News Releases
Office of Governor Gary Locke
FOR IMMEDIATE RELEASE - April 1, 2003
Contact:  Governor's Communications Office, 360-902-4136

Gov. Gary Locke Promotes ‘Jobs Now’ Plan in Seattle; Announces Creation of Rural Technology Loan Fund

Gov. Gary Locke today visited Seattle as part of a statewide “Jobs Now” tour, promoting his capital budget and economic recovery plan to create jobs now, spur the state’s economy and build for the future.

Locke first met with minority business leaders at the Urban League of Metropolitan Seattle. The leaders are members of Tabor 100, a grassroots, non-profit organization designed to promote the economic, educational and political advancement of African Americans.

The group discussed the need for more venture capital for minority businesses. The governor said his staff and the staff from the state Department of Community, Trade and Economic Development are interested in working with the business leaders to accomplish that goal.

Locke then traveled to Pike Place Market to meet with small farmers, including members of the Hmong farming community. The group discussed the important role that small farming plays in the economic development of Seattle and King County. Locke also toured the market with the farmers.

The governor then toured the Washington Technology Center (WTC) at the University of Washington, where he announced the establishment of a new joint program of WTC and the Evergreen Community Development Association – the Rural Technology Loan Fund (RTLF).

This fund will provide gap financing or late-stage product development loans to rural technology-based firms in Washington. The purpose of the program is to help create family-wage, sustainable technology jobs that help alleviate poverty in rural communities. The U.S. Department of Agriculture and the private sector will provide the funding.

Evergreen Community Development is a certified development company (CDC) established in 1980. Under the U.S. Small Business Administration (SBA) “504 Program,” CDCs are certified and regulated to make loans in a specific geographic area. Evergreen Community Development serves the entire state of Washington, Alaska and northwest Oregon. Evergreen has been involved in more than 1,000 projects totaling over $370 million through the SBA 504 Program and creating or retaining more than 17,000 jobs in the Pacific Northwest.

The WTC is a state science and technology organization that stimulates economic growth by helping Washington businesses develop commercially viable technology. More than half the companies that WTC helped since its inception in 1983 have been growing small businesses with fewer than 100 employees. In the last six years, companies involved in WTC-sponsored projects have generated more than $280 million in private funding.

During the Seattle tour, Locke once again called on the Legislature to pass his capital budget as soon as possible. “We have an immediate opportunity to make a real difference in creating jobs,” he said. “Jobs that will help the Washington citizens who receive them, and jobs that will help all Washington citizens by building needed facilities and bringing other vital state facilities up to date or up to standard.”

The governor’s 2003-05 capital budget calls for $226 million in new appropriations in King County and $144 million for Seattle. The capital budget for Seattle includes $98.4 million for renovations and improvements to facilities at the University of Washington; $41.5 million for renovations and construction at Seattle-area community colleges (North Seattle, Seattle Central and South Seattle); $2.4 million for the Washington State Patrol’s new Seattle Toxicology Lab; and $2 million for improvements to the Washington State Convention and Trade Center.

Locke’s capital budget supports new private-sector jobs at an annual average of 13,400 construction and related jobs during the next two fiscal years, and 11,000 jobs in the following two fiscal years.

These jobs would come from the $2.5 billion in spending for new public-works funding, including $223 million in new construction at universities and $312 million at community and technical colleges through bonding against lottery revenue and general obligation bonds.

Locke’s seven-point economic recovery plan focuses on:
·Creating thousands of new construction jobs through building new schools, higher education facilities and public works projects;
·Capitalizing on Washington’s competitive advantage in international trade;
·Promoting state businesses and improving the climate for new business;
·Giving communities more effective tools to build Washington businesses;
·Promoting Washington’s emerging technology strengths;
·Improving education to create and fill skilled jobs for today’s competitive marketplace;
·Pushing Congress and the President for an economic stimulus package that helps our state’s workforce.

The governor began his “Jobs Now” tour in February. He has made stops in Bremerton, Wenatchee, Bellingham, Vancouver and the Tri-Cities. He plans to visit Spokane, Aberdeen, Yakima, Federal Way and other cities in the coming weeks.



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