Welcome to all the new members who joined our business community in February 2024:
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. Attendees of the Chamber After Hours in February - the month of Valentine’s and burning love - had no wild flames to worry about thanks to Patriot Fire Protection, our amazing host!
The venue, equipped with a gym, wet bar, and even a putting green, was the perfect spot to spend the evening. Guests were welcomed by Chamber Ambassadors, along with Patriot’s Mascot, Sprinkler Man. Catering offered by Gallucci’s was exquisite; flat-bread pizzas, lettuce and pasta salads, meatballs, and more delicious bites to enjoy. In the glow of the (flameless) tealight candles and homemade marquee sign, conversations ranged from which snow sport was best, to the father-son duo who have been with the company for many-a-year and all the great changes they have seen within the company to get it to where it is today. Thirty-four years of servicing new construction (commercial and residential), conducting inspections, testing and maintenance, and fire alarm monitoring to name a few of the many operations Patriot Fire Protection’s team handle day-to-day. With locations in Vancouver, Spokane, and of course Tacoma, the PNW can rest easy knowing that Patriot Fire Protection has been (and will continue to) “protecting lives and property” for years to come! If you missed this Chamber After Hours and want to join in, please visit our event calendar to discover more. 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
Welcome to all the new members who joined our business community in January 2024:
2023 was an exciting year for the Tacoma-Pierce County Chamber and our local business community! This past year we were thrilled to host sold out signature events where we strengthened relationships with friendly faces — many familiar and many new! The conferences we took part in gave local leaders chances to learn, grow, and be inspired with ambitious ideas for the South Sound. We were honored to play a role in leadership development programs for business owners and entrepreneurs on the rise in our region. Advocacy to protect business interests and ensure a thriving local economy was a top priority for us on a local, state, and national level. Throughout the year, we enjoyed many different opportunities to celebrate the successes and accomplishments of our vibrant business community. Thank you to everyone who joined us this year to make an impact for business in the South Sound. We can't wait to have you alongside us for everything 2024 has in store! Read our recap of the Chamber's Top 10 accomplishments, events, programs, and moments from 2023 below!
The Chamber welcomed five new staff members in 2023, all of whom possess great qualities and help the Chamber grow. One of those individuals is Mary Sedano, the Chamber's new Marketing & Communications Coordinator.
A new company was welcomed at 1201 Pacific here in Tacoma last week. WSP USA celebrated the grand opening for their new office space.
Located on the fifth floor, they have amazing views of the Port, and the Dome. Delicious appetizers, drinks, and even a hot cocoa bar was available for the 30 + attendees! Mayor Woodards along with Deputy Mayor Walker were able to join in to share the special day for the engineers, scientists, biologists, project managers, technical and business advisors and more that make up WSP USA’s amazing team. See the gallery below for photos from the night. On November 16th the Tacoma Pierce County Chamber hosted a graduation luncheon for the 45th Business Leadership Academy. The Business Leadership Academy of Tacoma-Pierce County, sponsored by the Chamber and Pacific Lutheran University, is a regional community leadership program founded in 1978. The Business Leadership Academy of Tacoma-Pierce County is an opportunity for current and emerging leaders to engage with the business community while developing leadership skills and interacting with exemplary leaders. Over the past 9 weeks the Business Leadership Academy participants:
On October 17th the Chamber helped celebrate a milestone with a ribbon cutting for Always in Bloom! Also celebrating a grand opening with a ribbon cutting was Sir Grout Tacoma. Congratulations to both businesses on your milestones and we wish you continued success!
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