Requires the economic development commission to: (1) Provide the governor and legislature with policy analysis, strategic planning, program evaluation, and monitoring of the state's economic development system;

(2) Consult, collaborate, and coordinate with other state agencies and local organizations when developing plans, inventories, and assessments to avoid duplication of effort; and

(3) Use the small agency client services within the office of financial management for accounting, budgeting, and payroll services.

Authorizes the economic development commission to accept gifts, grants, donations, sponsorships, or contributions from any federal, state, or local governmental agency or program or any private source and expend the same for any purpose consistent with the provisions of chapter 43.162 RCW (economic development commission).

Prohibits the economic development commission, in order to maintain its leadership and concentration on strategic planning, coordination, and assessment of the economic development system as a whole, from taking an administrative role in the delivery of services.

Creates the Washington state economic development commission fund.