Bipartisan bill from Rep. Harris to assist the semiconductor industry signed into law by the governor

On Tuesday, the governor signed into law a bipartisan bill from Rep. Paul Harris that will provide a much-needed boost to the semiconductor industry in Washington.

House Bill 2482 will extend two tax preferences for semiconductor manufacturing until Jan. 1, 2034. The legislation also reinstates six tax preferences that expired on Jan. 1, 2024, and extends them until Jan. 1, 2034, contingent on new industry investment.

“We have two semiconductor manufacturers in Southwest Washington that provide more than 3,000 jobs combined in our communities,” said Harris, R-Vancouver. “These are good companies that play by the rules. They also play a key role in our local economy, especially in Clark County. This legislation is vital to these companies and our communities.”

Under House Bill 2482, the six expired tax preferences will be reinstated contingent upon the construction of a new semiconductor manufacturing fabrication facility built by Jan. 1, 2034, with an investment of at least $500 million in buildings and equipment.

“Southwest Washington was able to attract these companies to our area because we have a strong workforce and clean, affordable energy,” said Harris. “They have done everything we’ve asked of them, but they operate in a global economy, and we need to make sure they can remain competitive in the world market. I’m very pleased to see these important tax exemptions reinstated.”

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% are in Clark County.

The bill contains an emergency clause and will take effect immediately.

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Washington State House Republican Communications
houserepublicans.wa.gov