Businesses, Why Lakewood?

Conveniently located halfway between Seattle and Olympia, Lakewood is the host community to Joint Base Lewis-McChord and Camp Murray. We are home to several beautiful lakes and wonderful historic treasures such as Fort Steilacoom Park, Lakewold Gardens and Thornewood Castle.  Lakewood is an ideal place to shop or lodge while visiting local destinations like Mount Rainier or Chambers Bay.

Lakewood is just minutes away from Puget Sound and the Port of Tacoma and just a short drive to Sea-Tac International Airport .  With great educational opportunities, a strong business district, and numerous recreational opportunities, Lakewood is a great place to locate!

Lakewood has no B&O Tax

Businesses in Lakewood profit from the absence of a local Business and Occupation (B&O) tax, which is imposed by many Washington cities. 

Business Advantages

  • Lakewood is conveniently located just south of Tacoma and halfway between Sea-Tac International Airport to the north and the city of Olympia to the south
  • Lakewood’s position at the junction of I-5, SR-512, and US Hwy 99 coupled with light rail access, make the City a major transportation hub for the lower Puget Sound region
  • Direct light rail commuter service from Lakewood to Seattle and connections to Everett
  • Diversified residential opportunities in Lakewood at affordable prices
  • Lakewood has invested over $36 million in Capital Improvements over the past 12 years.  The primary focus has been on the City’s major corridors to help improve safety, traffic flow, aesthetics, and multi-modal access
  • Several beautiful parks, lakes, and open spaces
  • Resources to help businesses succeed

Business License Fee

A General Business License fee is a reasonable flat fee of $60 in Lakewood.

Development Target Priorities

The City Council has prioritized economic development and instructed staff to especially look for business development opportunities in the following five areas (in alphabetic order):

  • Colonial Center - Built in 1937 and one of the first U.S. suburban shopping centers and currently housing the Lakewood Historical Society & History Museum, a restaurant, and a blend of interior design and service-oriented businesses.
  • Lakewood Towne Center - is conveniently located in central Lakewood and providing an exceptional mix of stores and restaurants to serve your shopping and entertainment needs.
  • Pacific Highway   – Pacific Hwy is immediately adjacent to I-5 and US Hwy 99, approximately two and a half miles in length with five freeway exits.
  • Tillicum – Tillicum offers untapped opportunities with public waterfront access and a public park, I-5 freeway frontage, and close proximity to JBLM and Madigan Hospital.
  • Woodbrook Business Park - 117+ acres zoned industrial and bound on the south by JBLM, east by Woodbrook Drive, north by residential area and JBLM, and west by Woodbrook Middle School.