Thurston County investors drive $71M economic growth strategy 

The Thurston Economic Development Council (EDC) credited its investor network for generating $71.1 million in fiscal impact over the past year, while starting a campaign in August to expand private capital ahead of its fall planning cycle.  

The council announced in a statement on Tuesday, Aug. 19, that its 2024 year-end report reflected investor contributions that produced a five-year return of $22.86 per dollar. 

The funding strengthened Thurston County’s national standing in economic performance and income equity. 

The EDC also said programs supported by private capital created 380 jobs in the past year throughout Thurston County. The figures revealed how leveraged capital has become a driver of future competitiveness planning for 2026. 

Executive Director Michael Cade said the EDC is using summer benchmarking data to guide recruitment of new investors and leverage capital for federal and state grant programs. 

“Quite frankly, were it not for you, and our longtime investor (members), we would not (be) achieving such success," he said.

Cade added the EDC will target more businesses to join as investors, as the state enters its next budget cycle. 

Rankings 

Benchmarking data from summer meetings with state of Washington economic leaders placed Thurston County in the top tier nationally. 

By comparison, Cade said economic indices reported the following rankings: 

Milken Institute placed Thurston County ninth in its Best Economy Index and fourth in income equality this year citing pillars, including the Lacey MakerSpace, Agriculture Innovation Park, Craft Brewing and Distilling Center, and Arts Center for Entrepreneurs. 

Chmura Analytics ranked the county second in overall economy and first in high-tech job growth, while Pew Research Center reported that 66% of local households fall within the middle class, the highest proportion in the nation. 

Business Traveler magazine listed Thurston County as the second-best destination in the United States for women traveling for work. The publication highlighted the Washington Center for Women in Business, which launched 11 new firms and provided 426 hours of technical advising in the first half of 2025. 

Cade said the rankings provide a roadmap for policymakers and investors to focus resources on sectors with proven returns. 

Investor support 

On its approach to capital, the EDC said its strategy depends on investor contributions that act as working capital to unlock matched federal and state grants. 

Cade acknowledged the council’s business allies, including MultiCare Foundation, Rants Corporation, Rob Rice Homes, Harbor Wholesale, Sunset Air, Kidder Mathews, Olympic Rental, OlyFed, Cap City Law, Dickson Frohlich Phillips Burgess, KPFF Consulting Engineers, TwinStar Credit Union and NorthAmericaTalk for being the main contributors to the council’s capital leverage strategy in South Puget Sound. 

“Without the private sector investment, we cannot be as successful as we have been,” he said. 

The council is preparing to scale technical assistance programs and recruit more businesses into its membership network. 

To pursue membership or investment opportunities, businesses can reach Cade at mcade@thurstonedc.com or 360-480-8781.