Green Economy
The green economy is not a single sector alongside manufacturing, software, or construction. Rather, the green economy mitigates and adapts to the effects of climate change. It represents a profound shift in how entire industries operate. This includes deploying clean energy and storage, decarbonizing heavy industry, and creating new technologies.
This shift is “the largest capital reallocation in history” and a once-in-a generation opportunity for high-wage careers and wealth generation for Seattle residents.
Why do business in Seattle?
Seattle's workforce offers abundant capacity for designing and manufacturing products, mixing academic and industrial innovation. In addition to talent, our city also provides protected industrial lands with easy access to commercial rail and an international Port downtown.
Combined with an ambitious climate policy and clean energy commitments from the City, County, and State, Seattle is an ideal place for businesses and entrepreneurs to invent, commercialize, and export clean energy technologies.
Driving green economy growth
As part of Seattle and Washington State's committment to a green economy, there are several grant and tax incentive programs available to support green production and job growth:
Our Work
The Office of Economic Development's new Green Economy Vision & Asset Analysis lays out a plan to fulfill Seattle’s potential to be a global hub for clean energy technology industries.
To drive this change, we have:
- Partnered with the University of Washington’s CoMotion Labs to create the Seattle Climate Innovation Hub in downtown Seattle. Its goal is to attract and grow nascent clean energy technology companies and connect them with R&D resources within the UW Clean Energy Institute.
- Led the creation of a state-wide green bank to catalyze clean energy deployment.
- Led the creation of the first every citywide green jobs strategy.
Green Economy Partners and Resources
$249B private investments in clean economy 2021-2023
Capital investment in decarbonization and clean-tech is estimated to grow to its peak in the next 10 years.
1.5 mil Estimated jobs created in the next 10 years
The IRA has generated 171,000 new "green" jobs since 2022. It's estimated that clean energy tax credits will create nearly 10 times as many jobs over the next decade.