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City of Seattle

Business Income

Exhibit 1.1

Exhibit 1.2Exhibit 1.3

Source: City of Seattle Department of Finance and Administrative Services (March 2012)

Key Findings

In 2012, businesses generated $58.3 billion in taxable revenues. Citywide taxable business income increased by 9% between 2011 and 2012 (Ex. 1-1).

Seattle businesses generated $46.1 billion in taxable income in 2012, 79% of all business income reported in Seattle. Businesses based outside of Seattle reported $12.2 billion in income earned from activity and transactions within Seattle, representing a 33.4% increase over 2011 (Ex. 1-2).

Sectors with the largest 2012 revenue growth were construction and resources (20.6%), retail (15.9%), and professional services (10.0%). Wholesale, transportation, and utilities (WTU) revenues declined 5.4% year-over-year in 2012 (Ex. 1-3).

Definitions:
Cons/Res is construction and resources. WTU is wholesale, transportation and utilities. FIRE is finance, insurance and real estate. Professional services includes information and professional and business services. Personal Services includes health care, private education, leisure and hospitality and other services.

Notes:

  • (1) 2011 and 2012 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.

  • (2) 2011 and 2012 data updated to reflect most recent estimates. 2012 Small Business Taxable Income reflects only data collected to date.