2024 was a year marked by incredible milestones for the Tacoma-Pierce County Chamber and our local business community! 2024 was a year of impact, progress, and innovation for the Tacoma-Pierce County Chamber and the South Sound business community. From advocating for businesses to fostering leadership and supporting creative entrepreneurs, we accomplished so much together. Here are our top 10 highlights from 2024: 1. 140 Years of Serving Our Business Community This year marked an incredible milestone--140 years of the Chamber being the unifying voice for businesses in Tacoma-Pierce County. For over a century, we have championed economic growth, supported leaders, and strengthened our region. All the while, the Chamber has continuously evolved to meet the changing needs of the Tacoma-Pierce County business community. Thank you for being part of this legacy! 2. Distributing $983K in Microloans for Small Businesses  Kiva recipient, Lanaya Tayler, owner of Lanaya Tayler Hair Studio in Puyallup, Wash. Access to capital is a major challenge for small businesses, but we made a difference. Through partnerships like Kiva, the Chamber facilitated $983,000 (and counting) in 0% interest microloans to help small businesses grow and thrive. These loans fill a critical funding gap for emerging entrepreneurs in Pierce County that can help make businesses, rather than break them. 3. Celebrating Success in the Pierce County Business Accelerator  PCBA cohort 19 at their graduation in November 2024. The Pierce County Business Accelerator (PCBA) program continued to empower over 450 BIPOC, veteran, and women-owned businesses. By providing coaching, training, and technical resources, the PCBA fostered innovation and opened doors to wealth-building opportunities for diverse business owners. It is a travesty if you missed the PCBA Showcase this year as it was stupendous; filled with amazing food, wonderful business ideas, and business owners who embody the spirit of the South Sound in their work. 4. The Good Neighbor Village Breaks Ground  Pierce County Executive Bruce Dammeier joins in on helping turn the dirt that will become the Good Neighbor Village. Inspired by solutions explored during our Aspire Intercity Leadership Conference, the Good Neighbor Village project is now underway. By 2030, it will provide permanent housing and supportive care to 257 chronically homeless residents in Pierce County, restoring dignity and stability to our community members. 5. Spaceworks Tacoma: Empowering Creatives  Nori Kimura after completing the Skybridge mural between the Pacific Plaza parking garage and Theater on the Square in downtown Tacoma. Spaceworks Tacoma continued to elevate our region’s creative economy by connecting creative entrepreneurs and artists to economic opportunity. This year, the program invested $41,860 in local artists, delivered training to creative entrepreneurs, and facilitated rotating public art installations across Tacoma. Spaceworks is transforming commercial spaces and creating new opportunities for artists and creative entrepreneurs to thrive. 6. Record-Breaking Events & Community Engagement  Over 475 attendees joined the Chamber in January at the Horizons Economic Forecast to hear from local and regional business leaders on the 2024 Pierce County economy. Our events reached new heights this year, welcoming 4,936 attendees across meetings, forums, and signature events like the Horizons Economic Forecast and Happy Hour Business Expo. These gatherings fostered connections, celebrated successes, and inspired collaboration among local leaders. 7. Advocacy That Makes an Impact  Attendees of the Chamber’s 2024 Legislative Advocacy Day visit Olympia, Wash. From left to right: Curt Kohlwes, Director of Government Relations at University of Washington Tacoma; Zach Correia, Government Relations Analyst at MultiCare Health Systems; Jessica Johnson, Director of Court House Square; Andrea H. Reay, President & CEO at Tacoma-Pierce County Chamber; and Senator Chris Gildon, Washington’s 25th Legislative District. The Chamber led advocacy efforts to address critical business challenges and drive policy change:
These wins helped create a stronger, more resilient business environment for the South Sound. 8. Launch of the Tacoma Manufacturing Incubator  The Chamber and the Manufacturing Industrial Council for the South Sound partnered with local businesses to establish the Tacoma Manufacturing Incubator. The program is aligned with Chambers commitment to support entrepreneurship and the State’s goal to double manufacturing within a decade. The Tacoma Manufacturing Incubator will create scalable manufacturing spaces, support capacity building for existing businesses, and develop a manufacturing centered curriculum designed to empower manufacturing startups with a pilot cohort scheduled for 2025. The launch of the incubator is funded in part by the Washington State Department of Commerce and the City of Tacoma. 9. World Trade Center Tacoma’s Global Impact  (L to R) Michael Fowler, executive director at the World Trade Center Tacoma; David Graybill, Board Chair for World Trade Center Tacoma; Raymond Cheung, president, SeaTac Packaging Manufacturing Corp.; and Betty Capestany, director, economic development at Pierce County; celebrate SeaTac Packaging Manufacturing Corp.’s win at the 2024 World Trade Center Tacoma Globe Awards. The World Trade Center Tacoma connected local businesses to global opportunities through international trade missions and educational programs. This year, businesses benefited from partnerships forged in East Asia, helping the South Sound remain competitive on the global stage. World Trade Center Tacoma also conducted its annual flagship event, the World Trade Center Tacoma Globe Awards, in September, which recognized excellence in international trade. 10. Developing Future Leaders  Graduates of the 2024 Business Leadership Academy celebrated their achievement at a luncheon in November. We continued investing in leadership development through programs like the Business Leadership Academy and the foundation of the Candidates Academy. By equipping future leaders with skills, mentorship, and connections, we are building a strong foundation for the next generation of business and community leaders. Looking Ahead to 2025  As we celebrate these milestones, we are excited for what lies ahead. Together, we will continue to strengthen our economy, foster innovation, and empower leaders in the South Sound. Thank you for being part of this incredible journey—cheers to a bright year ahead!
