IINCENTIVES and development programs
Washington State and Grays Harbor County offer multiple business incentives and advantages. Addionally, Washington companies pay…
• no corporate income tax
• no tax on inventory
• no personal income tax or taxes on capital gains.
For a list of industry specific incentives offered by Washington State, click here.
Sales Tax Deferral on Construction
Qualifying manufacturers may defer sales tax associated with construction of new manufacturing facilities. Learn more here.
Sales and Use Tax Exemptions on Machinery and Equipment
Manufacturers and processers purchasing qualified machinery and equipment are not required to pay local or state sales or use tax when the purchase is used directly for manufacturing or R&D. Learn more here.
Distressed Area Business & Occupation Tax Credit
A $2,000 or $4,000 B&O tax credit is available for each new employment position created by a qualifying manufacturer. Learn more here.
Warehouse Distribution Facilities
Qualifying distribution centers are eligible for a partial state sales tax exemption on the construction of a new warehouse distribution facility over 200,000 square feet. Learn more here.
Employee Training Incentives
The Washington State Job Skills Program provides matching grants for customized job training. Customized job training programs are often developed in partnership with Grays Harbor College. The program requires a 50 percent matching investment from the company, which can include in-kind contributions. Learn more here.
Industrial Revenue Bonds (IRB)
Local Public Corporations may issue tax-exempt IRBs on behalf of private companies. Because interest payments to IRB buyers are not subject to federal income tax, bonds can be sold at lower rates of interest. This reduces the cost of the project. Costs that may be included in IRB financing are property acquisition, machinery and equipment, design, consulting, legal, accounting and financing. Learn more here.
.09 Rural Development Funds
Funding is available for qualifying public improvements and infrastructure. The fund is administered by Grays Harbor County and is only available to rural communities in Washington.
State grant and loan funding for public infrastructure improvements needed to serve business. Learn more here.
Foreign Trade Zone
The Port of Grays Harbor is designated as a US Foreign Trade Zone. In this zone, firms pay no tariffs on imported raw materials used to create products that are shipped overseas. If the manufactured products are sold in the US, companies only pay duties when the products are shipped and only on that portion of foreign materials that actually went into the product, not the waste. Foreign and domestic goods may be processed or stored without payment of customs duties and without being subject to other regulations normally applied to customs entries. Materials may be sorted, reassembled, repackaged, manipulated, processed, used in manufacturing, or stored in the Foreign Trade Zone. Learn more here.
Fast Track Permitting
Grays Harbor County and its municipalities are committed to reducing the roadblocks and paperwork that stand in the way of private investment projects. Permits and licenses can usually be approved within 60-90 days from the time the company submits a completed application. Greater Grays Harbor, Inc can act as an intermediary for the company to assist and move the project along.