Seattle Metro Ranks 8th of 11 for Business Survival With 66.43% 5-Year Rate
Updated
Updated · seattlered.com · Aug 3
Seattle Metro Ranks 8th of 11 for Business Survival With 66.43% 5-Year Rate
1 articles · Updated · seattlered.com · Aug 3
Summary
Seattle-Bellevue-Tacoma placed 8th among 11 Washington metro areas in Build Your Store’s business-survival study, with 66.43% of new firms still active within their first five years.
Nearly 98,000 establishments make it Washington’s largest business market, but the report said heavier competition, higher operating costs and pressure to win customers quickly weaken survival odds.
Seattle’s tax burden was cited as a key drag, including B&O rates of up to 0.658%, the JumpStart payroll tax and a 5% social-housing tax on high compensation, alongside higher minimum-wage and property costs.
Downtown Seattle has already lost about 30,000 jobs and seen office-building taxable values fall 48% in the five years since JumpStart took effect, according to a recent Downtown Seattle Association study.
Wenatchee-East Wenatchee topped the ranking with a 69.54% five-year survival rate, narrowly ahead of Walla Walla at 68.84%, reinforcing the study’s finding that smaller Washington metros are outperforming major urban centers.