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Pierce County economic board cites $217 million in recent capital investment, warns of state funding cuts
Summary
The Tacoma‑Pierce County Economic Development Board told Lakewood council members it helped facilitate $217 million in investment and nearly 3,900 jobs from 12 projects since 2020, and said recent state budget cuts will reduce its ADO funding by $50,000 per year starting July 1.
Michael Katzie, president and CEO of the Tacoma‑Pierce County Economic Development Board (EDB), and Maddie Wirton, vice president for business retention and expansion, briefed Lakewood council members on the board’s work to recruit investment, retain local businesses and promote the county to outside investors.
Katzie said the EDB is the state‑designated associate development organization (ADO) for Pierce County and that a recent state budget shortfall will cut its ADO funding by $50,000 annually starting July 1.
The EDB overview highlighted three program areas: business recruitment, business retention and expansion, and marketing. Katzie said recruitment and a streamlined permitting process help land projects, but that long‑term growth typically comes from expanding existing local businesses. He noted the EDB’s role is to convene partners and present competitive incentive and permitting packages when firms consider Pierce County.
The board presented an economic‑impact analysis of 12 projects completed between 2020 and 2024 that it directly supported. The EDB reported those projects generated $217 million in capital investment, 2,874 direct jobs and 3,845 total jobs when direct, indirect and induced employment are included. The analysis estimated $52 million in new annual tax revenue and $267 million in new annual personal income tied to the projects.
Katzie said EDB investors receive measurable returns: the organization’s analysis found private investors received about $24.22 in annual corporate profit for every dollar invested in the EDB; municipalities averaged $7.05 returned per dollar in new annual tax revenue; and the state returned about $23.86 per dollar invested, according to the EDB’s model.
EDB staff described typical assistance to businesses: confidential site searches, incentive navigation, recruitment outreach and connections to workforce and training partners such as Workforce Central and Clover Park Technical College. Maddie Wirton said Pierce County continues to attract aerospace suppliers and foreign direct investment — notably Japanese firms — and that industrial land scarcity is pushing projects toward less‑developed areas of the county.
Council members asked how the EDB shares feedback from site selectors with cities. Wirton said site selection typically narrows to one or two communities before detailed incentive negotiations begin; jurisdictions then offer comparative incentive packages and permitting assurances.
The council did not take formal action. Council members raised questions about whether Lakewood can retool permitting, site availability and community policies to compete for major projects.
Ending: The EDB said it will continue investor outreach — including international trade trips such as the Paris Air Show — and will provide a forthcoming five‑year work plan and additional details to member cities.
