H-1875              _______________________________________________

                                                   HOUSE BILL NO. 1119

                        _______________________________________________

State of Washington                              50th Legislature                              1987 Regular Session

By Representatives Beck, Wineberry, Schoon, Cantwell, Amondson, J. Williams, Moyer, B. Williams, Vekich, Ferguson and Sanders

Read first time 2/27/87 and referred to Committee on Trade & Economic Development.

AN ACT Relating to a long-term economic development strategy; and adding a new section to chapter 43.31 RCW.

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

NEW SECTION. Sec. 1.  A new section is added to chapter 43.31 RCW to read as follows:

          (1) The department shall develop a long-term economic development strategy for the state with the goal of identifying:

          (a) Methods of facilitating economic activity and adjustment policies toward distressed communities and enhancing the employment opportunities of the economically disadvantaged;

          (b) Methods of improving the competitive environment by removing unnecessary regulations and other barriers to the development process; and

          (c) Methods of increasing the effectiveness and coordination of existing economic development programs and agencies, state and local.

          (2) The analysis under subsection (1) of this section shall be aimed at a strategy which:

          (a) Identifies and analyzes key traded businesses and industries to determine their potential for expansion, diversification, and production of high value-added goods;

          (b) Proposes an appropriate state role in new product development, venture capital formation, and research and development;

          (c) Evaluates the performance of existing state economic development efforts for consistency and coordination, as well as for their effect on job creation, and evaluates the long-term benefits to the state of these efforts;

          (d) Proposes, along with other state, local, and private groups, new methods to increase public and private partnerships to foster economic development efforts;

          (e) Develops a long-term economic development strategy based on consensus goals and principles, an in-depth analysis of market opportunities, private sector support and investment, and specific private and public economic development measures which have a substantial potential to increase employment;

          (f) Considers the key components of the state's business climate as they relate to the long-term development strategy including, but not limited to, education and training, energy, existing environmental conditions, research and development, capital, land, transportation, advanced communications, taxes, and regulations with an analysis of their linkages to the key traded sectors;

          (g) Reviews the various economic development policy recommendations made by other agencies or organizations and recommends to the governor and legislature those strategies, policies and programs it deems to be in the best interest of the state;

          (h) Makes specific recommendations for the establishment of public-private cooperative efforts in economic development and state-local cooperative efforts including but not limited to the need for establishing formal working relationships, whether by contract or otherwise, for purposes of engaging in joint, cooperative economic development activities.

          (3) The department shall report on an initial strategy to the governor and the legislature by January 10, 1988, and shall submit revisions to the strategy based on continuing analysis on January 10 of each year thereafter.