Director's Update - January 2021

Addressing an uneven recovery; 10-year Plan to Dismantle Poverty; Maritime Innovation Accelerator launches new startups

Having trouble viewing this email? View it online Director's Update Message from Lisa Brown Beyond public health measures, the pandemic is changing consumer choices and behaviors, further challenging our economic recovery. Hidden impacts fueling uneven economic recovery As we've seen throughout this historic economic downturn, some industries and communities continue to experience the impact of the pandemic very differently. Some impacts are clear as public health measures have required prolonged closures or curtailment of restaurants, bars, gyms and gathering places. Others are less obvious, but no less challenging. As we learn, work and spend more time at home, businesses that remain open and fully operational are also struggling. Consumer behavior has significantly changed, out of necessity and choice. We're not driving, ride-sharing or taking public transportation as much. Significant numbers of people continue working from home meaning fewer stops to coffee shops, lunch spots and dry-cleaners. Even where it is possible to continue to patronize restaurants, retailers, salons and other establishments, some no longer have the financial means to do so, while others will choose to limit activities until they feel safer. Our Economic Recovery Dashboard shows a more than 14% decrease statewide in time spent out of the home during the day. This is up from the 25% drop following the initial lockdown last March, but still significantly lower than normal. The trickle down impact of that lost activity is real, and the possibility of a "K-shaped" recovery in which some industries and communities are left behind will have long-term consequences for all of us. continue reading State task force report details policies to stabilize and sustain child care industry and increase affordability for families Lack of affordable child care is keeping more than 133,000 potential workers out of the workforce Washington state's economy is challenged by persistent gaps in availability of affordable child care. According to the Washington Child Care Collaborative Task Force, lack of access to affordable child care keeps over 133,000 potential workers out of Washington's labor force. The effects ripple through Washington's economy, resulting in an estimated $14.7 billion less in personal earnings, $56.8 billion less in business output, $34.8 billion lower Gross State Product, and over $1 billion in lost tax revenue annually. READ MORE A Plan to Meet the Moment: The 10-year Plan to Dismantle Poverty in Washington Gov. Inslee's Poverty Reduction Work Group details 8 strategies, 60 recommendations for action Prior to the current economic downturn, there were 1.75 million Washingtonians – including over 500,000 children – with incomes below 200% of the federal poverty level ($43,440 for a family of three) – enough to fill 25 stadiums the size of Lumen Field. Rising unemployment in the wake of COVID-19 is making it harder for even more people to make ends meet, as well as deepening the experience of poverty for those disproportionately affected. When so many people fall through the cracks of an unstable and inherently unequal system, we fail to live up to our full potential as a state. Gov. Jay Inslee's Poverty Reduction Work Group this month released a 10-Year Plan to meet this challenging moment, and lay a foundation for a just and equitable future in which all Washingtonians can reach their full potential. The 22-member work group grounded the process of developing the plan in two main principles: (1) a commitment to achieving racial equity; and (2) following the leadership and expertise of people most impacted by poverty. Read more State Energy Strategy provides roadmap to net zero emissions by 2050 Avoiding the worst impacts of climate change requires a comprehensive commitment to decreasing greenhouse gas emissions. Washington launched initial efforts with legislation to require clean electricity and efficient buildings. Much more is required in the near term to realize the transition to a clean economy. The path forward requires investment and action and promises a stronger and more just economy. The 2021 State Energy Strategy offers a blueprint for how, by 2050, we can nearly eliminate the use of fossil fuels while continuing to maintain and grow a prosperous economy. Explore the 2021 State Energy Strategy Watch the video press briefing Read Investigate West's story: "After Climate-Protection Drift and Despair,  A Blueprint for Success Emerges in Cascadia" Maritime Innovation Accelerator launches new cohort of 11 business startups Commerce joined Maritime Blue, a statewide organization of maritime industry stakeholders, and the Port of Seattle for a special virtual event this week to  introduce the second group of Maritime Innovation Accelerator start-up companies.  The goal of this program is to spur new technology and investment in one of Washington's most enduring and important industry sectors - maritime accounts for over $37 billion in economic impact annually, including some 69,500 jobs.  Now is a crucial time to support and invest in the innovation clusters and clean technologies that will strengthen Washington's economy and create good jobs for the future in communities all over the state. The Washington Maritime Blue Innovation Accelerator is a prime example of our commitment to resilience, innovation and equity in our key industry sectors. Meet the companies and learn more  Stay connected About Commerce Commerce works with local governments, businesses, community-based organizations and tribes to strengthen communities. The department's diverse portfolio of more than 100 programs and effective public and private partnerships promote sustainable community and economic development to help all Washingtonians thrive. For more information, visit http://www.commerce.wa.gov. For information on locating or expanding a business in Washington, visit choosewashingtonstate.com. Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please visit subscriberhelp.govdelivery.com. This service is provided to you at no charge by Washington Department of Commerce. Subscribe | Manage Preferences | Unsubscribe All | Help | Contact us

This email was sent to ooseims.archieves@blogger.com using GovDelivery Communications Cloud on behalf of: Washington State Department of Commerce · 1011 Plum Street SE, P.O. Box 42525 · Olympia, WA 98504-2525