 Statewide data gives us a broad overview of Washington's economy, but it's when we drill down into the numbers by industry sector, region or demographics that we see important differences. Some of these deeper data offer insight into areas of focus for encouraging equitable and sustainable recovery. For example, recent monthly data compiled in Commerce's Economic Recovery Dashboard reveal strong growth in the sector comprised of agriculture, forestry, fishing and hunting, led by a 73% increase in taxable business income for crop production over the same period last year. Forestry and logging increased 23%. That is positive news, especially for many rural and Eastern Washington communities. On the other hand, digging deeper in the sector data, we see fishing and hunting lagging, revealing opportunity to focus on supporting maritime communities, such as the recent relief funding made available to shellfish growers. Similarly, we see - not surprisingly - that the leisure and hospitality sector continues to suffer mightily across the board. Looking deeper in that sector, a disproportionate impact on performing arts, including spectator sports, emerges with a nearly 70% decrease in income over the same month last year. The pandemic is decimating our creative economy, demanding steps such as our partnership with the Washington State Arts Commission to provide $1.5 million in CARES Act funding for grants to arts and culture nonprofits throughout the state. Demographic data reveal other out-sized negative impacts on communities of color and women. CONTINUE READING...  6th Annual Global Entrepreneurship Month aims to help you get started According to the U.S. Census Bureau, new business starts are up 8% overall this year, and a whopping 25% in the third quarter here in Washington state – 23,611 in 2020 compared to 17,963 in 2019 for the third quarter – which is especially significant given the COVID-19 pandemic. It's true that small businesses are the engine of the U.S. economy, especially during downturns in the economy when there tends to be a corresponding increase in entrepreneurship (Journal of Economics and Management Strategy). Gov. Jay Inslee this week proclaimed November Global Entrepreneurship Month in Washington, kicking off nearly 50 online webinars and on-demand training sessions throughout November to help people start new businesses and help current business owners pivot, rebuild or safely restart in the age of COVID-19. LEARN MORE |  Washington has been grappling with the challenge of more people needing mental or chemical dependency care than there are beds and space available. The isolation and impact of COVID-19 is making that challenge even more urgent. Commerce recently awarded 22 projects a total of $33.8 million in grants to support 395 new beds and outpatient services that will assist people with a wide variety of behavioral health needs and offer local community placements for people leaving Eastern and Western State hospitals. These grants support Gov. Jay Inslee's five-year plan to modernize and transform Washington's mental health system, with the goal of ending civil patient placements at the state's large hospitals by 2023 in favor of smaller, community-based facilities. LEARN MORE |  Completing homework, filing important forms, visiting with the doctor, ordering groceries and prescriptions – the COVID pandemic has made it abundantly clear that high-speed internet service is the critical lifeline for our most basic daily interactions. New partnerships and emerging technologies are bringing broadband to more rural communities every day, including some notable advances in recent weeks with the Hoh Tribe of Indians and SpaceX's Starlink, ToledoTel and Whidbey Telecom. CONTINUE READING... |  November is Weatherization Month, designed to raise awareness of important benefits that result when homes are weatherized, including improved air quality and increased energy savings. Over its more than 40-year history, Washington state's Weatherization Assistance Program has weatherized more than 7.4 million homes, creating healthy homes and helping lower household energy use and costs. As many people in vulnerable households are sheltering at home during the pandemic, Commerce is helping our partner agencies deliver home weatherization services in a safe and healthy manner. Find out if you qualify for help weatherizing your home. Find your location on the map on our website and click on the closest blue locator to get information on your local weatherization provider. Then, call the local agency near you on the Weatherization Agency List. |  Congratulations to the city of Spokane, Spokane Independent Metro Business Alliance (SIMBA) and the many partners who helped launch Live Local Market. This innovative use of federal Coronavirus Aid, Relief and Economic Security (CARES) Act dollars to promote local small businesses is helping keep the local economy and community strong during COVID-19. LEARN MORE Visit www.coronavirus.wa.gov often for the most current information and resources related to COVID-19 in Washington state. | 
No comments:
Post a Comment