Research

ECOnorthwest prepared this report with support from the guidance and input of several partners, including members, staff, and leadership of the NAIOP Washington State, the Commercial Real Estate Development Association. Most notably we are appreciative of the involvement and input of Carter Nelson, Danielle Duvall, NAIOPWA Staff, and Drew Zaborowski of Bear Creek Real Estate Partners. Other firms, agencies, and staff contributed to other research that this report relied upon, specifically Hubbell Communications and Danny Jackson of Pietromonaco Jackson Properties. This work was financially supported by NAIOP Washington State and its generous Government Affairs funders. 

That assistance notwithstanding, ECOnorthwest is responsible for the content of this report. The staff at ECOnorthwest prepared this report based on their general knowledge of the economics of recreation, amenities, and regional economies. ECOnorthwest staff contributing to this study included Morgan Shook, Nate Trull, Ryan Knapp, Sam Schroeder,  

Ella Marrero, Kelsey Johnson, Marty Marquis, and Kath Nester. ECOnorthwest also relied on information derived from government agencies, private statistical services, the reports of others, interviews of individuals, or other sources believed to be reliable. ECOnorthwest has not independently verified the accuracy of all such information and makes no representation regarding its accuracy or completeness. Any statements nonfactual in nature constitute the authors’ current opinions, which may change as more information becomes available. 

Executive Summary
Industrial real estate is the physical infrastructure that allows Washington’s economy to function. The buildings that produce, store, and move goods are not remnants of an “old economy”, they are the operating platform for clean tech, aerospace, food systems, logistics, e-commerce, and advanced manufacturing. Together, these facilities underpin over one quarter of Washington’s GDP, support more than one million jobs, and generate billions in public revenue every year.

Washington’s Growth Management Act (GMA) establishes statewide goals that emphasize directing growth to appropriate urban areas, reducing sprawl, coordinating land use and transportation, and supporting economic development through local comprehensive plans. In port-centered jurisdictions, RCW 36.70A.085 goes further by requiring a port element that defines and protects core industrial and port functions, ensures efficient freight access, and minimizes land-use conflicts.

Together, these statutes point to a practical conclusion: industrial real estate is a form of economic infrastructure that must be planned, protected, and connected—because it is the physical space where manufacturing, logistics, warehousing, and freight-dependent businesses operate. When industrial sites are well-located near ports, freight corridors, and workforce centers—and when plans and regulations allow them to be built and modernized— Washington can advance the GMA’s goals by supporting trade competitiveness, sustaining family-wage jobs, and making efficient use of public infrastructure investments.

This report demonstrates that industrial real estate is not simply a land-use category—it is strategic economic infrastructure. Its value to Washington can be understood through five core reasons.

Read the Economic Impact Study here.