Sen. Mark Mullet (D-Issaquah) will be named an Economic Development Champion during a reception tonight at the Washington Economic Development Association (WEDA) Winter Conference.
“Economic development is just another way of saying it’s important that our communities are healthy and thriving,” Mullet said. “All the little things we do to promote and further prosperity in local communities add up to make a big, big difference in the everyday quality of life in households across our state.”
Suzanne Dale Estey, WEDA’s executive director, said her organization wanted to recognize Mullet’s longtime leadership and support for efforts to grow jobs and increase economic vitality, citing in particular his work to enable Tax Increment Financing (TIF) in Washington state. TIF allows local governments to fund infrastructure projects by using a portion of the higher property values—and tax revenue—created by that same project. Bonding against that future revenue pays for the cost of infrastructure needed for the development, attracting employers and jobs immediately.
“Sen. Mullet was a pivotal leader in getting the TIF for Jobs bill signed into law, a significant success for our state, and has been a champion for economic development and job growth every day,” Estey said. “Sen. Mullet has also championed WEDA’s funding requests, securing a historic restoration in regional economic development funding, global trade funding, and he is currently working hard to secure funding for technical assistance for small businesses.”