Snapshots

Seattle and Tacoma metro areas rank among 2018 top ten places for business and careers

  • Puget Sound’s Seattle and Tacoma metropolitan areas topped Forbes’ 2018 list for Best Places for Business and Careers, with Seattle leading the way. The titles come as the Puget Sound Region sees unprecedented population growth, persistently tightening real estate markets, and national eyes on regional business growth.
  • The Seattle economy grew 6.2 percent in 2017, compared to the nations 2.3 percent, unseating Portland, it’s Northwest neighbor, from the 2017 top seat. Seattle’s roots in business innovation, heavy concentration of highly-educated talent, and positive growth outlook are among the reasons the City stands out. Noted challenges of the Seattle metro include affordability and business costs.
  • With booming economies in Seattle and Tacoma, the region's office and industrial real estate markets are experiencing highly competitive rental rates and limited availabilities. The industrial sector is especially active in Tacoma and the surrounding area where a robust development pipeline is centered around the Port of Tacoma and major transportation corridors. In the region’s office market construction is struggling to keep up as demand strengthens and large tenants look to expand and relocate in an increasingly landlord-favorable market.

Source: JLL Research, Bureau of Economic Analysis, Forbes

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