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News from Seattle's Office of Economic Development

Economy strengthens behind building, manufacturing

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Economy strengthens behind building, manufacturing
Seattle Times
The economic recovery gained strength on the biggest rise in construction spending in nearly a decade and the 10th straight month of expansion for the manufacturing sector.

UW report: Small businesses anticipate hiring again soon
UW Foster School of Business
Although 2010 will continue to be difficult for small Washington businesses, a new UW report reveals that 20% of Caucasian-owned businesses and 36% of minority-owned businesses anticipate hiring new employees in the next three months.

Webinar examines grocery access in underserved markets – July 8th & 9th
Buxton Company
Shortages in supermarkets or ‘food deserts’ are quickly becoming one of the largest problems city leaders face. The migration of supermarkets to the suburbs have left city’s urban cores underserved or with very limited grocery opportunities. 

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.

IRS enhances health insurance tax credit for small businesses

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IRS enhances health insurance tax credit for small businesses
Atlanta Business Chronicle
The Internal Revenue Service has given small businesses additional breaks in its guidance on the new health insurance tax credit. Beginning this year, businesses with fewer than 25 full-time-equivalent employees who make less than $50,000 a year, on average, are eligible for the tax credit.

Developers, restaurateurs find recipe for success 
Daily Journal of Commerce
Across the U.S., restaurant trend forecasters are predicting an increase in casual dining restaurants, with a comfy atmosphere, high-value menu items and fun gourmet twists. Restaurateurs can boost struggling communities by filling vacant commercial space and attracting other tenants. 

Grocers react to proposed measure to open up liquor sales
Seattle Times
Whereas large grocers support the measure to open liquor sales and downsize the state liquor board, small grocers largely oppose Initiative 1100, saying it would be difficult for them to compete against big chains offering low liquor prices.

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.

SIFF opening highlights Seattle as a true “City of Film”

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SIFF opening highlights Seattle as a true “City of Film” 
Seattle Channel
The Seattle Channel captures members of the local and national film community, and Seattle Mayor Mike McGinn, on the red carpet at the opening night of the Seattle International Film Festival.

Improving quality of life through neighborhood grocery stores 
Wall Street Journal
Access to the fresh produce and other foods sold in grocery stores is likely one slice of a multi-part solution to obesity – but it’s a lot more complicated than geographic proximity.

Consumer confidence rises in May 
Seattle Times
Americans’ confidence in the economy rose in May for the third straight month, fueled by growing optimism about future job prospects. 

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.

Seattle moves up to become U.S.’s No. 4 city in fitness

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Seattle moves up to become U.S.’s No. 4 city in fitness 
Puget Sound Business Journal
Seattle moved up to become No. 4 in fitness among America’s most populous metropolitan areas, according to the American College of Sports Medicine’s American Fitness Index.

City website shows how federal stimulus dollars benefit Seattle 
City of Seattle
Recovery.Seattle.Gov shows how the city is using money from the American Recovery and Reinvestment Act (ARRA) in seven investment areas: economic development, community development, social services, public safety, environment, energy, and transportation.

As wind power booms, so do the challenges 
Seattle Times
The revolution happening along the Columbia River is full of promise. But wind power is fickle, and keeping our energy system running smoothly has become “the great economic and engineering challenge of our time.”

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.

Mayor welcomes Facebook to Seattle

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This Tuesday, Seattle’s Office of Economic Development, together with the office of Mayor Mike McGinn, welcomed Facebook’s senior engineering team to Seattle in a private reception at City Hall alongside numerous local business and technology leaders.  Facebook announced last month that they would opening an engineering office in Seattle and will be hiring approximately 30 staff in the coming year.  The company’s decision to expand here – the company’s first office outside its headquarters in Palo Alto, CA – underscores Seattle’s wealth of technical talent and engineering expertise.

The welcome reception was attended by Mayor Mike McGinn; City Councilmembers Mike O’Brien, Nick Licata, and Sally Clark; representatives from the city’s Office of Economic Development and Office of Film + Music; Greater Seattle Chamber of Commerce; enterpriseSeattle; the University of Washington; Seattle Sports Commission; Alaska Airlines; Fuzed Music; Amazon.com; and many more.

Read about Tuesday’s event in these articles:

The Seattle Times: “Facebook’s move to Seattle: The backstory” *

TechFlash: “Video: Seattle Mayor Mike McGinn welcomes Facebook”

Seattle P-I: “Why we’re rolling out the red carpet for Facebook”

The Prosperity Blog: “Economic Development:  A Love Story”*

*This story was featured in our Daily Digest.  Find out more about the Daily Digest and subscribe to receive the daily business newsletter here.

