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Senate endorses Pearson bill to encourage manufacturing jobs

 


Senate endorses Pearson bill to encourage manufacturing jobs

OLYMPIA… The cities of Arlington and Marysville want to develop more than 1,000 acres of industrial land to create more family-wage jobs; however, they face tough competition for those jobs not only from other U.S. regions, but cities around the world.

Today, the Senate unanimously passed a measure, sponsored by Sen. Kirk Pearson, aimed at helping communities compete for employers. Senate Bill 6096 would provide property-tax exemptions to encourage new manufacturing and industrial uses on undeveloped or underutilized lands zoned for industrial and manufacturing uses in targeted urban areas.

“This bill is about creating real, family-wage jobs,” said Pearson.

He also spoke specifically about the potential benefit SB 6096 would have on his district and surrounding areas.

“It’s important to communities like Arlington and Marysville, which have this great asset of available industrial land, that we encourage manufacturing companies to invest and create jobs here in Washington,” said Pearson, R-Monroe. “This bill will help ensure the creation of new jobs, bring new life to areas of the state in need of revitalization and hopefully encourage growth and long-term economic security for the people of these areas.”

Under the bill, the value of new construction of industrial or manufacturing facilities that meet certain requirements is exempt from property taxes for 10 years. To qualify, an applicant must meet a minimum improvement value of $800,000 and create at least 25 family-wage jobs. A city with a population of at least 25,000 and lands zoned for industrial and manufacturing uses prior to 2013 may establish targeted areas within or next to an innovation partnership zone, foreign trade zone, or EB-5 regional center.

Pearson stressed prior to the vote that the bill contains a number of checks and balances and has no cost to the state or effect on the state portion of the property tax.

The bill now moves to the House of Representatives for its consideration.

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Visit us online at http://www.SenatorKirkPearson.com.

 

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