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NAIOPWA 2023 State Legislature Update - Jan 13

NAIOP Washington State 2023 Legislative Report - Week 1

Greg Hanon, Communico

The 2023 session of the Washington State Legislature convened on January 9 for a 105-day legislative session. This is the first since 2020 to completely return to Olympia for both committee hearings as well as floor action.  One addition to the legislative process is the complete integration of hybrid legislative hearings allowing for both in person testimony as well as remote testimony allowing individuals who cannot make the trip to Olympia to participate in hearings from around the state.

Per tradition, the first few days were dedicated to the organization of the legislature, the swearing in of public officials, as well as a state of the state address from Governor Inslee in which he presented his priorities for the legislative session.  Governor Inslee outlined several policies including significant increases in spending on housing, homelessness, behavioral health, and education.  He also advanced policies on gun control and abortion rights.

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WA Real Estate Development Added $8.9B to State Economy in 2020

Washington is the #9 state in the U.S. for contributions to state GDP created by office real estate development. Overall, construction and development of office, industrial, warehouse and retail created and supported 54,983 related jobs and contributing $8.9 billion to the state’s economy in 2020 (the most recent data available).

The data is from “Economic Impacts of Commercial Real Estate, 2021 U.S. Edition,” published annually by the NAIOP Research Foundation. 

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