Manufacturing, Return of Hospitality Industry Keys to WA Recovery
According to new reports prepared by the group Opportunity Washington, our state suffered noticeably worse than the average state when it comes to COVID hits.
Most notably, the hospitality industry nationally was down 24.5 percent due to COVID, meaning the industry lost that much business, and jobs with it, according to the Wall Street Journal. In WA state, that number was 30.5 percent.
The hospitality industry consists of four economic areas according to hospitalitynet.org:
- Food and Beverages
Our state suffered significantly more than many especially due to Gov. Inslee's lockdowns. Prominent examples include the battle over the Chelan County Waterpark known as Slidewaters, where Inslee turned loose Labor and Industries and threatened the owners with jail time if they didn't shut down.
Opportunity Washington says while the national GDP report showing a 33 percent rebound was felt all over the nation, there are numerous other states, at least 10, who are much closer to normal levels than ours.
Manufacturing also accounts for 11 percent of our state's overall economy, with at least 6,500 companies from Boeing on down to small operations producing products and jobs. OW says the prospect of that crippling unemployment insurance tax hike in 2021 could deal a severe blow to manufacturing as well as the economy.
Inslee and some other leaders are proposing such a tax, to offset some of the losses due to COVID when it comes to tax revenue, AND to recoup millions lost in the Nigerian unemployment scam. It was the largest state scam in US history.
To read more about OW and what's in store for WA state click on the button below.