Seattle’s new “Seawall” report says the city is not in decline, but its economic model has become increasingly fragile and needs a new growth strategy.
The assessment was commissioned by the Office of Economic Development in 2025 and produced by Formation after a year of data analysis and consultations with business, nonprofit, policy and neighborhood stakeholders.
The report argues past policies were rational during a decade of rapid expansion, but will not be enough for the next phase of growth.
It frames competitiveness and affordability as inseparable, warning that families and employers face the same cost pressures and that top earners can relocate to places where living costs are lower.
Seattle officials say the report is meant to guide a broader city and regional strategy to preserve the city’s strengths while adapting to future industries and opportunities.