Archived: Increase real state gross domestic product (GDP)
Supplemental Information
Why is this a priority?
Gross domestic product (GDP) measures the market value of all goods and services produced by the state and as such is considered one of the most important measures of economic growth/success.
How are we doing?
To achieve this goal, we need to grow an average of 2.6 percent each year. In 2016, Washington grew at a slightly faster rate -- 3.7 percent -- and so is on-track to meet this goal. State-level GDP is tracked on an annual basis.
Data for 2018 will be available in June 2017.
What are we working on?
- Business Attraction and Foreign Direct investment program – recruiting national and international firms to begin operations in Washington State.
- Small Business Export Assistance Program – assisting small business in exporting for the first time or finding customers in a new international market.
- Startup Washington – supporting the entrepreneurs in developing partnerships with research facilities to improve commercialization.
- Preparing people for jobs by focusing on education/training that meet needs of existing employers with an emphasis on STEM education.
- Improve the economic climate by improving the infrastructure and reducing regulatory burdens (and creating a first-of-its-kind red tape index).
For More Information
- Economic Development in Washington State: http://www.commerce.wa.gov/Economic-Development/Pages/default.aspx
- Washington Tourism Alliance: http://watourismalliance.com/
