 The Tacoma-Pierce County Chamber (TPCC) held its annual Horizons Economic Forecast at the Greater Tacoma Convention Center in downtown Tacoma on Wednesday, January 29, 2025. Rising with the sun were more than 400 people in attendance. The agenda was set for attendees to learn more about the 2025 economic projections nationally and for Pierce County. Attendees began the morning by networking during Coffee Connections sponsored by Commencement Bank; tehaleh; Virginia Mason Franciscan Health; and educational organizations: Bates Technical; Tacoma Community; Clover Park Technical; and Pierce College, before they were seated for breakfast. Formal programming kicked off with a literal bang via a performance from the talented youth of Lincoln High School Drumline. Over a seated breakfast guests heard from a handful of speakers including Congresswoman Marilyn Strickland; Congresswoman Emily Randall; Port of Tacoma Commissioner Position #2 Dick Marzano; Pierce County Executive Ryan Mello; Neal Johnson, Ph.D. of Sound Resource Economics; and Keynote Speaker Angelo Kourkafas, CFA® Senior Strategist, Investment Strategy at Edward Jones. Following opening remarks and insights, Tom Layson, Managing Editor & Producer-Host of Northwest Now, KBTC Public Television, led a Q&A with Mr. Kourkafas and Dr. Johnson regarding pressing economic issues that face the region and nation. The event featured emcees Andrea Reay, President and CEO of the Tacoma-Pierce County Chamber, and Kierra Phifer, Board Chair for the Chamber and Public Engagement Manager Northwest for DoorDash. David Schroedel, Executive Vice President of the Chamber gave a heartfelt tribute to Dr. Bruce Mann, a beloved Economics professor at the University of Puget Sound who passed in October 2024 and contributed over the past several decades to the community and Horizons as an expert and teacher. Guests received a copy of the Pierce County Economic Index Report for 2025 at the event. This report is a pivotal tool for understanding the county's economic health and prospects. The report, authored by Dr. Johnson, highlights a mix of growth and challenges alongside trends in GDP, labor markets, housing, and retail sales, while forecasting moderate growth and ongoing challenges for key sectors in 2025. “This PCEI Report gives our members the insights they need to navigate the year ahead with resilience while acknowledging the headwinds still facing Pierce County. While we’re seeing progress in personal income and job creation, challenges in housing affordability and retail spending underscore the lingering effects of high interest rates and inflation,” said Andrea Reay, President & CEO, TPCC. “We hold a cautiously optimistic outlook for Pierce County. From job creation to housing affordability, this report helps our community take informed steps toward building a stronger, more equitable economy. Our commitment is to ensure that businesses—big and small—have the tools to succeed.” After the opening program concluded attendees were given the option to select one of three break-out panel discussions of their choosing: In “The Road Ahead: Innovation, Inflation, and Workforce Transformation in Pierce County,” a dynamic panel uncovered the forces shaping Pierce County’s economy in 2025. It dove into key insights on how inflation, interest rates, and artificial intelligence are transforming the workforce and regional industries. The panel also explored the evolving roles of trade, immigration, and organized labor in driving economic growth, and attendees gained a deeper understanding of how housing, childcare, and workforce infrastructure impact local opportunities. The panel was moderated by Samanta Le, President and CEO of the Seattle Southside Chamber and featured speakers:
In “Foundations for Growth: Housing, Transit, and Economic Resilience in Pierce County” the panel examined how Pierce County’s economic future is at a crossroads with housing affordability, transit connectivity, and rising development costs that are reshaping how businesses attract talent, communities grow, and leaders plan for the challenges ahead. This panel brought together regional experts to discuss the forces driving these changes and what they mean for Pierce County’s business landscape. From zoning reforms and transit-oriented development to the economic ripple effects of housing shortages, this session explored how policy, design, and infrastructure intersect to influence the region’s growth trajectory. The panel was moderated by Debbie Cockrell, Tacoma News Tribune and featured speakers:
