Downtown Seattle Lost 30,000 Jobs Since 2020 Payroll Tax: Report
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Authored by Dylan Morgan via The Epoch Times,
A new report from the Downtown Seattle Association published June 15 stated that downtown Seattle has lost around 30,000 jobs since 2020, when city leaders passed the “JumpStart” business tax, while neighboring Bellevue has become more attractive for businesses.
“What we have seen in downtown Seattle is not a ‘jump start,’ but instead, a slowdown,” the report stated.
“Seattle has become a tax outlier in the region, and it’s costing the city jobs and tax revenue, while shifting the property tax burden to residents and small businesses, worsening overall affordability in the city.”
The nonprofit membership organization said it conducted an audit comparing the city’s tax environment and business climate with that of Bellevue.
In 2020, the City Council said the “JumpStart Tax,” which currently taxes Seattle businesses that pay more than $9,074,409 on payroll expenses with at least one employee making over $194,452, was to address COVID-19 economic impacts as well as to support existing city services and new affordable housing.
“We are in the midst of a health and economic crisis that even a strong economy like Seattle may not be able to recover from quickly,” Councilmember Teresa Mosqueda said in 2020.
“JumpStart Seattle will ... jump start our recovery with a relief plan that centers workers, small businesses and our most vulnerable community members.”
The report found the tax costs Seattle businesses between $1,450 and $9,390 per employee.
In 2026, the JumpStart tax is projected to bring in $410 million.
Bellevue has no such tax.
The report also showed that Seattle property tax compared to property value had increased nearly 48 percent from $3.79 per $1,000 in 2019, to $5.60 in 2026.
In that same time, Bellevue property tax decreased from $3.72 per $1,000 to $3.12, an approximately 19 percent drop.
It said that downtown Seattle’s office properties have fallen 48 percent in value between 2020 and 2025, while downtown Bellevue’s had increased 7 percent during that same period.
It added that Seattle’s Central Business District had an office vacancy rate of 6.7 percent in 2019, which climbed to 32 percent in 2025, while Bellevue’s rose from 2.5 percent to 24 percent in that period.
“When comparing business tax burdens and broader tax trends in Seattle and Bellevue, the contrast is clear: Bellevue’s more favorable tax climate has made it increasingly attractive to employers and investment relative to Seattle,” the report said.
The Epoch Times reached out to the Seattle City Council but did not receive a response by publication.
Amazon, which is headquartered in Seattle, has been gradually increasing its footprint in Bellevue, as the company said it became the city’s largest employer, growing from 450 employees in 2017 to more than 15,000 this year.
The company’s footprint expansion in Bellevue has also come with significant investment outside of office space. It committed $100 million to fund affordable housing initiatives in Bellevue and $22.6 million for local transportation projects.
Related Markets
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- • Seattle lost 30,000 downtown jobs and saw office values drop 48 percent since the 2020 JumpStart payroll tax.
- • Downtown office vacancy rates climbed to 32 percent while Bellevue's market remained significantly more stable.
- • The JumpStart tax targets large employers, whereas Bellevue maintains a more favorable tax environment for business growth.
Seattle implemented the JumpStart tax in 2020 to fund city services and affordable housing under the guise of pandemic recovery. This policy has coincided with a massive exodus of capital and employment to neighboring Bellevue.
Christian Perspective
The redistribution of wealth through punitive taxation violates the principle of stewardship and the right to the fruits of one's labor. Seattle's leadership is prioritizing secular social engineering over the economic stability required to support healthy, traditional families. This approach punishes productivity to fund bureaucratic expansion.
Implications
Economic decay in urban centers undermines the ability of men to provide for their households and protect their families. When cities become hostile to industry, they become breeding grounds for the degeneracy and lawlessness that follow social instability. A weakened economy directly threatens the strength of the American family unit.
Broader Trends
This reflects a wider pattern of radical leftist governance attempting to dismantle the traditional economic order through aggressive taxation and social mandates. These policies drive capital toward more stable, conservative-leaning jurisdictions that respect property rights. It is a clear example of the failure of liberal urbanism.
Takeaway
America First principles demand the protection of domestic industry and the rejection of predatory taxation. We must support leaders who prioritize economic vitality and local sovereignty over globalist social agendas. Strengthening the economic foundation of our communities is essential to preserving our national heritage.
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