Prosperity Summer Briefings

The Prosperity Partnership has been hard at work addressing the second year action items in the Regional Economic Strategy. From legislative success in expanding access to college education to ongoing efforts with aerospace, clean technology, arts & culture, housing affordability and minority economic development, the Partnership has made tangible progress toward implementing the strategy. If your organization would like to hear more about what the Partnership is doing to further the region's economy, please take a moment to request a summer briefing. The presentation generally lasts between 20-30 minutes.

To schedule a briefing, contact Eric Schinfeld, Associate Economic Policy Analyst, 206-971-3053, eschinfeld@psrc.org with potential dates over the next 2-3 months.

Report on the Distinctive Characteristics of Minority Owned Small Businesses in Washington

Many members of the Minority Economic Development Working Group has highlighted the need for better understanding of the number, size and composition of Minority Business Owners in Washington, as well as the unique challenges they face. To help address this problem, the Prosperity Partnership worked with Seattle University Professor Paul Sommers on an Economic Development Administration grant to perform a statewide assessment of minority businesses. The assessment focused on identifying MBOs' specific needs and barriers to success. The report is now available online at prosperitypartnership.org/foundation/index.htm.

Washington Technology Center Funding Proposals Due October 18

Washington Technology Center awards around $1 million annually to Washington-based research teams in an effort to help transition great ideas out of the laboratory and into the marketplace.

This funding can pay up to 80 percent of the cost of research projects -- allowing companies to channel their capital to other business growth needs. Project teams are eligible to receive up to $100,000 for initial proof-of-concept projects and up to $300,000 total for multi-phase projects.

To be considered for the fall 2007 round of grants, interested parties should complete a Notice of Intent form by September 13, 2007. Applications are due on October 18, 2007. Winners are notified in December and projects begin January 1, 2008. More information and applications materials are available online at www.watechcenter.org.

Click here to see some of our Partner’s Events

If your organization is not currently a Partner and would like to become one, please contact Eric Schinfeld, 206-971-3053, eschinfeld@psrc.org.

Prosperity Partnership E-Newsletter
August 27, 2007

  • Don't Miss Out on the Next Roundtable Field Meeting - Kitsap Registration Closes August 31st
  • Business Closures Report: Closures Part of Region's Economic Vitality
  • Save the Date: Prosperity Partnership 3rd Annual Luncheon on Tap for November 1 at the Westin Hotel

    Don't Miss Out on the Next Roundtable Field Meeting - Kitsap Registration Closes August 31st

    The Kitsap Roundtable Field Meeting will take place on Friday, September 14. Building on the great success of the first two roundtable field meetings, this tour will highlight prominent projects in Kitsap County. Tour stops include the Conference Center at Bremerton Harborside, Evergreen Park, College Place, Kiana Lodge, and IslandWood. Discussion topics will range from Bremerton's revitalization to the Kitsap SEED project and the economic impact of Tribes, as well as a special opportunity to learn more about the military cluster at the Kitsap Bangor Naval Base.

    Attendees will meet at the Puget Sound Regional Council at 7 a.m. to board the ferry, and will be returned by 4:30 p.m. The cost to attend is $30, and includes lunch.

    Register online at prosperitypartnership.org. For more information, contact Eric Schinfeld, Associate Economic Policy Analyst, 206-971-3053, eschinfeld@psrc.org.

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    Business Closures Report: Closures Part of Region's Economic Vitality

    Washington has a high rate of business closures. In 2004, Washington had the highest rate of firm terminations at 22.8 percent. Initially quite concerned by this statistic, the Partnership worked with Jason Thibadeau, a Master of Public Administration student at the University of Washington's Evans School, to conduct further research on this topic.

    Mr. Thibedeau found that most jobs are created by expansions rather than the creation of new businesses. He also discovered that closures and churn are necessary in a healthy economy and that closings do not always have a negative impact on employment. The Washington Employment Security Department reports that 20 percent of closures do not result in employment loss, often employees are absorbed by the new employer. Focusing too closely on the measurement of startups and closures disregards important business activities related to expansions and contractions. View Mr. Thibedeau's presentation online at prosperitypartnership.org/news/newsletter/thibedeau.pdf.

    For more information, contact Eric Schinfeld, Associate Economic Policy Analyst, 206-971-3053, eschinfeld@psrc.org.

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    Save the Date: Prosperity Partnership 3rd Annual Luncheon on Tap for November 1 at the Westin Hotel

    The Fall Luncheon is the Prosperity Partnership's centerpiece event, attracting close to 1,000 business, government and community leaders each year to celebrate our coalition's accomplishments and prepare for the year ahead.

    For more information, contact Eric Schinfeld, Associate Economic Policy Analyst, 206-971-3053, eschinfeld@psrc.org.

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