Our third panel, “The Four Ps of Energy Transitions in Pierce County: Prices, Policy, Production and People” featured discussion on how the region can navigate a critical juncture in its energy future. Bringing together leaders from across the region, it explored how energy innovation, infrastructure investments, and policy shifts are reshaping our community. From the integration of renewable energy to addressing the challenges of electrification, the discussion illuminated the path forward for a more resilient, sustainable energy economy. The panel was moderated by Bill Dickens, Author and Former Senior Energy Economist at Tacoma Power and featured speakers:
This event could not have been possible without the support of our Sponsors, our members, and the community as a whole. Thank you to our:
If you have not already filled out our post event survey, please do so. You may find the survey available online here. We are always looking to expand what we have to offer Pierce County as we strive to make the South Sound the most equitable, inclusive, and thriving place to do business in Washington State. Thank you to everyone who spent their morning with us. We hope to see you at our next event soon!  The Tideflats Subarea Plan recently reached a critical milestone with a unanimous recommendation for adoption from the Tideflats Steering Committee. This landmark decision marks the culmination of seven years of collaborative planning between the City of Tacoma, Puyallup Tribe of Indians, Port of Tacoma, Pierce County, and the City of Fife. "This is a historic achievement in our journey towards a sustainable and prosperous future for Tacoma. The unanimous recommendation for adoption of the Tideflats Subarea Plan by the five-government Tideflats Steering Committee is a testament to the power of collaboration and shared vision,” said Mayor Victoria Woodards. “Over the past seven years, our collective efforts have led us to a plan that harmonizes industrial growth with environmental stewardship, addresses community needs, and ensures the long-term resilience of our region. The Tideflats Subarea Plan is a model for future planning in industrial areas, and we are proud of the work that has been accomplished by the Tideflats Steering Committee. I also want to extend my appreciation to our business community and stakeholders who contributed their time, expertise, and passion to shape this plan. Together, we are paving the way for a brighter, greener future." The Tideflats Steering Committee, comprised of elected representatives from each of the five partner organizations, was convened in 2018 to guide the development of the Subarea Plan. The plan balances industrial growth with environmental protection, community needs, and the long-term resilience of the region. The steering committee's efforts have been bolstered by thousands of community comments, countless staff presentations and expert analysis, and the perspectives of diverse stakeholders. These include neighborhood organizations, business interests in the Port of Tacoma, and members of the Tideflats Advisory Committee. This achievement would not have been possible without the dedication, engagement, and collaboration of the broader community. Key features of the Tideflats Subarea Plan include:
“I am incredibly proud of the work that we have accomplished on the Tideflats Subarea Plan. Five governments and multiple stakeholders came together in partnership to develop the best possible plan for all stakeholders,” said Council Member Kristina Walker. “The outstanding collaboration that has gone into this work enabled us to integrate vital environmental goals and improvements to transportation infrastructure that will reduce our carbon footprint and help us transition to cleaner energy sources in the Tideflats. I want to share my sincere appreciation for everyone that has weighed in on this project and helped to ensure that we took a coordinated approach to problem-solving. I have no doubt that our robust stakeholder dialogue will ensure the long-term success of this plan.”
