Economy & Opportunity
The Great Recession has been tough on Seattle, we’ve lost tens of thousands of high-wage jobs, many of which will not return when the recession ends. Now is the time to take decisive action to begin laying the foundations for the next growth economy, an economy based on the real wealth of Main Street rather than the false wealth of Wall Street. Seattle has the culture, the talent pool and the resources to lead the way in green technology. And let’s use this opportunity to extend economic opportunity to populations who were left out of the last boom, which will reduce the strain on social services and give people a fair shot.
Launch Seattle: A new $100 million self-sustaining venture capital fund to jumpstart the next wealth-generating economy, with a focus on green technology and a requirement that companies locate here in Seattle.
Seattle Means Business: A new partnership with the Small Business Administration, our community colleges and local Chambers of Commerce to help people with good ideas get them off the ground. In the aftermath of the Boeing SST cancellation legions of talented people were unemployed. Many of them went on to create the technology companies that have made Seattle a leader in the technology industry. We have similar opportunities today with the more than 20,000 highly skilled workers who have been laid off. Let's reduce the costs of failure and thereby accelerate innovation and spur the next job-growing economy.
Emerald Dollars: A local currency along the lines of Berkshares in Massachussetts to encourage Seattleites to spend their money locally at businesses that provide good local jobs to power our economy.
Rainier Valley Green Technology Corridor: The City should create a local improvement district to spur light industrial green technology businesses to locate in Rainier Valley, providing local jobs to many who were left out of the last boom.
Taxes: Repeal ill-thought out taxes on small business that the incumbent has supported: repeal the head tax altogether and exempt small business from the square footage tax. Replace revenue where necessary with fair taxes that set incentives aligned with our priorities.
Infrastructure Investments: As gas prices climb inexorably up, people will migrate from the suburbs and exurbs back to the cities. At least 200,000 will arrive in Seattle over the next several decades, and likely many more. Our sewage and drainage systems, bridges, roads and other infrastructure are crumbling. We should start rebuilding our aging utility and transportation infrastructure now which will stimulate our local economy and prepare us for the future.
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