Business development

How is King County doing?

The number of businesses in a region is an indicator of a healthy economy. The steady increase in the total number of businesses in King County between 1980 and 2007 reflects a business climate which supports business formation, expansion and retention. Employment has also grown in the region, after a decline between 2000 and 2003. Over the past decade, nonagricultural employment has shifted slightly, with an increase in the services-provision sector and a corresponding decrease in the goods-producing sector.

In order to improve the strength and diversity of the county's economy, "basic" jobs and businesses must increase. Basic industries export products and services outside King County and bring income into the county. Jobs in basic industries generally pay better than non-basic jobs and support the non-basic sector of the county's economy, such as retail and personal services. In 2007, 37 percent of King County jobs were in basic industries. The county's leading export sectors are information services (e.g., Software Publishing); manufacturing (e.g., aerospace); and business services (e.g., banking, insurance, engineering, research and development, and computer services).

What else influences these indicators?

Many factors contribute to a vibrant and sustainable economy, including a favorable business climate, a trained workforce, adequate public infrastructure, land supply, predictable regulations, advancing technology, affordable housing, available capital, and a healthy natural environment.

What role does King County government play?

King County government supports business development through implementation of the comprehensive plan and significant investment in infrastructure. The Office of Business Relations and Economic Development (BRED) works on numerous projects with public and private partners to support a diverse economic base and expand businesses and jobs. For example, King County is a key player in the "Regional Economic Strategy for the Central Puget Sound Region" developed by the Prosperity Partnership. The Partnerships goals are to enhance long-term economic prosperity and to create 100,000 jobs in key sectors with the most potential for growth and export opportunities.

To support and enhance the regional economy, BRED offers limited business finance promotion programs and has targeted specific business centers for revitalization.