Washington State: Grim Business Survey

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The most recent quarterly survey from the Association of Washington Businesses indicates a continuing deterioration in outlook of Washington State businesses, with 34% of respondents expecting the state to enter into recession within the next year, and only 9% rating the state’s economy as strong. The number of businesses planning to leave the state increased to 17% from 9% a year ago, and 44% of business leaders indicated that that they were considering moving their personal residences out of state. Additionally, only 14% of respondents planned on expanding their businesses in the state, while 30% said they anticipated expanding in another state. Much of this erosion in confidence stems from the tax package passed by the legislature last year, as 64% “rate the overall tax burden as their most important business challenge”.


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