Gov. Gregoire's statement about June revenue forecast

For Immediate Release: June 16, 2011

Gov. Chris Gregoire today issued the following statement in response to the June revenue forecast:

�Three years of this grinding recession have tested our families, businesses and state and local governments. We continue to recover from this recession but not at the rate projected.

�In anticipation of another negative forecast I asked the Legislature to assure that the state�s 2011-2013 ending fund balance had an adequate reserve to meet the shortfall. I�m glad I did. Three big factors are impacting our recovery right now: while there is demand for automobiles in the state, the earthquake and tsunami in Japan have slowed production hampering that demand; the financial crisis in Europe, particularly in Greece, has led to investor uncertainty nationwide; and volatile gas prices have left our consumers ever more cautious.

�At the state level we focused on job-creating efforts making it easier for businesses to hire and grow and get our families back to work. Further, our strong export market has helped us survive the recession better than most states and this forecast points to the need for further exports and increased growth. My goal at the Paris Air Show is to continue to create that demand and show the world that Washington has the best workers and companies and a competitive business environment.�

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