Building Together - Succeeding Together
Tacoma/Pierce County – which, despite its proximity to Seattle/King County, has characteristics of a "left behind" community:
The Seattle area "imports" workers while the Tacoma area "exports" workers, with over 100,000 residents commuting to Seattle/King County for employment. While King County has 2.5x the Pierce County population (Seattle/King County 2,277,200 vs. Tacoma/Pierce County 916,204), it has 4x wage & salary employment (1,427,621 vs. 354,908).
Pierce County is more dependent on the government for its economy. Pierce County's private GDP is $34.85 billion while King County has a private GDP of $307.12 billion.
King County produces a much larger ratio of both added value and payroll per worker. The Tacoma/Pierce County GDP ($46.1 billion) is 65% wages of $30.1 billion while King County's GDP ($331.8 billion) includes 57% wages of $190 billion.
The Tacoma area has slower growth. King County's GDP increased from $175 billion in 2010 to $$332 billion in 2020 (90% gain) while Pierce's GDP increased from $33 billion to $46 billion (40% gain).
This should be a "wake up call" for Tacoma area civic leadership to emphasize the cultivation of an entrepreneurial community to stimulate the local economy and retain talented people.
(US Bureau of Economic Analysis, 2020 data).
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