The EDB’S Annual Report
Our annual report provides transparency and demonstrates the results of our work.
The EDB is in the job and wealth creation business. The more high-wage jobs and wealth-creating companies in Tacoma-Pierce County, the better the quality of life and the greater the job and career opportunities for our citizens.
Retaining and recruiting primary businesses is how we compete every day.
Primary businesses export a product or service out of Tacoma-Pierce County and import new dollars into the local economy, thereby “growing the wealth pie.” That wealth energizes the local community through employee wages and purchases from suppliers who employ
Primary businesses typically pay higher wages than other businesses because higher-value goods and services are produced and sold. In short, primary businesses are the fundamental building blocks of high-wage job creation.
The competition is fierce. Every retention and expansion case for Tacoma-Pierce County is a potential recruitment case for another region. Tacoma-Pierce County faces regional, national and global competition to keep its existing firms, as well as recruit new firms to our market.
The Last Five Years: 2015–2019
Because most deals take well over a year to conclude, the EDB measures its results in five-year increments. The EDB’s $140:1 return on its investors’ dollars from 2015-2019 is indicative of the strength of its recruitment and retention programs.
Trends in 2019
• National and Global Interest: In 2019 the EDB generated and attracted leads from across the USA and around the world, including companies based in Belgium, Canada, China, Croatia,
France, Great Britain, Germany, Norway, South Korea, Taiwan, and Turkey.
• Certainty: Predictability and reliability in the development process are critical to projects. Permitting costs and timelines need to be well-defined and understood up front.
• Workforce Pipeline: Companies continue to focus on the availability and retention of a skilled workforce. Access to an educated and trained workforce pipeline provides confidence
in a location decision. A strong ecosystem of training programs, internships, apprenticeships, certificate programs, and degrees provide assurance that the South Sound can sustain future growth.
Download our Annual Reports
Prior annual reports may be available upon request.