The bill aims to accelerate job growth in rural Washington and promote economic recovery through site readiness grants. It recognizes the challenges faced by rural communities in accessing resources and emphasizes the importance of reliable infrastructure for economic development. The legislation intends to support site readiness and predevelopment work, providing businesses with the confidence to establish themselves in Washington communities.

Key amendments to existing law include the addition of provisions for grants that cover costs related to achieving site readiness, with a cap of $200,000 for such grants after December 31, 2028. The bill also mandates biennial evaluations of the financial assistance provided, detailing various metrics such as the number of applications, types of projects, job creation, and the involvement of minority and veteran-owned businesses. These changes aim to ensure that public investments effectively contribute to job creation and economic revitalization in rural areas.

Statutes affected:
Original Bill: 43.160.060
Substitute Bill: 43.160.060, 43.160.900