg Nickels announced today that funds from the Seattle Youth Violence Prevention Initiative will help the city put 650 young people to work this summer, engaging them in positive and productive jobs. This summer’s employment program will significantly increase the number of participating youth, up from 492 last summer.

“One of the best ways to reduce youth violence is to show our young people new opportunities and a bright future. The city’s summer jobs program will give hundreds of young people new skills and help put them on the right path,” said Nickels.

Click here to view the full press release.

June 24, 2009

Seattle Ranked North America's #2 High-tech Center

In a new report by the Milken Institute, Seattle is ranked as North America's second most innovative and economically vibrant high-tech center. The study noted that cities with strong high-tech bases will perform best as the economy recovers because the jobs generated by these fields pay so well. The report is an update to the Institute’s 1999 publication, America's High-Tech Economy: Growth, Development and Risks for Metropolitan Areas, a groundbreaking study that was one of the first to show the importance of high-tech industry to regional economic growth.

Click here to go to the Milken Institute's website and download the entire report.

June 2, 2009

Mayor Announces Awards to Help 22 Neighborhood Business Districts City investments in Seattle neighborhoods help small businesses

Today Mayor Greg Nickels presented funding awards totaling $128,384 to 22 Neighborhood Business District Associations throughout Seattle to continue the city’s investments in building healthy communities and supporting our local economy.

Click here to read the full press release.

May 21, 2009

Seattle Tops National Magazine's List of Cities

Seattle has been named City of the Year on Fast Company’s 2009 ranking of “Fast Cities.” Editors cited Seattle’s “smarts, foresight, social consciousness, and creative ferment” as the ingredients that made it tops this year - “ingredients that we believe will bring our communities - and country - back to prosperity.”

Twelve other U.S. and international cities were cited on Fast Company’s honor roll for exemplary initiatives that are improving neighborhoods, transforming lives, and helping build better, faster cities for the future. The complete ranking of “Fast Cities 2009” appears in the May issue of Fast Company and online at www.fastcompany.com.

Click here for the full press release from Mayor Nickels.

April 21, 2009

Seattle Ranked #3 Best Metro to Start Small Business

According to a February 2009 bizjournals.com (parent company of Puget Sound Business Journal) study, Seattle ranks third in small business vitality, putting it just behind Raleigh and Charlotte, NC and just ahead of Austin and Boise. The highest scores in bizjournals' study went to areas that have prosperous economies, are expanding rapidly, and are densely packed with small businesses. The accompanying story noted “Seattle enjoys a strong concentration of small businesses, 29.44 for every 1,000 residents. That’s 20 percent better than the average for America’s 100 largest markets (24.57 per 1,000), a nice cushion against tough times ahead.”

Click here to read the entire article.

February 2, 2009

Mayor highlights McKinstry expansion; 500 new jobs expected

Mayor Greg Nickels presented McKinstry Company with a permit and approved plans for an expansion of its Georgetown facility in south Seattle. The company expects to hire an additional 500 people, a combination of professional and union craftsman, in the next two to three years. McKinstry is a construction and engineering firm, specializing in energy efficiency.
Click here to read the press release.

January 29, 2009

Seattle Rankings

• Seattle is the No. 1 post-recession mecca for young skilled workers.
  The Wall Street Journal, October 2009
• Seattle ranks No. 2 in Outside Magazine's 2009 list of best cities.
  Outside Magazine, August 2009
• Seattle is the No. 1 city for environmental stewardship and sustainability.
  National Resources Defense Council, July 2009
• Seattle is the nation's No. 2 high-tech center.
  Milken Institute, June 2009
• Seattle is the most secure place to live in the United States.
  Farmers Insurance, May 2009
• Seattle was named Fast Company's 2009 City of the Year based on its high rate of
  creativity and innovation.
  Fast Company, April 2009
• The Seattle metropolitan area is home to eight Fortune 500 companies.
  Fortune Magazine, April 2009
• Seattle forecasted as the best overall 2009 real estate marketplace and ranks #1 for Commercial/Multifamily Investment.
  The Urban Land Institute and PricewaterhouseCoopers, October 2008
• Seattle was the top office market in the country for 2008.
  Marcus & Millichap, October 2008
• Seattle continues to have the most LEED-certified buildings in the nation.
  U.S. Green Building Council, April 2008
• Washington state was named the best state to start a business.
  U.S. News & World Report, January 2009

Economic & Demographic Data

For more information about Seattle demographic databases, visit OED's Economic and Demographic Data page or Site Selection Assistance page.