Washington state unemployment rate drops

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Washington state unemployment rate drops
Puget Sound Business Journal
Washington’s unemployment rate in April improved to 9.2 percent in April, the first time the state has seen a decline in three years. The Bellevue-Seattle-Everett’s unemployment rate in April was 7.9 percent, down from March’s jobless rate of 8.6 percent.

Broadway, Pike/Pine eligible for city’s $40 million tax credit program 
Capitol Hill Seattle Blog
Thanks to new federal economic initiatives, Capitol Hill businesses and others across Seattle can now apply for millions of dollars in project investment through the New Market Tax Credits (NMTC) program. The Office of Economic Development, which led the city’s application for the credits, will manage the investment of NMTCs through a city-created entity, the Seattle Investment Fund LLC.

Study: Tech Sector is a jobs engine for Washington state 
TechFlash
Nearly half of all jobs in Washington state are tied to the technology industry, according to a new study released today by the Technology Alliance at the group’s annual luncheon.

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.

Retailers prepare for consumer comeback

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Retailers prepare for consumer comeback
Seattle Times
Shoppers have started to show they’re willing and able to spend more, and stores are tweaking their merchandise to accommodate them.

Economic plan aims at bringing new industry cluster opportunities to King County  
enterpriseSeattle
For the past five years, enterpriseSeattle, a public-private economic development partnership for King County and the 39 cities, has focused its attention on five top “industry clusters” where this region exceeds the national average in terms of job concentration.

Event season has arrived in Seattle  
Xconomy
Upcoming events like Seattle 2.0, Twiistup, and the State of Technology Luncheon will attract start-up companies, tech investors and entrepreneurs, and business advocates from all over the Pacific Northwest.

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.

Retail sales, industrial output exceed forecasts

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U.S. Economy: Retail sales, industrial output exceed forecasts
BusinessWeek
Retail sales and industrial production in the U.S. climbed more than forecast in April, indicating the economic recovery gained momentum at the start of the second quarter.

Washington moves up on CEO list of best states for business 
Puget Sound Business Journal
Washington moved up 10 spots on a list of CEOs’ best states to do business – the biggest gain of any state – but only jumped to number 30 on the list.

Look into the first quarter of 2010 results and trends for the economy and small business 
Small Business Administration
Real gross domestic product increased at an annualized 3.2 percent in the first quarter of 2010, its third quarter of positive growth and a sign of continued economic recovery. Overall output was buoyed by higher expenditures across the board, as consumers and businesses began to spend again. 

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.

U.S., Seattle port traffic increasing

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U.S., Seattle port traffic increasing 
Puget Sound Business Journal
Cargo volumes at ports across the U.S., including the Port of Seattle, are rising compared with last year and are expected to continue to rise.

Mantra for Seattle summer: ‘Tourism Matters’ 
KOMO News
Tuesday was the official launch of the tourist season in Seattle, and the city’s tourism industry is fighting for a comeback. The launch was marked with a flag atop the Space Needle that read “Tourism matters.”

‘Walk & Talk’ with Councilmember Sally Bagshaw – May 18th
Feet First
Join the quarterly Feet First Walk & Talk with Seattle City Councilmember Sally Bagshaw this May 18th and learn about public space plans for a redeveloped waterfront.

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.

Study: Seattle has nation’s best economy

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Study: Seattle has nation’s best economy 
Puget Sound Business Journal
A study by Florida research firm Policom says that the Seattle-Tacoma economy is the strongest in the country, beating out 366 other metropolitan areas. According to Policom, the highest-ranked areas have had rapid, consistent growth in both size and quality for an extended period of time.

City Council designates ten new Seattle landmarks 
Puget Sound Business Journal
Ten architectural sites in Seattle have been designated “landmarks” by the Seattle City Council. Since 1973, Seattle has designated more than 400 sites, buildings, vehicles, vessels and street clocks as landmarks subject to protection by city ordinance.

May 2010 Economic and Revenue Update now available 
Washington State Economic and Revenue Forecast Council
According to the May 2010 Economic and Revenue Update, the economic recovery appears to be gathering momentum, although the financial sector remains jittery. The April jobs report was encouraging, showing 290,000 net new jobs created that month.

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As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a new trial feature on Bottom Line, we’re posting a handful of stories from the Daily Digest every day.  Find the stories informative or helpful? Keep checking Bottom Line or sign up for Daily Digest to receive the full version in your inbox every day. Subscribe to the Daily Digest here.