The Steering Committee's recommendation will be transmitted to the City Council and Tacoma Planning Commission. The Planning Commission will conduct a public hearing and comment period in early 2025 and is expected to provide their recommendations to the City Council in Spring 2025, followed by City Council consideration and possible adoption in Summer 2025. Details on the Tideflats Subarea Planning Project are available here. Community members with questions about this project can contact Stephen Atkinson at [email protected] or (253) 905-4146.  On May 3, 2024, the Tacoma-Pierce County Chamber, Communities for a Healthy Bay, and Port of Tacoma partnered to launch a new annual award program designed to recognize local Pierce County business that demonstrate an extraordinary commitment to environmental excellence and sustainability in our region. Congratulations to the following winners: Environmental Excellence Business Innovation Award Winner: Aquagga Aquagga is a cleantech startup firmly headquartered in Tacoma, developing portable, containerized systems that safely and cleanly destroy PFAS "forever chemicals" with zero emissions or toxic byproducts. Aquagga is currently engaged with projects sponsored by the DoD to bring their "HALT" PFAS destruction technology to market and are one of the world's leading PFAS destruction companies. Aquagga just completed their second commercial-scale PFAS destruction demonstration project. Aquagga is working with the City of Tacoma and the University of Washington Tacoma on a PFAS removal and destruction demonstration project at the City's wastewater treatment plant, a first-of its-kind. Environmental Excellence Business Award Winner: Radius Recycling Radius Recycling operates 54 metals recycling facilities, including 7 shredding operations, and 3 with deep water access on the West Coast. They also own 50 auto dismantling and retails stores, and a state-of-the-art electric arc steel mill that produces finished steel products made from recycled ferrous metals. In Tacoma, Radius Recycling has recycled 592,303 tons of ferrous metals and 28,245 tons of non-ferrous metals in the last year. This supports new infrastructure projects and low-carbon, metal-intensive technologies such as wind, solar, and electric vehicles. In January of 2023, Radius was ranked #1 on Corporate Knights’ 100 Most Sustainable Companies and Time Magazine’s 100 Most Influential Companies. Radius Recycling is also a proud contributor in Tacoma Public Utilities Evergreen Options Program Radius is committed to a future with less waste, turning old into new, and supplying the essential materials for critical industries to foster more resilient communities. Honorable Mention: LRI: A Subsidiary of Waste Connections LRI owns and/or operates seven waste disposal facilities in Pierce County. The LRI Landfill collects over 5,000 Standard Cubic Feet per Minute of landfill gas. Gas is piped to a Landfill Gas to Energy Facility that creates enough power for 4,000 homes. The Hidden Valley and Purdy Compost Facilities receive nearly 100,000 tons of yard waste from throughout Pierce County per year. It is transformed into certified organic compost!  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 Wednesday, January 31, 2024, over 400 members of the business community joined us for the 2024 Horizons Economic Forecast! The morning kicked off with coffee and networking, then moved into the main program where local and regional leaders discussed the Pierce County economy. Thank you to all you attended, especially our event sponsors and speakers! Sponsors
Speakers
 On October 19, the 45th Annual Business Leadership Academy embarked on a half day bus tour of the Port of Tacoma focusing on the main economic impact drivers of the South Sound. We focused on the Port footprint and highlighted the history of the Port and major economic impact industries- maritime, military and manufacturing. We started the morning with a presentation from Kristen Ang, commissioner, Port of Tacoma with a Port Overview. Our next stop was Tacoma Rail where Superintendent Dale King let attendees get up close to working Tacoma Rail. Leslie Barstow, Community Relations, Port of Tacoma took the group on an hour-long tour of Port of Tacoma Road. The tour provided the group with an overview of port operations, equipment and waterways. The Port highlighted efforts to restore critical salmon habitat and ensure that the future of operations in Tacoma will continue to set the standard for economic impact and sustainability, and environmental stewardship. Lastly, the group toured Foss Waterway Seaport Museum with Executive Director Brent Mason. We learned about the historic role the building played in Tacoma’s port-maritime activities, serving as a grain terminal. We were able to learn how Tacoma’s “rails to sales” story evolved over the years, and the influence of the labor movement on Tacoma’s working waterfront. The museum is also home to a marine science program that serves Tacoma Public Schools and a wooden boat shop which offers a range of community programming. It is important to be able to see first-hand how our Port and industrial areas along with a robust manufacturing sector connect with Joint Base Lewis McCord to form the backbone of our economy in Tacoma and Pierce County. Special Thanks to Tour Guide, Ryan Spence, of the Chamber’s Manufacturing Industrial Council. Special thank you to our speakers and tour guides: Kristen Ang, Port of Tacoma Commissioner - Tacoma Rail Superintendent Dale King - Leslie Barstow, Community Relations, Port of Tacoma - Brent Mason, Executive Director of the Foss Waterway Seaport - Ryan Spence, TPCC Manufacturing Industrial Council
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