Curious development....Washington State, facing a projected $16 billion budget shortfall over the next four years, has enacted comprehensive tax reforms during its 2025 legislative session to generate approximately $9 billion in new revenue through 2029.
These changes, signed into law by Governor Bob Ferguson on May 20, 2025, focus on modernizing the tax code, shifting toward progressive structures, and increasing the burden on high-revenue businesses—particularly major companies like Amazon and Microsoft.
Based on chatter....there's probably forty companies....big-to-medium sized...viewing an exit....with Idaho, Texas, and Florida usually mentioned.
The big guys? Amazon.com Inc. (Seattle, 1,541,000 employees), Providence Health & Services (Renton, 120,000). Starbucks Corporation (Seattle, 381,000). Costco Wholesale Corporation, Issaquah, 316,000). Microsoft Corporation (Redmond, 221,000). Boeing Company (Arlington (corporate HQ), 60,244 (statewide).
My humble belief? Around early spring....at least three announce a headquarters move by summer of 2026, and a break-up/downsizing/exit of the remaining parts of their organization. Twenty-plus companies will follow by the end of 2026.
A crappy profit year anyway? That's really part of the 2026 landscape....with less tax revenue anyway.
The big 'gain'? Texas.
The big 'loser'? Washington state in early 2027....pleading for stability and recovery.
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