 The Chamber’s annual Horizons Economic Forecast event took place on Wednesday, January 31, 2024, and saw over 400 guests in attendance! The program featured expert economists, industry executives, and local business leaders to candidly discuss the economic outlook of 2024, as well as offer insights and advice to business owners. Some of the top topics on everyone’s mind this year were workforce, interest rates, and community investments. The event speakers covered these topics and more through presentations and live discussions. Take a look at the top 10 takeaways from this year’s Horizons Economic Forecast: 1. Pierce County: A Hub of Investment & Growth The program commenced with an address from Bruce Dammeier, Pierce County Executive, during which he underscored Pierce County's reputation as an attractive destination for both investment and employment opportunities. Highlighting two notable investments within the county, encompassing over seven million square feet of leased property, he emphasized the success of these ventures, with one property achieving full occupancy and the other surpassing the 70 percent mark. This emphasizes Pierce County's enduring appeal as a robust investment hub and vibrant community that continues to attract new residents.
3. Legislative Initiatives Aimed at Tackling Economic Challenges Congresswoman Marilyn Strickland of Washington's 10th District began her address by acknowledging the significant developments witnessed by the South Sound and Washington State at large over the past year. She further acknowledged widespread concerns voiced regarding labor shortages, supply chain disruptions, infrastructure needs, and the evolving marketplace dynamics necessitating continuous adaptation. In response to these challenges, she highlighted key federal legislative initiatives aimed at addressing these pressing issues:
While acknowledging the positive strides made through these legislative efforts, Congresswoman Strickland emphasized the ongoing commitment to further legislative action, promote continuous progress, and advocacy to address emerging challenges.
6. Collaboration & Progress in the South Sound Congressman Derek Kilmer of Washington’s 6th District delivered a memorable address focusing on the power of community collaboration and shared progress in the South Sound region. He highlighted a few significant achievements, including the $54 million investment in the Husky Terminal at the Port of Tacoma, enhancing the region's global economic standing. He also emphasized the tangible impact of federal investments in areas such as affordable housing through the Tacoma Housing Authority and expanded services at the Tacoma Rescue Mission, addressing crucial needs ranging from addiction recovery to workforce development. Furthermore, Kilmer celebrated the secured funding for the preservation and enhancement of Puget Sound, a vital environmental and economic resource for the region. Concluding his address, he urged continued innovation, partnership, and a steadfast commitment to preserving the spirit of collaboration, as he believes that through collective action, there are boundless opportunities for progress and prosperity.
8. Housing Activity to Decline in 2024 Dr. Johnson also delved into the analysis of housing activity outlined in the PCEI Report. Throughout 2023, housing activity notably underperformed initial projections, with new listings and closed sales experiencing declines of 30 percent and 27 percent, respectively. Moreover, the Pierce County Housing Affordability Index witnessed a substantial 28.7 percent decrease by the conclusion of 2023. Looking ahead to 2024, the housing market is expected to maintain its subdued trajectory, contingent upon potential reductions in mortgage rates. Projections indicate that the Pierce County Housing Activity Index is poised to decline by 9.5 percent by the culmination of 2024.
10. JBLM Addresses Recruitment Challenges
JBLM serves as a significant economic driver within the South Sound region and Washington State at large. As part of the local panel, Lt. Col. Dane Franta of the 62nd Airlift Wing at JBLM provided invaluable insights into the military community's resilience amidst global uncertainties and ongoing challenges in labor and recruitment. A key emphasis by Lt. Col. Franta was the revitalization of community outreach initiatives, recognizing the importance of re-establishing connections lost during COVID. JBLM is actively engaged in attending hiring fairs, organizing air shows, and participating in Armed Forces Days to reinforce their commitment to engagement and recruitment efforts. Remarkably, statistics for 2023 indicate that JBLM currently hosts the smallest military personnel presence in its history. Consequently, recruitment efforts have been intensified to meet operational requirements. As part of their recruitment messaging, JBLM fosters a sense of camaraderie and shared purpose, emphasizing the unique benefits of a military career path.  On December 6, the Chamber held the Annual Public Officials Holiday Reception, an event where the public and local politicians can meet and network in a more casual environment. The event was held at the Tacoma Art Museum, and was attended by 375+ elected officials, Chamber members, along with non-Chamber members. Several food stations were provided from Carr’s Restaurant and Catering, offering appetizers from crabcakes to crackers and a wide selection of cheeses. Music was played by Violinist Holly Eckert, and Accordion-Master Toby Hanson.  Halfway through the night, attendees shared a toast to the amazing work that our elected officials do; Andrea Reay, President/CEO of the Tacoma-Pierce County, and Jon Rossman Owner of Chuckals Office Products, and Chair of the Tacoma-Pierce County Board of Directors, did the honors. Overlooking a lit-up Downtown Tacoma, the Dome in the distance, and being under the twinkling fairy lights in the foyer of the museum, the night literally was glowing. View event photos taken by Sage + Soul Photography: bit.ly/2023-POHR-Gallery. In case you missed it, be sure to attend the Horizons Economic Forecast on January 31st. Learn more and register here.
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