Regions with competitive ports have always generated a higher level of individual prosperity that others. In today's hyper-competitive global economy having three competing port districts in Puget Sound makes absolutely no economic sense. Our state's port district laws have remained basically unchanged since the founding of the state over 100 years ago and global trade operated in a very different environment. Glenn's initiative would merge the Seattle, Tacoma and Everett ports into a unified Puget Sound District under a joint state/local governance structure and set clear goals to be successful in global commerce. This initiative would make our state more globally competitive and be a much better deal for taxpayers.
Advanced Manufacturing Growth
The Boeing Company is a tremendous asset to our state's economic health, but having just one Boeing (or Microsoft) is not enough. Advanced manufacturing where our workforce skills and technological know-how are building the next generation of many different products means high paying jobs. Those advanced manufacturing jobs mean fatter paychecks that can't be exported just because of low labor costs in emerging countries. It's also very important that those types of jobs are spread across the state to the best of our ability. Glenn's initiative to establish competitive industrial land use set asides to attract small and mid-sized manufacturers to rural communities would be a key start to ending rural unemployment.
Corporate Tax Model Restructuring
The state's current corporate tax structure is a thick barrier to encouraging job creation, especially for small and mid-sized businesses. Equally, the current business tax code is riddled with tax exemptions for those that can afford to influence legislation in Olympia that benefits their interests. We need to start over. Our corporate tax code needs to balance job creation and investment in the physical and educational infrastructure that supports the economic health of the whole state. Glenn's initiative is to eliminate the current B & O tax on gross business sales and all exemptions and replace it with a low flat rate corporate income tax, with small businesses generating less than $1 million in net income exempt. Glenn's initiative is conditioned on no personal income tax to be levied.