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The region is home to two of the top research universities in the nation – the University of Washington and Washington State University – which drive millions of dollars in research funding into the region. In addition, the region’s private sector companies continue to innovate and grow due to significant investments in research and development. The natural innovation involved in the region’s entrepreneurship and startup ecosystem also helps build new companies and industries. These activities help maintain the continued competitiveness of the region’s industries as well as supporting high wage jobs. The region must continue to sustain the conditions that drive this research and innovation.
Challenges and Opportunities
The region has identified the following key issues, opportunities, and challenges in sustaining the region’s economy:
Top research universities drive innovation in the region
The region is home to two top research universities in the nation – the University of Washington and Washington State University – to help drive the region’s innovation economy.
A world leader in research and development
The region is a national leader in private and public sector research and development, supporting higher wage jobs and additional economic activity.
Regional institutions support a robust entrepreneurship and startup ecosystem
A strong environment of entrepreneurship makes the regional economy more diversified and resilient, creating new markets and generating economic opportunity.
Strategic Response
The region has identified the following strategic focus areas for addressing identified challenges and opportunities:
Sustain and evolve the conditions necessary for innovation
The region must sustain the conditions that have enabled its history of innovation in business, institutions, and government along with evolving to create more areas of cross-sector collaboration.
Identified near-term actions:
Encourage investment in higher education and research institutions as a tool to maintain the region’s strength in innovation.
Support collaborations between industry and universities to drive innovation in both the public and private sectors.
Support the Cascadia Innovation Corridor and the development of ultra-high-speed rail connecting the region to Portland, Oregon and Vancouver, B.C.
Promote the region’s start-up economy and entrepreneurial spirit through development of entrepreneurial resources and mentorship programs.
Restore R&D tax credits to support broad-based economic development across many sectors of the economy, including clean technology, aerospace, life sciences and global health, and maritime.
The region is home to two of the top research universities in the nation – the University of Washington and Washington State University – which drive millions of dollars in research funding into the region. In addition, the region’s private sector companies continue to innovate and grow due to significant investments in research and development. The natural innovation involved in the region’s entrepreneurship and startup ecosystem also helps build new companies and industries. These activities help maintain the continued competitiveness of the region’s industries as well as supporting high wage jobs. The region must continue to sustain the conditions that drive this research and innovation.
Challenges and Opportunities
The region has identified the following key issues, opportunities, and challenges in sustaining the region’s economy:
Top research universities drive innovation in the region
The region is home to two top research universities in the nation – the University of Washington and Washington State University – to help drive the region’s innovation economy.
A world leader in research and development
The region is a national leader in private and public sector research and development, supporting higher wage jobs and additional economic activity.
Regional institutions support a robust entrepreneurship and startup ecosystem
A strong environment of entrepreneurship makes the regional economy more diversified and resilient, creating new markets and generating economic opportunity.
Strategic Response
The region has identified the following strategic focus areas for addressing identified challenges and opportunities:
Sustain and evolve the conditions necessary for innovation
The region must sustain the conditions that have enabled its history of innovation in business, institutions, and government along with evolving to create more areas of cross-sector collaboration.
Identified near-term actions:
Encourage investment in higher education and research institutions as a tool to maintain the region’s strength in innovation.
Support collaborations between industry and universities to drive innovation in both the public and private sectors.
Support the Cascadia Innovation Corridor and the development of ultra-high-speed rail connecting the region to Portland, Oregon and Vancouver, B.C.
Promote the region’s start-up economy and entrepreneurial spirit through development of entrepreneurial resources and mentorship programs.
Restore R&D tax credits to support broad-based economic development across many sectors of the economy, including clean technology, aerospace, life sciences and global health, and maritime.
