Following is a brief review of these services. For more information on the Department of Commerce’s economic development programs, services and business consultants, visit ChooseWashington.com.
Businesses that need to perform due diligence on prospective sites in Washington State can call the Business Services Division’s team to discuss their search requirements. We can guide you through the process, respond to RFIs and RFPs, serve as a liaison between your company and other government agencies, streamline the site selection and permitting process and assist with infrastructure projects. We can also help you get the data you need related to utilities as well as utility incentive programs that can lower your energy costs even more. There are a variety of other incentives available to businesses to encourage you to expand, grow or locate facilities in Washington State. Our team will be happy to explain the various incentive programs that are offered to your industry or line of business, which may include B&O tax savings, energy efficiency rebates or tax breaks for investments in equipment, new technologies or energy sources.
Washington is a great place to invest in and the state makes it easy for foreign entities to do businesses here. Companies are drawn to the state by our sustainable, renewable and low-cost energy, skilled workforce and opportunities to collaborate and partner with some of the most innovative companies in the world. Washington is home to a substantial number of multi-national firms, including BMW/SGL, Fuji Film, Philips, Nintendo, Novo Nordisk, REC Silicon, Safran, Saint Gobain, SEH, Taiwan Semiconductor, and Zodiac – to name just a few. The Business Services team is available to help overseas investors navigate the state’s resources and potential locations to site a facility or to help an investor identify foreign investment opportunities in existing Washington businesses. Additionally, we work with EB-5 regional centers that offer foreign investors a pathway to citizenship. The state has 13 regional investment centers that can help you apply for this federal program and assist you in meeting its requirements. The Department of Commerce has representatives in several overseas markets that can assist you with investment opportunities in Washington State.
Got a question about foreign direct investment in Washington? Contact one of our business investment experts at (206) 256-6100 for more information.
With exports totaling more than $81.9 billion, Washington State is one of the country’s major hubs for international trade. The state is equidistant to key Asian and European markets and is well connected to markets in North, Central and South America via 75 ports, 139 airports and extensive rail and highway transportation networks. To assist businesses in engaging in trade, the Department of Commerce’s Business Services Division offers a team of international trade experts who provide advocacy, consulting, risk mitigation, market research, business matchmaking and custom programs, all designed to help you open doors overseas and attract new business. The team also manages international trade missions, many of them led by the state’s governor as well as trade shows focused on key sectors. For businesses interested in the China market, we offer a China Accelerator Program that allows you to expand into China without a major financial investment.
Having ready access to capital is essential for business success these days. The Business Services Division can connect you to an array of finance programs designed to provide your business with financial assistance. This includes grants to local and regional municipalities to improve infrastructure through the Community Economic Revitalization Board (CERB), float loans, small business loans through the Small Business Credit Initiative (SBCI), industrial revenue bonds for manufacturing and processing facility construction or expansion, and Brownfields loans to build on properties that require cleanup and reclamation due to contamination.
Growth and Expansion
Washington State’s small businesses and entrepreneurs are the economic engines that drive the state’s economy. If your business is in a growth and expansion mode the economic development experts at the Department of Commerce are at the ready to assist you. Our team works closely with you to identify opportunities to fuel business growth, ensure that your workers have the training they need, connect you to potential business partners and coordinate state resources to expedite your expansion so you can quickly meet the needs of your customers and the marketplace.
Want to take your business to the next level? We’re here to help. Contact one of our Business Services Division experts in the Department of Commerce, visit ChooseWashington.com or call (206) 256-6100.