Bottom Line Blog Office of Economic Development

Bottom Line

News from Seattle's Office of Economic Development

Vice President Biden releases report on 100 Recovery Act projects, Seattle projects showcased

by

Vice President Biden releases report on 100 Recovery Act projects, Seattle projects showcased
The White House
The report praised the Mercer Corridor project (#43) and Pike Place Market Phase II (#99) as two outstanding Recovery Act projects. Pike Place Market Phase II received an investment of approximately $40 million in Recovery Act and non-Recovery Act related New Markets Tax Credits. The Office of Economic Development led the City’s effort to invest $10 million (non-Recovery Act) of the $40 million in New Markets Tax Credits to the project. This investment will finance renovation costs and will provide tenant improvement assistance to over 60 businesses and 250 jobs that will be impacted by the Market’s major infrastructure project in Phase II.

Report: The impact of regulatory costs on small firms 
Small Business Administration
Regulations are needed to provide the rules and structure for societies to properly function. This research, while mindful of this important fact, focuses on the costs imposed by federal regulations; it thus updates and verifies the finding of disproportionality in the burden imposed by federal regulations on small business.

State economy shows signs of a comeback 
Seattle Times
Washington ranked 13th among the states and outpaced the national average in growth in personal income during the second quarter, according to data released Monday by the federal Bureau of Economic Analysis. The state index of leading economic indicators in July was up 5.7 percent over the year, according to the state Economic and Revenue Forecast Council.

________________________________________________________________________

As a service to the Seattle business community, the Office of Economic Development curates a daily business news blast, Daily Digest. As a 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.