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2012 Legislative Highlight: Education Funding
On April 11, the Washington State Legislature adjourned the second special session of 2012, adopting a supplemental budget for the second year of the current biennium. The final budget that was passed maintains current funding levels for K-12 and higher education, the first time since the 2007-2009 biennium that this area did not receive cuts.
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Economic Highlight: Maritime
The Puget Sound maritime cluster employs nearly 17,000 people in the region. That's a concentration of maritime jobs that is more than 3 times that of the U.S. as a whole. A 2009 economic impact study of the maritime cluster in King County commissioned by the City of Seattle's Office of Economic Development demonstrated how vital this sector is to the regional economy. According to this report, maritime businesses in King County alone generated over $5.6 billion in output in 2007. The regional maritime cluster includes a variety of industrial and service related activities, including commercial fishing, seafood processing, passenger transportation, ship and boat building, marine support industries, deep and shallow draft water transportation, and public sector operations.
Recent Amendments to the American Fisheries Act and other federal, state and regional policies are providing new opportunities for Bering Sea commercial fishing vessel owners to rebuild or replace aging vessels. These changes are creating an increased demand for shipbuilding capacity. Investments in local shipbuilding capacity would allow us to take advantage of this vessel replacement and rebuild market. This economic growth would be good for the maritime industry and, by extension, good for the Puget Sound region as a whole.
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Maritime Industry Cluster Tour - June 20
The Prosperity Partnership Maritime Industry Cluster Tour is an opportunity to learn more about this varied and important industry in the region. We will take to the road and the water to hear from and see regional fishing companies, ship operators, vessel builders, and ports. The cost to attend this all day tour is $65, and includes lunch. Click here to register.
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