Governor Gary Locke’s Remarks
WaferTech Bill Signing
May 8, 2003
Good afternoon. It’s great to be here.
Today I will sign two bills into law that will be good for the semiconductor industry in southwest Washington, good for local governments, and good for our state.
SB 5725 creates significant tax incentives for semiconductor manufacturers in our state. These incentives take effect two years from now and will last 12 years. The new law will bolster the entire semiconducter industry cluster in Southwest Washington.
This includes WaferTech, of course, and that’s important. This area needs the 850 good jobs WaferTech provides—as well as additional jobs as WaferTech grows and prospers! And our state needs good companies like WaferTech in growth industries.
We’ve been working very hard the past few years to make our state more competitive. We’ve cut red tape, and streamlined regulatory processes. We’ve created new economic development tools to help local governments and rural areas in our state attract new business—and keep the businesses they have.
Today’s signing of this tax incentive bill is another step forward in improving our state’s business climate. A competitive business climate brings good businesses to our state, and good businesses mean good jobs. Jobs are the key to economic recovery and vitality.
The second bill I will sign is SB 6026. This bill allows local governments to establish a tourism promotion area. A special assessment can be imposed in that area on lodging, with a maximum assessment of $2 per room per night. This revenue will then be used for tourism promotion.
We live in one of the most beautiful places on the planet. A carefully developed tourism industry and strategy will provide jobs and revenue without compromising our quality of life. This bill will help local governments generate needed funding for tourism promotion.
I am very pleased to be signing these bills today. Semiconductor manufacturers deserve these tax incentives. Local governments need funding to promote tourism.
And as a state, we need to continue taking steps that will nurture our state’s economy and create more jobs. And we will.
I will now sign these two bills into law.