A Smart Investment

When the state partners with local governments on economic development strategies, the outcome is a win for Washington’s residents, businesses, cities and the state.

Vancouver reinvented its downtown, transforming the 30-block area, retaining several major employers and creating new jobs. The state was an important partner in this development.

Between 1997 and 2006 the state invested $28 million in Vancouver’s convention center and the city invested nearly the same. This investment, along with other key City infrastructure projects, helped as a catalyst for an additional $275 million in private economic development. What is the return on investment through 2025 from these projects?

• Vancouver will see an estimated $27 million in revenue;

• Clark County, the library, port and school district will receive an estimated $24 million in revenue; and

• The state is estimated to recoup $113 million in revenue—four times the amount invested.

Local residents definitely benefited. These developments helped create more good jobs, new housing, transportation improvements, and better amenities such as parks, shopping centers and restaurants.

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