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EVERETT 2044 <br />COMPREHENSIVE PLAN <br /> <br /> <br /> <br /> 6/17/2025 <br />COMPREHENSIVE PLAN <br />ECONOMIC DEVELOPMENT ELEMENT <br /> Page 71 <br />As an urban community, Everett has space for new businesses across the city and in the Southwest <br />Manufacturing Industrial Center (MIC) for plants and other business endeavors. It is important that <br />Everett builds on local talent, existing buildings and land to grow and attract enterprises that can afford <br />to pay livable wages and provide the foundation of a healthy economy. <br />Business Friendly Environment and Reputation <br />Creating an environment that promotes economic development depends on a multitude of factors, and <br />the City has a key role in spurring private sector investment and the creation of jobs by creating a <br />business friendly climate. From the quality of the City’s services and regulations to public investments in <br />infrastructure and organizations, the City has significant influence on how people perceive the ease of <br />doing business in Everett. <br />Everett is seen as a relatively affordable and growing business hub, but addressing permitting processes, <br />safety concerns, and investment incentives will be key to enhancing its reputation as a business-friendly <br />destination. Downtown Everett is experiencing renewed business interest, with strong potential for <br />economic expansion. However, redeveloping vacant spaces, improving infrastructure, and fostering a <br />vibrant retail and dining scene will be essential to sustaining this momentum. <br />Advantages of Doing Business in Everett: <br />▪ Affordability compared to nearby cities: Everett offers lower commercial lease rates and <br />business costs than Seattle and Bellevue, making it an attractive alternative. <br />▪ Growing interest in investment: Many business owners are actively looking to expand or <br />relocate to Everett, indicating positive market potential. <br />▪ City investment in downtown improvement: Efforts to revitalize vacant spaces and support <br />small businesses show a commitment to enhancing economic vibrancy. <br />Business Growth Potential is Strong: <br />▪ 106 businesses expressed interest in expansion, relocation, or opening new ventures in <br />Downtown Everett. <br />▪ 38 existing businesses are considering expansion, 59 are interested in opening new businesses, <br />and 9 are looking to relocate to downtown. <br />▪ This positive sentiment signals confidence in Everett’s commercial ecosystem, with <br />opportunities for growth in retail, dining, and professional services. <br />Land Use <br />Everett has and needs diverse business districts and building types to retain and attract new <br />development, adjust to market trends and remain attractive to key industry sectors. The Urban Form <br />element, zoning, and development regulations work in concert with the Economic Development <br />element to provide for the land use and building types necessary to achieve the city’s economic <br />development strategy, within the context of the city’s overall land use vision. Moreover, the city will <br />need to ensure the necessary infrastructure is planned, funded and built to support these commercial <br />centers.