Lakewood has 65,000 residents and approximately 5,000 businesses. There are three retail trade areas, Lakewood Towne Center, Pacific Highway, the the International District.
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About Lakewood
Lakewood has over 60,000 residents, over 5,000 businesses, and three retail trade areas. These are the Towne Center/Colonial Center, Pacific Highway, and the International District. The city is also home to the excellent Clover Park School District and two colleges: Pierce College and Clover Park Technical College. We have multiple ta
Lakewood is the host community to Joint Base Lewis-McChord (JBLM). JBLM is one of the largest military installations in the United States. It also hosts Camp Murray, the headquarters of the Washington Military Defense Army and Air National Guard. America’s Promise Alliance has named Lakewood as one of the nation’s “100 Best Communities for Young People” five years in a row. Economic development and job creation are top priorities for the City of Lakewood.
The City has established a positive business climate to help Lakewood businesses compete in the marketplace. For example, Lakewood has no development impact fees, except for a potential traffic mitigation fee in the downtown for more intensive uses. There is no local Business & Occupation (B&O) tax, and we strive to provide wrap-around service to help businesses navigate the permitting process, apply for financing, and recruit a trained workforce.
You can view Target Areas for Development on our Build Your Better Here site.
Choose Lakewood
Lakewood is more than an advantageous place to invest and do business – it’s a great place to live. We have exceptional schools, a vibrant mix of cultures, recreational amenities, natural beauty, and housing choices from affordable to picturesque lakeside living.
Economic Points of Interest
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 500-year-old Thornewood Castle. Lakewood is an ideal place to shop or stay while visiting local destinations like Mount Rainier or Chambers Bay.
Lakewood is minutes away from Puget Sound and the Port of Tacoma and 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!
The Port of Tacoma is 13 miles north of Lakewood on I-5.
A 2019 study highlights the economic impact the Port of Tacoma had on real estate and marine cargo operations in 2017. According to the study, the Port of Tacoma:
- Supported more than 42,100 jobs
- Generated nearly $3 billion in labor income
- Produced more than $100 million annually in state and local taxes to support education, police, fire services, and road improvements
Joint Base Lewis-McChord (JBLM) is located adjacent to the city of Lakewood. A recent University of Washington – Tacoma Milgard School of Business Center for Business Analytics study found that JBLM contributes more than $14 billion to the region’s economy. In addition, JBLM drives job creation and statewide tax revenue.
Watch this video from Pierce County TV on JBLM’s impact on the region.
Lakewood Industrial Park features 26 buildings totaling over 2 million square feet of distribution, warehouse and manufacturing facilities. The Park also offers:
- Foreign Trade Zone #86 designation
- Excellent location adjacent to I-5 and SR-512
- Spacious truck maneuverability within the Park
- Flexible warehouse space from 5,000 to 150,000 SF
The Lakewood Towne Center is located within the City’s Downtown Subarea Plan. Close to I-5 and SR 512, and Lakewood Station, serving the Sounder and Amtrak trains.
Downtown will become a mixed-use, high amenity neighborhood. Over 2,250 attached housing units are planned with most in a mixed-use design. A planned action ordinance streamlines environmental review over 20 years, allowing development that fits the vision to move forward faster and at less cost.
Data
All links below lead to a PDF document unless stated otherwise.
- Lakewood Fact Sheet
- 2023 Annual Business Retention and Expansion Report
- 2024 Q2 Economic Indicators Report
- 2024 Contaminated Sites Report
- Demographics (U.S. Census Website)
Business Incentives
Businesses in Lakewood profit from the absence of a local Business and Occupation (B&O) tax and traffic impact fees, which are imposed by many Washington state cities. Businesses pay state minimum wage rates only (except for a traffic mitigation fee that may be assessed in Downtown for more intensive uses).
- Areas that qualify for Foreign Trade Zone #86 administered by the Port of Tacoma.
- Multi-Family Tax Exemption (MFTE) to encourage high-density urban residential development in selected areas within the City.
- Affordable Housing Development Incentives.
- Hybrid Form-Based Code Regulations and SEPA Planned Action Ordinances for the Downtown Subarea and the Station District Subarea.
- HUB Zone, EB5 foreign direct investment & New Market Tax Credit eligible areas.
- Three approved Opportunity Zones.
- Site selection and “wrap-around” business services.
- Workforce customized training.
- FREE construction watch program on new commercial developments for added security through our police department.
- Lakewood has invested over $150 million in capital improvements over the past 25 years. The primary focus has been on the City’s major corridors to help improve safety, traffic flow, aesthetics, and multi-modal access. Sidewalks, curbs, and bike lanes are being added to enhance connectivity. $25 million in park improvements are funded and additional infrastructure will be added annually.
Available Commercial Properties
Invest Pierce County is an extensive online search tool for the Commercial Broker Association (CBA) listings. This website gives business owners, brokers, site selectors, and communities access to a comprehensive search tool for free. Find available commercial, industrial sites, and buildings in Pierce County, along with demographics and analytics.
Interested in developing in Lakewood, but having trouble finding a place? Please let us know what type of property you are looking for and we can assist you in finding available properties and contact information for properties which are available for lease or purchase.
Government Contracting
Local, state, and federal governments all need services from private companies. Washington APEX Accelerator offers no-cost advice to businesses seeking to sell to government agencies. You may contact them for a 1-hour meeting with a counselor to get started. This helps to ensure that you are registering in all the right places and not wasting valuable time. No one should pay to sell to a government entity.
All businesses must sign up at Sam.gov to perform government contracting
Contact
Permit Center
[email protected] or call 253-512-2261. Pre-application and customer meetings are available. Permit Counter walk-ins welcome Tuesday-Thursday, 9 a.m. to 12 p.m. at Lakewood City Hall, 6000 Main St SW.
Business Licensing
[email protected] or 253-512-2261
Economic Development Manager – Becky Newton
(253) 983-7738
Email: [email protected]