Washington business leaders are raising fresh concerns about the state’s economic direction after Seattle Kraken CEO Tod Leiweke warned that some companies are considering leaving Washington. Speaking at a major business event in Seattle, Leiweke urged state leaders to focus on long-term financial planning and restoring confidence among employers.
Leiweke delivered his remarks during the Economic Future Solutions Summit, an event hosted by the Association of Washington Business Institute and the Washington Roundtable. The discussion brought together business executives to examine the state’s economic outlook and future challenges.
The Kraken CEO, who has also played a leading role in efforts to bring the NBA’s SuperSonics back to Seattle, said he is increasingly concerned about the mood within Washington’s business community. According to Leiweke, many executives are questioning whether the state remains the best place to grow their companies.
He said the concern extends beyond recently approved tax policies. Although a new income tax on high earners has received significant public attention, Leiweke explained that the tax itself is not his primary concern. He said he expects to pay the tax and does not view it as the central issue facing the state’s economy.
Instead, Leiweke pointed to what he described as growing government spending without a clear long-term financial strategy. He argued that Washington needs stronger fiscal planning to maintain economic stability while continuing to support public services.
Leiweke, who described himself as a lifelong Democrat, said political leaders should focus on creating a balanced financial plan. He said Washington can remain a state with progressive policies while also maintaining responsible budget management.
During the discussion, Leiweke expressed concern about the confidence of business leaders across the state. He said he has not seen this level of uncertainty among employers during his career. According to him, many executives are worried about the state’s financial direction and future economic climate.
He also referred to recent reports from credit rating agencies that indicated Washington’s financial outlook has become less favorable. Leiweke said those reports should encourage lawmakers to review the state’s long-term fiscal strategy and spending priorities.
Another issue he highlighted involved the state’s decision to use funds from an overfunded public pension plan to help support other parts of the budget. Leiweke questioned whether that approach represents sustainable financial management and suggested it could create future challenges.
He also argued that taxpayers should receive greater value from government spending. In his view, public resources should be managed more efficiently to strengthen both the economy and public confidence.
Leiweke said he has spoken with many business leaders who are considering moving operations outside Washington. While he did not identify most of the companies involved, he said the conversations reflect growing concern within the private sector.
As one example, he pointed to Starbucks’ decision to expand operations in Nashville. He noted that Starbucks was founded in Washington and said its expansion elsewhere reflects increased competition among states seeking business investment.
According to Leiweke, other companies are also discussing whether to relocate or expand outside Washington. He believes state leaders should act quickly to prevent more businesses from considering similar moves in the future.
The panel also included Denise Moriguchi, president and chief executive officer of Uwajimaya, and Kerri Schroeder, a managing director at JPMorgan Chase. The discussion focused on Washington’s economic future, business competitiveness, and the importance of maintaining a strong investment climate.
Business organizations continue to emphasize that predictable fiscal policies, responsible budgeting, and a competitive economic environment are important factors when companies decide where to invest and create jobs.
Leiweke’s comments add to the ongoing debate over Washington’s financial policies and economic priorities. While opinions differ on how the state should balance spending and revenue, business leaders and policymakers are expected to continue discussing ways to strengthen economic growth and maintain Washington’s position as an attractive place for businesses to invest and expand.
