Washington State Business Sentiment Continues to Deteriorate

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The results of the most recent Washington Employers Survey from the Association of Washington Businesses reflect a continued erosion of sentiment among the state’s businesses. According to the survey, conducted April 8-22, 24% of Washington State businesses are considering relocating to another state. That’s an increase of seven percentage points since the last quarterly survey. Similarly, the number of business leaders considering moving their personal residences out of Washington State rose from 44% to 55%. Further, expansion of existing operations in Washington State is looking less likely, with only only 9% of businesses considering expanding in-state compared to 14% in the last survey, while 38% plan to expand their businesses in another state, up from 30% last quarter. Finally, only 7% consider the state’s economy to be strong, down three percentage points from the last survey. Taxes are cited as the number one business challenge by 72% of the respondents, an increase of eight percentage points from the prior survey. 

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