Study: 40 percent of Washington state jobs now tied to global trade
WASHINGTON — International trade now accounts for 40 percent of all jobs in Washington and is the largest single driver of the state's economy, according to a report released Tuesday morning.
As an Asian gateway to the United States, Washington state has been cashing in big-time on its close ties to China, which now ranks as the state's top trading partner, followed by Canada, Japan and South Korea.
Exports to China have increased a whopping 230 percent since 2004, while imports flowing through the state's ports on their way to other U.S. destinations have resulted in thousands of new jobs, according to a report by two pro-trade groups, the Washington Council on International Trade and the Trade Development Alliance of Greater Seattle.
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According to data provided by developers and the ports, the terminals would generate a total of roughly $25 million in taxes annually.