OLYMPIA — A bill allowing Marysville and Arlington to offer manufacturing businesses a tax break if they promise to create high-paying jobs has been signed into law by Gov. Jay Inslee.
The cities will be able to exempt companies from paying a portion of property taxes for 10 years if they provide at least 25 jobs that pay a “family wage” considered to be at least $18 an hour.
Marysville and Arlington leaders think this incentive will help attract aerospace, high tech and manufacturing firms to a 1,200-acre area along Highway 531 designated for industrial development.
The bill also applies to Lake Stevens, which has about 100 acres for potential industrial development.
Sen. Kirk Pearson, R-Monroe, sponsored the bill which passed unanimously in the Senate and by a 74-18 vote in the House.
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