Report: Black, Indigenous, and people of color (BIPOC) would need to buy more than 140,000 houses to achieve parity with white homeownership in Washington state

Report: Black, Indigenous, and people of color (BIPOC) would need to buy more than 140,000 houses to achieve parity with white homeownership in Washington state

Homeownership Disparities Work Group releases findings, strong recommendations for Washington State Legislature, government leaders at all levels OLYMPIA, WA — A new Washington state report highlights the stark reality that Black, Indigenous, and people of color (BIPOC) would need to buy more than 140,000 houses in the state to achieve parity with white homeownership on a percentage basis.  The housing gap is even more significant today than in the 1960s,…

National Development Council, Commerce receive award for Small Business loan program

National Development Council, Commerce receive award for Small Business loan program

National Development Council and Commerce receive award for Washington Small Business FlexFund loan program SEATTLE, Washington — The International Economic Development Council (IEDC) has recognized Washington’s Small Business Flex Fund with an industry award for its positive contributions to the state’s economic recovery. Earlier this week at the IEDC’s Excellence in Economic Development Awards, the National Development Council (NDC) and the Washington State Department of Commerce shared a Gold Award…

Commerce invests additional $26.6 million to strengthen affordable housing development

Commerce invests additional $26.6 million to strengthen affordable housing development

As construction costs rise, Housing Trust Fund investments help keep multifamily projects moving forward OLYMPIA, WA — The Washington State Department of Commerce today announced it would supplement 22 multifamily affordable housing projects with an additional $26.6 million from the state Housing Trust fund. This additional funding will bridge the gap created by steep increases in construction costs and help support developers in maintaining a needed pipeline of affordable housing…

Nordic mission Day 4: Maritime innovation takes center stage

Nordic mission Day 4: Maritime innovation takes center stage

Exploring the fascinating future of maritime with our Norwegian partners We were welcomed to Norway with a briefing from the US Embassy and American Chamber of Commerce in Oslo. After being properly equipped with local knowledge, we traveled to Horten, to spend the day with Kongsberg Maritime. The Norwegian-owned company is a strong maritime partner and investor in Washington state, both through Kongsberg Underwater Technology located in Lynnwood, WA and…

Update from the Nordics: Celebrating collaboration with Finland

Update from the Nordics: Celebrating collaboration with Finland

Exploring clean fuels, quantum computing, the future of maritime and celebrating collaboration with Finland The past couple of days have been extremely exciting and productive, including a visit to Neste World Headquarters in Espoo, Finland. Originally an oil and gas company, Neste is now the leading supplier of renewable diesel and sustainable aviation fuel to the U.S. as well as a supplier of renewable diesel and recycled and renewable plastics.…

Washington Community Economic Revitalization Board invests $4.4 million in five counties

Washington Community Economic Revitalization Board invests $4.4 million in five counties

Washington Commerce Director Lisa Brown recently appointed former Palouse Mayor Michael Echanove as the new chair of the Community Economic Revitalization Board (CERB). In addition to serving as mayor and city council member from 1994-2019, Echanove is currently employed at Washington State University’s Pullman Campus. He is a graduate of the University of Idaho. “Michael brings a unique blend of experience in local government and rural community and economic that…

Nordic Trade Mission: Day 1

Nordic Trade Mission: Day 1

Finland visits offer insight on industry transformation through 5G, nuclear waste management & more The familiar comfort of rainy Finnish skies welcomed Commerce’s Innovation Cluster delegates on our first day of the Washington state trade mission to the Nordic region. The day began with a briefing from the U.S. Ambassador to Finland, Douglas Hickey and his staff. We visited the Nokia Experience Center, learning about work to bring internet conductivity…

Solar panels coming to more schools, public buildings statewide with latest round of Commerce grants

Solar panels coming to more schools, public buildings statewide with latest round of Commerce grants

$1.4 million awarded to fund 14 projects that will produce sustainable energy and energy savings in communities across Washington state OLYMPIA, WA — The Washington State Department of Commerce today announced $1.4 million in grants to state and local government agencies to install solar panels at public buildings in communities throughout the state. The 14 projects awarded funding in this round will support community efforts to move toward sustainable energy…

Washington state receives $1.4 million SBA grant to boost small business exports

Washington state receives $1.4 million SBA grant to boost small business exports

More than $562 million in sales attributed to State Trade Expansion Program (STEP) since inception OLYMPIA, WA – The U.S. Small Business Administration (SBA) has awarded the Washington State Department of Commerce a tenth year of funding to help state small businesses grow through exporting. The $1.4 million grant to Washington, part of the SBA’s State Trade Expansion Program (STEP), is one of the two largest awarded from a total…

Commerce awards nearly $21 million to operate and maintain permanent housing with services for vulnerable people statewide

Commerce awards nearly $21 million to operate and maintain permanent housing with services for vulnerable people statewide

State grants to 81 organizations will fund over 3,100 units of permanent supportive housing for people with disabling physical and behavioral health conditions OLYMPIA, WA — The Washington State Department of Commerce today announced $20.8 million in new grants to 81 nonprofit organizations providing the state’s most vulnerable people with permanent housing units and services. Funding will be used for operations and maintenance of 3,135 permanent housing units statewide, along…