Finds that it is in the best interests of the state of Washington to promote private investment in many areas for the purpose of stimulating economic vitality and promoting economic stability.

Recognizes that the state as a whole benefits from investment in public infrastructure because it promotes community and economic development. Public investment stimulates business activity and helps create jobs.

Finds that these activities generate revenue for the state and local governments and that it is in the public interest to invest in these projects through a credit against the state sales and use tax to those local governments that can demonstrate the expected returns.