More than 500 years ago, an early entrepreneur set sail with the philosophy of heading west to reach lucrative trade markets in the Far East.
Where Christopher Columbus failed, Washington businesses have flourished.
Because its ports are one day closer to Asian markets than those in California, Washington is referred to as the Gateway to the Pacific Rim. But last year's Asian financial crunch proved the state's business success is not solely dependent upon Asian markets.
Employment remained strong because the falloff in traditionally strong export industries in the Evergreen State was offset by domestic demand.
For example, Travelers Property Casualty announced in October that it would add 300 employees to its Spokane call center despite the fact that the company hasn't had time to fill the original 500 positions announced a year earlier.
Titanium Mill Investing $40 Million in Richland
International Hearth Melting, LLC, announced in October that it had begun production at its new $40 million titanium mill in Richland, located in the Tri-Cities area in south central Washington.
"IHM has one of the most powerful and technologically advanced electron beam furnaces in the world that is used to melt and refine raw titanium to meet specific customer needs," said Dan L. Greenfield, manager of corporate communications for Allegheny Teledyne, Inc., IHM's parent company.
Allegheny Teledyne is one of only two fully integrated U.S. titanium producers.
The titanium ingots and slabs produced at IHM are used in aircraft parts, jet engines and chemical processing plants.
IHM is one of several new manufacturing tenants in Horn Rapids Industrial Park, located just north of downtown Richland.
IHM Plant Manager Ingo Grosse said the city deserves credit for its work to attract companies like IHM, Kaiser Aluminum, Precision Castparts and Siemens. Grosse said the city's fast-track permitting ensured timely construction and start up of IHM's facility.
Richland, which has been recognized by the Portland Oregonian newspaper and Washington CEO magazine for its business-friendly atmosphere and low cost of doing business, owns more than 1,700 acres suited for industrial development.
Steel Industry Growth
While Pittsburgh may be known as the Steel City, Washington has become a strong participant in the Pacific Northwest's steel industry.
Four companies have announced recent relocations or expansions, including three in the fast-growing southwest corner of the state, just across the Oregon border from Portland.
BHP Coated Steel in Kalama, PDM/General Steel in Woodland and Prudential Steel Inc. in Longview have announced total investments of $260 million and the creation of more than 500 jobs in Cowlitz and Clark counties.
Prudential Steel recently completed a 37,000 square foot manufacturing facility, an 80,000 square foot storage building and a 15,000 square foot office building.
The Longview plant produces 100,000 tons of steel per year, and serves customers in the Pacific Northwest, California and the Rocky Mountain states.
Also in Longview, a 180-acre industrial park is close to completion, with access to deep-water marine terminals and rail.
All utilities and roads should be in place by the end of 1999, although companies may begin moving in before that time.
| Washington's 10 Largest Companies |
| Company | No. of Employees | Industry |
| 1. | The Boeing Co. | 75,200 | Aerospace and Defense Mfg. |
| 2. | Price Costco Inc. | 47,000 | Warehouse Operations |
| 3. | The Hillhaven Corp. | 38,100 | Health Care Services |
| 4. | Weyerhaeuser Co. | 36,665 | Forest Products Mfg. |
| 5. | Nordstrom Inc. | 33,000 | Fashion Specialty Retailer |
| 6. | Airborne Freight Corp. | 17,400 | Air Express/Freight |
| 7. | Microsoft Corp. | 15,257 | Software Developer |
| 8. | Paccar Inc. | 14,600 | Heavy-Duty Truck Mfg. |
| 9. | Safeco Corp. | 7,550 | Financial Services |
| 10. | Alaska Air Group Inc. | 6,901 | Airline |
| Source: Washington State Dept. of Community, Trade and Economic Development
|
Washington Facts & Contacts
DEMOGRAPHY AND
ECONOMY
Population: 5.5 million
Capital: Olympia
Three Largest Cities: Seattle, 524,704; Spokane, 186,562; Tacoma, 179,114
GSP: $143 billion
Per Capita Income: $25,187
Percentage of Private Manufacturing Labor Force Organized: 26.1%
Right-to-Work State: no
Unemployment Rate: 4.9% (Feb. '99)
Average Hourly Manufacturing Wage: $15.60
Population Age 25 and Over With Bachelor's Degree or More: Seattle, 37.9%; Spokane, 21.0%; Tacoma, 15.8%
EM's Education Quotient for the Largest School Districts: Seattle, Green; Spokane, Blue; Tacoma, Blue
Corporate Income Tax Rate: no state tax Percentage Employment by Sector: construction, 5.4%; manufacturing, 14.9%; mining, 0.13%; services, 27.3%; transpor- tation/utilities, 5.0%; retail, 24.2%
Primary Industries: aeronautics, agriculture, lumber & wood products, biotech, high-tech
Targeted Industries: biomedical technology, semiconductor wafer production
BUSINESS ASSISTANCE
Major Financial Incentives: tax incentive programs for: sales tax forgiveness, job credit/job creation, high-tech sales tax, warehouse distribution centers
Worker Training Programs: Job Skills Program
Enterprise Zones: 5
Foreign Trade Zones: 12
Environmental Permit Assistance: Dept. of Ecology, Permit Assistance Center, P.O. Box 47600, Olympia, WA 98504-7600
FOR MORE INFORMATION CONTACT
Tim Douglas, Director, State of Washington CTED, P.O. Box 48350, Olympia, WA 98504, (360) 753-7426; fax (360) 586-3582 |
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