Ordinance 3454-15 with Exhibits A- C

EVERETT COMPREHENSIVE PLAN CHAPTER 7 ECONOMIC DEVELOPMENT I. Introduction Under the Vision 2040 Regional Growth Strategy, Everett is the Metropolitan City in Snohomish County and has a significant job base and population. Southwest Everett / Paine Field is designated by Vision 2040 as a Manufacturing / Industrial Center with a significant amount of regional employment and manufacturing jobs. The Manufacturing/Industrial Center is directly supported by the Port of Everett's international seaport. The economic health of a city affects the city's ability to provide services. Considering the Growth Management Act (GMA) goal for economic development,) Everett is in a position to promote economic opportunity and to encourage economic growth. An economically healthy City helps support its own public services, as well as county and state programs through employment and the tax revenues. A strong employment base provides an opportunity for city residents to earn a living, which in turn, supports local businesses that generate additional tax revenues. About fifty-three percent of Everett's revenues in 2013 came from a combination of sales tax, business and occupation (B&O) tax, and property tax. This is down from sixty percent in 2004 and sixty-six percent in 1993. The revenue shift is a result of property tax initiatives, B&O tax reductions for the Boeing Company to keep production of the 777X in Everett, reduction in state shared revenues to local government, and the effects of internet sales affecting sales tax revenue. II. The Economic Development Element of the Comprehensive Plan The City of Everett has chosen to include an Economic Development Element in the Comprehensive Plan. Over the years feedback from the community has emphasized the need for diversifying Everett's economic base and more economic opportunities for all citizens. The purpose of the Economic Development Element is to ensure that Everett's long-range planning policies reflect the community's desire and need for a healthy local economy. Everett's policies are compatible with the adopted Economic Development Policies of the Snohomish Countywide Planning Policies. The city's economic development priorities will influence the policies of other elements of the comprehensive plan. Everett must coordinate and integrate economic development planning with all other elements of the Comprehensive Plan. The future economic fortunes of Everett and its neighbors will be substantially influenced by the planning decisions made by the city, Snohomish County, other local jurisdictions, and the Port of Everett in conjunction with the private sector. t The GMA goal states: "Encourage economic development throughout the state that is consistent with adopted comprehensive plans, promote economic opportunity for all citizens of this state, especially for unemployed and for disadvantaged persons, promote the retention and expansion of existing businesses and recruitment of new businesses, recognize regional differences impacting economic development opportunities, and encourage growth in areas experiencing insufficient economic growth, all within the capacities of the State's natural resources, public services, and public facilities." ECONOMIC DEVELOPMENT ELEMENT