Forbes.com: Washington Moves To 5th Best State To Do Business

For Immediate Release: July 11, 2007

OLYMPIA � In a national study released today, Forbes.com today ranked Washington as the 5th �best state for business�. Washington jumped from its rank of 12th nationally in Forbes� 50-state survey last year.

Forbes noted that Washington is �The biggest mover� by �rising from 12th to fifth place.� Forbes further noted, �Washington is also the only state to finish in the top five in three main categories (labor, regulatory environment and growth). And Washington's numbers are up across the board when you look both backward and at projections into the future.�

�Our top five ranking in the Forbes survey confirms that Washington is moving in the right direction and that our state is a great place to do business, work and raise a family,� said Governor Chris Gregoire.

While Governor Gregoire is pleased by the Forbes ranking, it only confirms the progress that Washington is making on numerous fronts.

For instance:

• Washingtonians are working � at 4.6 percent, we currently have one of the lowest unemployment rates in 30 years;




• Washington business and workers will save $315 million this year due to a workers' compensation rate holiday, in addition to $100 million in rate reductions for business;




• Washingtonians pay less in taxes than citizens in 35 other states - according to the Washington State Budget and Policy Center;




• Washington is attracting tourism money - Seattle was just ranked by AAA as the 3rd favorite tourist destination in the US for summer 2007 � particularly notable as we are tripling our investment, through a public-private partnership, in tourism to Washington and preparing for the 2010 Olympics in neighboring British Columbia;




• We are saving for the future - with $1.2 billion in reserves, including $226.5 million in a constitutionally protected rainy day account that voters this year have a chance to approve;




• Our large and small employers are thriving - Boeing's roll-out this month of its new 787 (the first new airplane in 13 years) supports hundreds of small businesses in our state and thousands of family-wage jobs;




• Our economy is diverse � Washington is now the 2nd largest wine-producing state in the nation, and the flourishing wine industry � like the aerospace and technology industries � is supporting more new businesses, including Cameron Glass in Kalama, the first new glass producing plant in the US in 30 years;




• We are investing to stay on top � Governor Gregoire and Legislators have made record investments in job growth and development throughout the state and invested strategically in education at all levels, tearing down old assumptions and "silos" that drove education funding. These investments in education, in job growth and in economic development will help to keep our business climate strong for years to come.




• We are cutting red tape � Under Governor Gregoire�s leadership, business owners are using a more streamlined process for managing regulation. As Forbes also stated, �One of Washington's big strengths is reduced red tape. The Office of Regulatory Assistance helps individuals and businesses sort through the many layers of government regulation all in one place. If a number of state agencies need to be contacted for a new business to obtain permits, it can be handled from one source.�

�Governor Gregoire's support, dedication, and commitment were crucial to our success in locating our business in Washington and moving forward as quickly as possible,� said Jim Cameron, President and CEO of Cameron Family Glass in Kalama.

Governor Gregoire is acutely aware of changing economic trends and is planning ahead so that we can continue to provide our citizens the vital services that keep our economy thriving. The Rainy Day Fund that she introduced and worked to move through Legislative approval helps achieve that goal � but so, too, do her investments in health care, education and job growth.

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