Federal Way Chamber to create regional economic development plan

“We’ve done the research. The time for action is now.”

The Greater Federal Way Chamber of Commerce announced is is partnering with Jobs for South Sound Foundation to create a regional economic development plan.

The strategy will bring together current economic data and research with previous findings from Ernst & Young. The Economic Development Advisory Services (EDAS) practice from Ernst & Young will help develop a metric-based strategy for the Federal Way area of the South Puget Sound, according to the chamber.

This initiative will include new stakeholder engagement with identified private/public sectors to participate in focus groups and workshops, which run March 26.

“Our partnership with the foundation is focused on enhancing the overall business landscape in our region,” said Chamber CEO Rebecca Martin in a press release, who notes that collaboration is key. “Business is focused growth and identifying intentional strategies for development with an action plan to help sustain and expand our shared economic base.”

Economic development can maintain a strong tax base, create wealth through entrepreneurship and business expansion, and connect workforce to opportunity, noted Martin.

“As we overlay the considerable economic work already completed, the strategy will be crafted with input as we outline opportunities to strengthen the inflow and outflow of business in our region,” said Martin. “Business is foundational to community and by bringing people together and thinking collaboratively, we all can take a look at what we can do to move our region forward.”

“Having an intentional strategy based on economic data is fundamental to the development of any plan that supports inclusive economic growth,” said Martin. “We’ve done the research. The time for action is now.”