washington business
Merger of Columbia , Umpqua Banks is Finalized
State Commerce Department Welcomes New Director Mike Fong
Tacoma-based Columbia Banking Systems Inc . and Portland-based Umpqua Holdings Corp . completed their merger in early March . The combined bank has more than $ 50 billion in assets .
The new holding company will operate as Columbia Banking System Inc . and will remain based in Tacoma . The bank will operate as Umpqua Bank and remain based in Portland . Clint Stein , former CEO of Columbia , is now CEO of the combined company . Cort O ’ Haver , formerly Umpqua ’ s president and CEO , is now the Columbia ’ s executive board chair .
Drew Shirk Named New Director of State Revenue Department
Michael Fong , new director of the Department of Commerce , talks with AWB President Kris Johnson at the 2023 Spring Meeting .
Mike Fong took over as the new director of the Washington State Department of Commerce in early May . He replaced previous director Lisa Brown , who stepped down from the position earlier this year . Fong is a Spokane native who served as the regional administrator for the U . S . Small Business Administration ’ s operations in the Pacific Northwest .
Fong met with AWB ’ s board of directors at AWB ’ s 2023 Spring Meeting . He told board members he is looking forward to working with the 21-member Manufacturing Council to advance Washington ’ s goal of doubling manufacturing , both by growing the existing manufacturing base and being on the forefront of emerging sectors .
He said Commerce is also committed to addressing the housing shortage , one of the top issues for the state and employers .
Drew Shirk speaks to AWB ’ s Lobby Lunch in 2019 . In June he ’ ll take over leadership of the Department of Revenue .
Gov . Jay Inslee appointed Drew Shirk the next director of the Washington State Department of Revenue , starting June 16 . Shirk had served as the executive director of legislative affairs for the governor ’ s office since 2017 .
Shirk has spent more than three decades in public service . He began his career with the revenue department ’ s compliance division in 1989 and served in a number of leadership positions in tax policy before joining the governor ’ s office .
He will replace acting director John Ryser , who has held the post since Vikki Smith retired in 2022 .
Boeing Doubles Commitment to Sustainable Aviation Fuel
Boeing plans to buy 5.6 million gallons of sustainable aviation fuel ( SAF ) this year , doubling the amount it purchased in 2022 .
Finnish refiner Neste will supply the SAF blended with conventional fuel at a 30 / 70 ratio . Neste ’ s SAF is derived from 100 % renewable waste and residue raw materials , such as cooking oil and animal waste fat . The purchase will power Boeing ’ s commercial operations and represents 25 % of Boeing ’ s fuel needs last year .
“ We are demonstrating our commitment to reduce our carbon footprint and catalyze the SAF industry ,” said Sheila Remes , Boeing vice president of Environmental Sustainability . spring 2023 17