Seattle’s booming economy has worsened an acute housing shortage.
In response, the city council recently passed a new tax that will impose a levy on companies with annual revenues of $20 million of about $275 per full-time employee every year. The new so-called “Amazon tax” takes effect in January 2019, and is expected to raise almost $45 million a year for five years.
Roughly 60% of the revenue will help fund new affordable housing, and 40% will go toward emergency services for the homeless. Seattle leads the nation in crane count for major U.S. metros, but the new tax may throw cold water on the hot construction market.
The city is coping with a growing homeless population, and many supporters of the head tax argue that the growth of tech companies like Amazon has contributed to the problem. Highly paid tech workers have been buying homes at a rapid pace, with prices rising quickly.
Related Stories
| Oct 6, 2011
RoofPoint: A new green standard for roofs
Structured much like other rating systems, RoofPoint, establishes green standards specifically for roofs.
| Oct 6, 2011
Roofers critical of new OSHA harness rules
Roofers say a new OSHA rule requiring all residential roofers to wear a safety harness makes workers less safe, and is causing lost business for those who comply with the rule.
| Oct 6, 2011
Florida county proposes saving on construction costs by trumping city regulations
This summer, Pinellas County, FL wanted to save money on an $81 million public safety complex in Largo by using the county’s own building regulations and permit fees, not the city’s more expensive fees.
| Sep 30, 2011
OSHA Releases New Nail Gun Safety Document
The Occupational Safety and Health Administration and the National Institute for Occupational Safety and Health have developed a new guidance document, Nail Gun Safety—A Guide for Construction Contractors.
| Sep 30, 2011
Cement Industry Advocates For Environmental Regulatory Relief
EPA regulations impacting the cement industry could force the closure of 18 of the nearly 100 US cement plants and cost 4,000 manufacturing jobs .
| Sep 30, 2011
IRS Releases New Rule On Reclassifying Independent Contractors
The Internal Revenue Service (IRS) has a new Voluntary Classification Settlement Program that allows an employer to reclassify independent contractors as employees if those workers previously were misclassified.
| Sep 29, 2011
Illinois Grapples With Definition of ‘Clean’ Construction Debris
The Illinois Pollution Control Board holds hearings this week about construction debris rules proposed by the state Environmental Protection Agency.
| Sep 15, 2011
Alabama Prepares First Statewide Residential Building Code
Following a series of devastating tornadoes that ripped through Alabama on April 27th, the state is preparing to implement the first statewide building code for residential structures.
| Sep 15, 2011
New Label Established For Energy Efficient Doors in UK
The British Fenestration Ratings Council (BFRC) has established a labelling program for all types of domestic pedestrian doors.
| Sep 15, 2011
EPA Releases New High-Rise Residential Energy Star Rating
The U.S. Environmental Protection Agency recently announced an Energy Star rating for multi-family high-rise buildings.
