In preparation for the upcoming legislative session, AWC helped establish the TIF for Jobs Coalition which advocates for new, stable funding sources for communities using Tax Increment Financing (TIF).
The TIF for Jobs Coalition is made up of other associations and advocacy groups such as the Washington Ports Association, the Washington Economic Development Association (WEDA), and the
Washington Chapter of the Commercial Real Estate Development Association. The coalition is advocating for the adoption of a statewide TIF program to promote economic development and improve infrastructure in communities around the state.
Tax Increment Financing is an economic development tool that captures a property’s appreciated value by using its increased property taxes to finance infrastructure improvements that benefit a designated area. Local jurisdictions that have utilized
TIF reported improved public infrastructure, increased economic activity, and local job growth.
Unfortunately, Washington state is only one of two states that do not allow the use of TIF. Previous attempts to enact TIF programs in Washington were struck down due to constitutional constraints.
The TIF for Jobs Coalition is taking a new approach to enacting TIF in Washington. The Coalition’s approach to TIF allows development to pay for much-needed public infrastructure without impacting the state’s budget. We are excited to work
with Rep. Davina Duerr (D–Bothell) to introduce legislation for 2021.
Read our TIF legislative fact sheet for more details.
The coalition will host a Legislative Advocacy Campaign virtual kick off on Monday, December 14 at 9 am.