HB 2482 received unanimous approval from the House of Representatives
A bipartisan bill from Rep. Paul Harris that would reinstate semiconductor tax incentives is moving to the Senate. The Washington State House of Representatives unanimously voted in favor of House Bill 2482 on Monday, which would extend two tax preferences for semiconductor manufacturing until Jan. 1, 2034.
The bill would also reinstate six tax preferences that expired on Jan. 1, 2024, until Jan. 1, 2034, contingent on new industry investment.
“I brought this bill forward because we have two semiconductor manufacturers in Southwest Washington that together provide more than 3,000 jobs to our communities,” said Harris, R-Vancouver. “They both operate in a global economy, and they need to continue to be competitive in a world market. This bill would help them do that and would help us keep these jobs in our area.”
Under House Bill 2482, the six expired tax preferences would be reinstated contingent upon the construction of a new semiconductor manufacturing fabrication built by Jan. 1, 2034, with an investment of at least $1 billion in buildings and equipment.
“These companies came to our little area of the world for two reasons: a strong workforce and clean and affordable energy,” said Harris. “Currently they both pay roughly $1 million a month for their electricity, and that price will be going up by an additional $125,000 a month due to a recent increase in rates in our area.
“They need this tax exemption reinstated. These are phenomenal companies that provide great jobs to the people of Southwest Washington and a boost to our economy. They have done everything we’ve asked of them. If we help them by reinstating these incentives, they will continue to invest in our community going forward.”
In 2022 the semiconductor industry created $2.5 billion in wages and is the eighth largest export for Washington at $898 million. Semiconductor manufacturing jobs are expected to double in the next 10 years. Additionally, out of the 50,632 semiconductor manufacturing jobs in Washington, 55% of these jobs are in Clark County.
The bill now heads to the Senate for further consideration.
Information provided by Washington State House Republicans,
houserepublicans.wa.gov
Also read:
- Letter: ‘The city (of Vancouver does not enforce city codes for environmental protection and human safety’
Peter Bracchi criticizes Vancouver’s enforcement of environmental and safety codes, urging action to protect Burnt Bridge Creek and critical areas. - WA lawmaker says vehicle sales taxes are solution to transportation budgetA new proposal by Sen. Curtis King aims to redirect vehicle sales taxes to boost Washington’s transportation budget, addressing declining gas tax revenue.
- Opinion: The best next steps for public schools in Washington stateLiv Finne outlines actionable reforms to improve Washington public schools, addressing declining enrollment, education policy, and school choice.
- Giving season inspires Taylor Morrison to make donation to YWCA Clark CountyTaylor Morrison donated $10,000 worth of household items and toys to YWCA Clark County’s Holiday Shop, bringing joy to families in need this season.
- Washougal School Board seeks community input for superintendent search
The Washougal School Board invites community input through a survey and in-person event to help guide their superintendent search. - Gildon becomes top Republican on Senate budget committeeSen. Chris Gildon, the new Republican leader on the Senate Ways and Means Committee, emphasizes a sustainable budget approach as Washington lawmakers prepare for the 2025 legislative session.
- Animals rescued during Vancouver house fireFirefighters rescued three kenneled dogs and ensured the survival of five pets after a house fire in Vancouver, Washington.
