In a recent Tacoma resident survey, nearly half of the respondents said the City should do more to support small and growing businesses.
Tacoma is a Competitive Environment for Biological Innovation
Due to its proximity to the medical center at Joint Base Lewis-McChord and home to two leading private medical providers, Tacoma is a competitive environment for biological innovation. The Wedge is a biotechnology health accelerator that will provide innovators and expert practitioners access to these largest providers in the South Puget Sound to speed the commercialization of new products 50 percent sooner than elsewhere. Tacoma seeks federal investment to support the Wedge in launching these new companies that will serve the military and medical sectors.
Nearly Twenty Percent of Business Owners in the Puget Sound Area are Foreign-Born
Fifteen percent of Washington business owners are immigrants. In the Puget Sound metropolitan area, the foreign-born share of business owners is nearly 20%. It is a priority of the City to make Tacoma a “Welcoming City” and to cultivate an immigrant-friendly environment. The City joins the United States Conference of Mayors and the National League of Cities in calling on the federal government to enact comprehensive immigration reform.
Tacoma has Adopted an Action Plan to Position Art as an Economic Driver
The nonprofit arts and culture sector is a $64.72 million industry in Tacoma. The U.S. Bureau of Economic Analysis calculates the sector’s contributions to U.S. GDP at 4.2% or $704 billion. The City joins the United States Conference of Mayors in urging the federal government to invest in nonprofit arts organizations as a catalyst to generate economic impact and to improve the overall quality of life in America’s cities.
Voters Approved Measure to Increase the Minimum Wage
By more than 70%, Tacoma voters approved a measure to increase the minimum hourly wage to $12.00 beginning January 2018. Tacoma joins a growing number of cities who are choosing to raise hourly wages above present State and Federal rates.