Learn about our many incentives including no local B&O tax, no development impact fees, free construction watch program, and a multifamily tax exemption program.
Click on the Data link to view projects, updates to City Council, and demographic profiles.
A large majority of job growth comes from existing businesses. Our Business Retention and Expansion (BRE) program is designed to: 1) Retain or keep existing businesses in the community; and 2) Provide assistance for existing businesses to expand. BRE is applicable to all businesses in the community, from small mom-and-pop shops to large national employers, and all industries, particularly trade-based or primary companies that bring in new dollars to the City, County, and State.
BRE and business attraction go hand in hand when developing a community. The City of Lakewood has three retail trade areas, Lakewood Towne Center, an International District, and the Pacific Highway Transit Oriented Commercial area on Pacific Highway adjacent with I-5. Lakewood has a large industrial park, and additional industrial lands available for development. Opportunities are abundant, and many properties are ripe for redevelopment.
Lakewood has a wide range of affordable to high end residential offerings. Our plan incudes increasing the variety of living spaces such as live-work units, mixed residential, garden style living communities, and middle market homes. Lakewood Washington is a great place to live and to build a business.
View the Economic Vitality Strategy for information on our target areas for development.
Lakewood is a business friendly community located next to the I-5 corridor and conveniently located just south of Tacoma between Sea-Tac International Airport to the north and the city of Olympia to the south. Host community to Joint Base Lewis-McChord, Lakewood has a strong business district, industrial business parks, three retail trade areas, great educational opportunities, a talented workforce, and exceptional resources to help businesses succeed. This coupled with the Sounder commuter rail service connecting Lakewood to Seattle, make the City a major transportation hub for the lower Puget Sound region.
The city offers several beautiful parks, lakes, open spaces, historic treasures, shopping and diversified residential opportunities from affordable to high-end lakeside living. Investments in major capital improvements to corridors have improved safety, traffic flow, aesthetics, and multi-modal access, and will continue to grow the business community for years to come.
Lakewood Washington is centrally located and perfectly positioned for future hospitality and tourism operators, and destination retail on a global scale.