Todd Newton shakes hands on a multi-million-dollar order at the Dubai Air Show.
Washington Helps Your Business Take Flight
LOWERING THE UP-FRONT COSTS OF YOUR AEROSPACE BUSINESS
To get your business or a new project off the ground, there is always an inevitable an up-front investment. The Washington State Department of Commerce Office of Economic Development and Competitiveness( OEDC) offers an array of ways to help lower these up-front costs, so your aerospace company is well-equipped for success.
Joanna Boatwright
Washington State Department of Commerce, Aerospace International Trade Specialist
WASHINGTON STATE DEPT. OF COMMERCE
“ Commerce is committed to the aerospace industry in our state, and incentives, grants, and loans reflect that commitment,” said Grace Yoo, assistant director for OEDC.“ Washington aerospace is number one in the nation because of how it innovates, adapts, and delivers high quality service, whatever market changes exist. We will continue investing in industries like aerospace because it strengthens communities. That’ s our mission.”
Grace Yoo began her leadership of OEDC in fall of 2024, leading the division’ s work to translate Washington’ s global competitiveness into local impact, creating jobs and supporting small businesses across the state’ s 39 counties. Yoo has made it a priority to recognize, and is a strong believer in, the capability of economic empowerment to unlock better outcomes in the health and safety of our communities.
Fueling business growth
38 NORTHWEST AEROSPACE NEWS
Help to offset business investments translates into job creation and community reinvestment. This is especially true for those aerospace companies located in rural Washington traversing the I-90 corridor. These state incentives range from tax credits to exemptions or deferrals for specific activities, such as adding new equipment. They also include grants and loans specifically for very small businesses in underbanked communities, like those in rural Washington.