Maritime Economic Impact Study

Three Seattle and King County organizations have released an economic impact study on the effect of the maritime industry on the State of Washington. The Washington State Maritime Cluster Economic Impact Study sought to quantify the impact of the maritime industry in order to better understand and strengthen its contributions to the regional economy.

The study was commissioned by the Economic Development Council of Seattle and King County, the Puget Sound Regional Council and the Workforce Development Council of Seattle and King County, with input from a broad spectrum of maritime industrial businesses – including Philips Publishing Group. The study looks at the direct and indirect impacts the maritime industry has on the local and regional economy.

According to the study, Washington’s maritime cluster employed more than 57,700 people directly in the state last year, and was responsible for $15.2 billion in gross business income. Indirect and induced Maritime jobs account for another 90,000 jobs, for a total impact of 148,000 Washington jobs. The direct contribution of the industry's $15.2 billion in gross business income generates another $14.8 billion in induced and indirect output, for a total contribution effect of nearly $30 billion to Washington’s economy.

Below are some of the study’s other findings. The maritime industry paid nearly $4 billion in wages in 2012 with average salaries of $70,800. In comparison, the state’s median wage is $51,000.

Every direct job in the maritime industry supports 1.6 jobs elsewhere in the economy. And for every $1 million in sales, another 10 jobs are supported elsewhere in the economy.

Industry-wide, revenues have grown 6.4% per year on average with the largest growth rate in Maritime Logistics and Shipping, at a robust 10.2%.

Go to http://www.EDC-SeaKing.org/maritime-study to download the report.

Washington State Names 10 Finalists in Export-Boosting Fund Competition

The Washington State Community Economic Revitalization Board, or CERB, has selected 10 finalist projects that will compete for $3 million in loans and grants as part of Gov. Christine Gregoire's state export initiative.

Each of the finalists will receive a formal Request for Proposal from the new Export Assistance Program, a key component of the state export-boosting plan that seeks to meet President Barack Obama's call to double national export levels in five years.
All 10 finalists were selected from a field of 31 applicants by a review panel of CERB members and experts in the promotion of state exports. CERB is looking to boost programs that can achieve substantial, profitable results.

Completed RFP's are due by Aug. 23, 2010 and CERB is expected to make a final determination by September 2010.

The 10 projects selected to submit a full proposal for further consideration are:

City of Bellevue – $157,000 – Asia Target Markets Trade Development: Trade Promotion Strategy for China, Korea, and Japan using Search Engine Optimization and Social Media Platforms;

City of Bellevue – $70,000 – Insights on India: Educational Materials and Case Studies on Culture, Communications, Management and Negotiations related to Doing Business from Washington State with Companies in India;

Clark College/Association of Washington Business Institute – $840,750 – Exports Zone Resource Center/Green Building Material Manufacturing Pilot Program;

Highline Community College – $413,360 – T.R.A.D.E. Training-Ready to Advance Development of Exports: A Business Export Readiness Model;

Port of Clarkston – $100,000 – Snake River Boat Builders Export Program;

Tacoma Community College – $298,857 – Technical Assistance with Global Exporting: Creation of a Professional-Level Instructional Certificate Program in Global Exporting;

University of Washington – $1,560,000 – Building Export Competence in Washington State Businesses;

Washington State University/Small Business Development Centers – $1,291,097 – SBDC New-to-Export Initiative;

Western Washington University – $585,726 – Jump Start Washington Exports (JustWaEx);

World Trade Center Tacoma/Tacoma Community College – $248,000 – Export China Initiative.

tags: Washington state, exports

Gregoire Kicks Off Washington State Export Initiative

Washington state Gov. Christine Gregoire visited the Port of Seattle Tuesday to introduced her plans for a new state export initiative aimed at complimenting the Obama Administration's National Export Initiative intended to double domestic exports within five years.

“As one of the nation’s leading exporting states, Washington State has the ability to act as a testing ground as the United States Department of Commerce develops new programs to move the National Export Initiative forward,” Gregoire said. “Washington is the gateway to Asia, and those trading partners have not been hit as hard as other areas around the world. We need to continue to increase our efforts to reach out to those trading partners. When our companies have more opportunities to do business, they can expand and create more good jobs for our communities.”

The governor's five-year six-point plan includes:

• Working as partners with the U.S. Department of Commerce to identify new opportunities for Washington businesses, serving as a pilot state for “field testing” new programs and tools the federal government develops as a part of the National Export Initiative;
• Directing the Community Economic Revitalization Board (CERB) to dedicate $3 million in funding toward export counseling assistance to companies seeking to export for the first time;
• Implementing a “Farm-to-Market Initiative” to reward ambitious and achievable proposals to enhance the competitiveness of the state's agricultural enterprises in the global marketplace.
• Enhancing the state's standing as a destination for foreign students who invest in the Washington economy through tuition, lodging and entertainment and encourage Washington students to study abroad; and
• Strengthening and expanding relationships with overseas trading partners;
• Engaging with the federal government to ensure a fully-funded federal transportation re-authorization act that includes a national freight program aimed at infrastructure investments that enhance the state's ability to efficiently move goods.

Gov. Gregoire said she expects the state export initiative to increase the number of Washington state companies exporting by 30 percent over the next five years and help 5,000 Washington businesses achieve $600 million in new export sales.

“Increasing the export of American products and services to global markets can help revive the fortunes of U.S. companies, spur future economic growth and support jobs in the U.S.,” said U.S. Commerce Secretary Gary Locke. "I applaud Governor Gregoire and Washington State for partnering with us on the National Export Initiative, and look forward to working with the state."

With 8,000 Washington companies currently exporting, the state is the largest U.S. exporter on a per capita basis. Approximately four percent of Washington companies export, compared to a national average of one percent. One in three jobs in Washington state are tied to trade, either directly or indirectly.

“Taking the lead among all states with this early commitment to the National Export Initiative is good for Washington because it builds on our core strengths,” said Washington State Commerce Director Rogers Weed. “Expanding opportunities for our state’s current exporters will generate growth in the near term, while future sales and jobs will come from a new focus by the Small Business Development Centers and other key partners to find and help some of the 96 percent of other Washington companies reach international markets with their products and services.”