Gov. Jay Inslee signed House Bill 1386 on Monday. Here, he talks in Tukwila before last week’s signing of the new capital gains tax bill. (AP Photo/Ted S. Warren, file)

Gov. Jay Inslee signed House Bill 1386 on Monday. Here, he talks in Tukwila before last week’s signing of the new capital gains tax bill. (AP Photo/Ted S. Warren, file)

Inslee signs bill extending tax break used by area cities

It’s helped Arlington and Marysville attract new businesses to Cascade Industrial Center.

OLYMPIA — Gov. Jay Inslee signed legislation Monday revising, broadening and extending a property tax break which has helped Arlington and Marysville bring new businesses to the Cascade Industrial Center.

Inslee signed House Bill 1386 to extend a 2015 law which had allowed only those two cities plus Lake Stevens to let new manufacturing businesses avoid paying a share of local property taxes under certain conditions. The new law makes the incentive available for use by all cities.

To be eligible, a firm must create and maintain at least 25 “family living wage” jobs defined as paying an average of $23 per hour and provide health care benefits. Also, an industrial or manufacturing facility must be at least 10,000 square feet with an improvement value of at least $800,000.

The law expands the types of industries which are eligible and directs cities to give priority to those that pay prevailing wage rates, contract with women-, minority- and veteran-owned businesses, and hire locally. A tax break can be revoked and companies required to pay back taxes if they fail to maintain the minimum number of jobs.

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