Commerce partners with Heritage Bank and Calvert Impact to launch small business loan programs

Commerce partners with Heritage Bank and Calvert Impact to launch small business loan programs

Applications open for two new loan programs: Owner-Occupied Commercial Real-Estate and Small Business Flex Fund 2 OLYMPIA, WA – The Washington State Department of Commerce has launched the first of five planned small business loan and investment programs aimed at increasing access to capital for small businesses in Washington state, particularly those that have been historically underserved or underbanked. A total of $163 million in funding comes from the U.S.…

Commerce awards $2 million to encourage innovative business and manufacturing expansion statewide

Commerce awards $2 million to encourage innovative business and manufacturing expansion statewide

Second round of Evergreen Manufacturing grants anticipate creating up to 526 new jobs over three years OLYMPIA, WA – The Washington Department of Commerce today announced $2 million in grants to accelerate manufacturing job growth and economic opportunity across the state, with a focus on rural communities. Ten projects were awarded $200,000 each through the Evergreen Manufacturing grant program. Together, the projects anticipate supporting up to an estimated 526 jobs…

With billions of federal dollars at stake, state helps communities secure funding for infrastructure, innovation, jobs

With billions of federal dollars at stake, state helps communities secure funding for infrastructure, innovation, jobs

Commerce Director Fong announces first round of grants to assist Washington state applications for millions in federal funds OLYMPIA, WA – The Washington Department of Commerce today announced the first two rounds of grants from a new program designed to assist communities in capturing opportunities to receive a share of billions in federal funding currently available to states. The Securing Federal Funding Initiative, funded by the Washington State Legislature, supports…

Report: Creative economy contributes nearly $120 billion to Washington state GDP

Report: Creative economy contributes nearly $120 billion to Washington state GDP

Commerce study outlines priorities, strategies to grow creative sector which represents nearly 20% of total state economic production OLYMPIA, WA – The creative sector accounts for nearly 20% of Washington state’s economy, contributing nearly $120 billion annually to the state GDP, according to a report released today from the Washington State Department of Commerce. The report, produced with the assistance of the Creative Economy Strategic Work Group and lead contractor…

State Equitable Access to Credit program accepting 2023 contributions through December 31

State Equitable Access to Credit program accepting 2023 contributions through December 31

New tax credit program will award grants to qualified lending institutions to provide businesses in historically underserved communities with access to credit. OLYMPIA, WA – Businesses and individuals with state Business and Occupation Tax (B&O) liabilities can earn tax credits by contributing to the state’s new Equitable Access to Credit program, launched in August. Cash contributions to the program can receive a dollar-for-dollar tax credit from the Department of Revenue…

Inslee budget proposes $1.2 billion increase for Department of Commerce

Inslee budget proposes $1.2 billion increase for Department of Commerce

Focus on equity runs throughout significant funding increases serving range of priorities from housing to clean energy, broadband expansion and helping secure federal funding OLYMPIA, WA — Gov. Jay Inslee’s supplemental budget released today proposes a $1.2 billion increase for the Department of Commerce, including $415 million in operating funds and $775 million in new capital dollars. The proposed budget funds all of the agency’s upcoming legislative requests. Commerce is…

Commerce names former Pierce County Auditor Julie Anderson and Seattle PNNL Director Dr. Joseph Williams to industry sector lead posts

Commerce names former Pierce County Auditor Julie Anderson and Seattle PNNL Director Dr. Joseph Williams to industry sector lead posts

Two Commerce alums rejoin agency to lead state economic development for key industry sectors OLYMPIA, WA — Washington Department of Commerce Director Mike Fong welcomes back two former agency executives to lead key industry sector economic development: Julie Anderson rejoined the department in November as Agricultural Innovation Sector Lead, and Dr. Joseph Williams came back on board this month as Information and Communications Technology (ICT) Sector Lead. Both are based…

Community Economic Revitalization Board invests $3.3 million in three counties

Community Economic Revitalization Board invests $3.3 million in three counties

NOTE: These projects are subject to approval by CERB at the regularly scheduled business meeting on Thursday, Nov. 16. State funds leverage over $2.1 million in private and local resources expected to create and retain 81 high-wage jobs. OLYMPIA, WA – The Washington State Community Economic Revitalization Board (CERB) today approved $3.2 million in low interest loans and $100,000 in grants for economic development and public infrastructure improvements intended to…

American Aerospace Materials Manufacturing Center in Spokane designated one of nation’s 31 inaugural Tech Hubs

American Aerospace Materials Manufacturing Center in Spokane designated one of nation’s 31 inaugural Tech Hubs

Led by Gonzaga University, AAMMC Tech Hub brings together some 50 public and private partners primed for innovation and job creation in development and manufacturing of composite materials for the future of lightweight, sustainable aircraft. OLYMPIA, WA — The American Aerospace Materials Manufacturing Center located in Spokane, WA today was designated as one of the 31 inaugural Tech Hubs across the nation by the Biden-Harris administration through the U.S. Department of…

Commerce funds four more innovative projects seeking to repurpose industrial and agricultural waste

Commerce funds four more innovative projects seeking to repurpose industrial and agricultural waste

Industrial Symbiosis grants advance the idea that growth does not have to equal waste; one company’s waste is another’s resource OLYMPIA, WA – The Washington State Department of Commerce today announced $850,000 in grants to four projects that support efforts to develop beneficial uses for industrial waste. In this second year of the Industrial Symbiosis Program, funded projects range from research and development to implementation. The program seeks to go beyond…