SIC’s advantageous location is unparalleled. The region’s deep talent base, phenomenal infrastructure, and superb quality of life will only continue to expand, creating a cluster of expertise that attracts more and deeper talent.
Everett maintains a robust concentration of specialized knowledge in aerospace technology, applied materials, robotics, sensors, and additive manufacturing.
Advanced manufacturing and manufacturing-related enterprises employ the plurality of the region’s talent, industries infused with research and hands-on training programs by the University of Washington, Washington State University, and two tech-driven community colleges.
Future-shaping companies such as Boeing, Amazon, Google, Microsoft, T-Mobile, and Nintendo foster the development of seasoned professionals in the Greater Seattle area, while local medical science enterprises such as Philips Healthcare, Sonosite, and CMC Biologics influence the future of medicine.
The region enjoys a diversified economy that’s outperforming most other areas in the nation. The technology and retail sectors continue to grow, construction is active, and the population is expanding.
To source the brightest minds in advanced manufacturing, aerospace, and software, one need not travel far. SIC is competitively positioned to source, attract, and retain the expertise required to bring the future to pass.
What starts in Seattle impacts the world. From a small coffee & tea shop in Pike Place Market, Starbucks pitched a vision for a “third place” that quickly spread through towns and cities across the country. A computer at a small private school in North Seattle gave a young Bill Gates the knowledge with which he launched the software revolution. And much of the technology that propels the modern airplane was invented in an Everett factory under the name of “Boeing.”
Seattle’s legendary ascension is topped only by its current expansion. Today, the area is experiencing a surge of talent, a rise of technological capability, and an influx of the world’s most future-focused brands.
The city’s booming tech scene, anchored by Microsoft, Amazon, Zulily, and others, is being bolstered by fresh perspectives from a wide swath of mid-sized firms, including PopCap Games, Bluekai, and Isilon. Meanwhile, Silicon Valley mainstays like Google, Facebook, and Uber are launching Seattle-based engineering operations.
From Microsoft’s investments in the future of mobile and VR on Seattle’s Eastside, to Amazon’s disruption of retail from South Lake Union, and Boeing’s innovations in advanced materials and aerospace engineering in Everett, the Greater Seattle Area offers an uncompromising destination for future-focused companies in need of technical expertise, industry collaboration, and robust infrastructure.
The City of Everett is one of the most vibrant communities in the Pacific Northwest. Fueled in part by the number of lucrative jobs at Boeing and other leading employers, the city maintains a rich culture of arts, food, entertainment, and recreation:
- Arts and Music – From the vibrant music scene driven by the Everett Music Initiative, to the hands-on glassblowing classes at the Schack Art Center, creativity flourishes in Everett.
- Local Markets – Shopping local while supporting Everett’s talent is easy. The Everett Makers Market highlights a dedicated and talented community of artisans and craftsmen selling their wares. Alternatively, the weekly Everett Farmers Market offers fresh produce at the Port of Everett.
- Nature & Recreation – Everett is home to the largest public marina on the West Coast, making it a popular whale watching destination. And just beyond Everett’s borders, Snohomish County and Greater Seattle offer plentiful recreational activities for the entire family.
Snohomish County and Greater Seattle
Snohomish County is a gateway to the beauty of the Pacific Northwest. Outdoor enthusiasts will appreciate the region’s convenient access to sailing, skiing, hiking and biking, many located just minutes away. Cultural attractions include numerous museums, theaters, and concert venues. And foodies will enjoy the diverse culinary landscape, ranging from haute food trucks to experimental cuisine.
Just south of the Snohomish County border, the world-famous Seattle music scene draws world-class talent on a regular basis, and professional sports teams like the Seattle Seahawks, Mariners, and Sounders unite the city through friendly competition.
The region is abuzz with culture, providing residents with convenient access to a rewarding, active, and engaged lifestyle.
Snohomish vs. King Counties Cost of Living
Compared to neighboring King County (and not to mention the San Francisco Bay Area), Everett and Snohomish County are remarkably affordable. STC and its surrounding area grant access to industrial and residential space at prices far lower than comparable properties in Seattle, San Francisco, Silicon Valley, or other tech centers with comparable expertise, while providing better access to Boeing’s aerospace manufacturing facility, the Port of Everett, and Paine Field.
|Category||King County||Snohomish County||Advantage: Snohomish County|
|Average Home Price||$634,500||$461,700||$172,800|
|Average Property Tax, per $1,000||$11||$10||$1|
|Average Residential Rent||$2,767||$2,072||$695|
|Average Class A Office Space, price per square foot*||$32||$23||$9|
Economy & Demographics
The Puget Sound outperforms the nation in population growth, employment, and appreciation of real estate. The region’s population is growing faster than state and national averages, and employment is at an all-time high. Fierce demand for commercial and residential real estate contributed to an 14% YOY appreciation in home values between 2015 and 2016, double the national rate. Retail sales have grown for 10 straight quarters, and personal income and employment are forecast to grow faster than the national average.
STC’s context provides:
- Access to a labor pool of hundreds of thousands of highly skilled workers, 30% of whom have a bachelor’s degree or higher, and many of whom have experience in aerospace manufacturing. (Of the county’s 760,000 residents, more than 30,000 are employed by Boeing — and that’s just in Everett.)
- Entry to a community whose residents are deeply invested in the region. Over 66% of Snohomish County’s residents are homeowners, with a median household income of over $68,000.
- Access to a diverse employment pool that includes more engineers, architects and managers than most other large cities in the nation, with an unemployment rate lower than the state average.
- The median home value in Everett is $289,475, 19% lower than Snohomish County’s average of $356,300.
- Snohomish County has an employment rate of 94.7% and a total labor force of 403,660.
More than half of the 59,430 employees working in Everett are employed by aerospace manufacturing or high tech businesses.
Businesses located in Everett may qualify for lucrative tax advantages. Qualifying SIC users will pay no corporate income tax, no inventory tax, no value-added tax, no personal income tax, and no state tax on interest, dividends, or capital gains. Instead, your business pays state and local Business & Occupation taxes on your gross receipts.
The amount of B&O tax you pay depends on your primary rate classification, but may be offset by certain state incentives designed to support manufacturing:
- Aerospace Manufacturing Incentives – Aerospace manufacturers pay a reduced B&O tax rate, plus receive a credit against preproduction development expenses. Aerospace manufacturers are also exempt for Sales & Use Tax for hardware, software and peripherals.
- High Tech Manufacturing Incentives – High tech manufacturers are credited against B&O for research and development expenses. Biomedical manufacturers also receive a deferral or waiver for Sales & Use Tax. Solar energy businesses can take advantage of reduced B&O.
- Jobs Skills & Employment Training Incentives – Manufacturers who provide their employees with access to job skills and employment training programs through local community colleges earn 50% savings through cost share or credits against their B&O tax.
- Sales Tax Exemptions – Manufacturing businesses pay no sales tax on manufacturing equipment. Interstate and foreign sales are also exempt from sales tax.