2025 OEDC Stakeholder Report

This report to the economic community is intended to highlight the work of the Office of Economic Development & Competitiveness (OEDC). Where possible, the data reflects about five years of work, underscoring the time needed to nuture  economic development, where efforts to strengthen communities statewide can take years to have an impact.

Where applicable, explanatory notes and additional data are provided to more completely and transparently tell the story of economic development at the state, regional and local level.

ANNUAL REPORT HOME | BUSINESS RECRUITMENT, EXPANSION & RETENTION  |  SMALL BUSINESS EXPORT ASSISTANCE
SMALL BUSINESS EDUCATION AND TRAINING | STATE MARKETING

OEDC Overview

For more than a century, innovation has fueled our state’s economic progress. New investments in key high-growth industry sectors will continue to pay dividends for decades to come. Small businesses are the primary drivers of the economy and when given the support they need, create high-wage jobs, providing upward mobility to those who have been historically marginalized.

To invest in Washington State’s economic progress, we are committed to:

  • Increasing access to capital.
  • Improving and standardizing data collection.
  • Identifying and filling gaps in technical assistance, training and education.
  • Leveraging and deepening existing partnerships statewide.
  • Expanding opportunities for international trade.
  • Improving site readiness and streamlining permitting.
  • Identifying and securing federal and other funding where possible.

A network of economic partners throughout Washington’s 39 counties helps build a robust, diverse and stable economy, with a focus on businesses in rural and historically underserved and underrepresented communities. This includes Commerce’s Small Business Resiliency Network, associate development organizations (ADOs), Small Business Development Centers, SCORE offices and other state and federal agencies.

Our Focus

The OEDC is aligned along six core economic development strategies:

  • Business Development: Our team develops and responds to leads from global consultants and investors, encouraging businesses worldwide to actively consider Washington State for their expansion activities. Close to home, the team focuses on business retention and expansion support for companies already operating in the state.
  • Export Assistance: When small businesses need technical, financial and international marketing assistance to drive exports, our team is here to help. This includes adminstering SBA’s State Trade Expansion Program (STEP) export vouchers to reimburse those who want to engage in international market expansion activities. Whether hosting online webinars or seminars on export competencies, sponsoring trade shows, or leading international trade missions, the Export Assistance team helps expand Washington State businesses to a global marketplace.
  • Small Business Finance and Community Support: This team develops innovative loan and financing programs for small businesses that are often unable to attain traditional funding from financial institutions. 
  • Key Industry Sectors: This team represents the state’s high-growth industries – from  aerospace, aviation to clean technology, forest products, information and communication technology (ICT), and many more. The focus is forging and promoting public-private partnerships, enhancing the workforce and advancing polices that support small business growth and expansion statewide.
  •  Promoting Washington State: OEDC also serves as the state’s conduit for promoting tourism through the Washington Tourism Marketing Authority.
Our Impact

OEDC works with businesses and other organizations in the state and around the globe to strengthen and diversify our economy, prepare our workforce, and help small businesses grow. This work positions the state to weather major economic shifts caused by changing leadership, policies and world politics. Highlights of the OEDC’s work over the last five years include:

Business Development: 

  • 76 new, retained or expanded businesses, 61% of them in rural and underserved parts of the state between 2018-2023.
  • 10,977 new or retained jobs across the state.
  • Over $7.4 billion in new or continued capital investment in Washington’s economy.

Export Assistance

  • 1,138 small businesses awarded STEP grants to expand into new markets overseas.
  • STEP export voucher program to localize their websites and develop e-commerce platforms, identify foreign buyers via B2B matchmaking meetings, attend foreign trade shows and missions, participate in export training, perform compliance testing for entry into an export market, develop international marketing materials, and other services.
  • 3,976 small businesses assisted with export issues related to tariffs, paperwork, foreign trade zones and reseller permits.
  • New export sales exceeding $1 billion through participation in international trade shows as part of the Washington State delegation.
  • Introducing our state’s small businesses to overseas markets through trade missions and trade shows, including the Paris and Farnborough Air Shows, Hannover Messe, Mobile World Congress and MEDICA.
  • About a dozen overseas trade consultants across 23 countries are critical to connect Washington companies with potential customers, partners and distributors. This support helps small businesses explore new export opportunities, growing jobs here at home.

Staffing & Budget