S-6109.1

SUBSTITUTE SENATE BILL 6656

BySenate Financial Institutions, Economic Development & Trade (originally sponsored by Senators Hasegawa, Mullet, and Frockt)

AN ACT Relating to engaging with key international markets; adding new sections to chapter 43.330 RCW; and making an appropriation.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1. A new section is added to chapter 43.330 RCW to read as follows:

(1) The department shall engage with key international markets to increase trade and investment opportunities for Washington companies and regions.

(2) The department engagement with international markets shall focus on three deliverables:

(a) Increased international business opportunities for Washington businesses, particularly small businesses in rural communities;

(b) Increased investment in Washington by multinational companies in communities statewide; and

(c) The maintenance and development of new partnerships with, but not limited to, international governments, businesses and organizations, focusing on the innovative industries of tomorrow, including clean technology (such as battery storage, renewables, and electrified transportation), aerospace, agriculture, information, communication technology, advanced manufacturing, and life sciences.

(3) The department shall establish representation in key international markets that include, but are not limited to: Japan, Taiwan, China, South Korea, United Kingdom, France, Germany, Canada, Vietnam, India, United Arab Emirates, and Mexico.

NEW SECTION.  Sec. 2. A new section is added to chapter 43.330 RCW to read as follows:

By December 1st of each even-numbered year, the department must transmit a report summarizing outcomes under section 1 of this act and be available to present an update on global trade and exports to the appropriate committees of the legislature. The report must include the following information and metrics resulting from the department's engagement with international markets:

(1) An overview of activities and contracts funded through appropriated funds;

(2) Additional funding invested in Washington companies;

(3) The number of jobs created in Washington;

(4) The number of partnerships established and maintained by the department with international governments, businesses, and organizations; and

(5) The international markets that the department has established representation in.

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