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ATTACHMENT B2 <br />COMPREHENSIVE LAND USE PLAN <br />ECONOMIC DEVELOPMENT ELEMENT BACKGROUND MEMO <br />2015 GROWTH MANAGEMENT ACT <br />UPDATE to the COMPREHENSIVE PLAN <br />1. Introduction <br />The City of Tukwila is committed to the economic well -being of its residents, property owners, and <br />businesses because an adequate tax base is necessary to help achieve the City's vision for the future. <br />Cities in Washington State have a limited authority in encouraging economic development. The most <br />obvious role is for the City is to provide adequate services and infrastructure to complement the retail, <br />manufacturing uses, offices, and residences that are located in the City. The City's plans, programs, <br />policies, taxes, and service levels can encourage economic activity. <br />Historically, the City of Tukwila has had a diverse and growing economic base primarily because of: <br />1. Its location; <br />2. Commercial and industrial properties located on level land; <br />3. Access to regional and global transportation network; <br />4. Lack of a Business and Occupancy Tax; and <br />5. Small responsive government. <br />Tukwila has a major concentration of retail and services businesses. In the past, Tukwila also had a large <br />concentration of manufacturing in the City; however, manufacturing in the City is declining. Tukwila's <br />proximity to Sea -Tac Airport allows it to have a strong and growing lodging industry. Tukwila has a <br />significant job and retail base, much larger than the City's nighttime population. <br />Tukwila's economic well -being is also facing some challenges. <br />Tukwila's median income is lower than the median for King County and Tukwila residents' median <br />incomes are not keeping pace with inflation. While King County as a whole is well educated, Tukwila's <br />residents have a level of income below the average education attainment for the County. This puts <br />Tukwila residents at a disadvantage for attaining higher paying jobs. The City has also seen a gradual loss <br />in sales tax market share to surrounding cities. <br />In 2012, Tukwila created a Strategic Plan and one of the five goals and objectives was "A Diverse and <br />Regionally Competitive Economy." The City's economic development efforts will continue to be multi - <br />pronged, addressing three aspects of the City's economy: <br />1 Economic Development Background Memo <br />37 <br />