Russell Investments moves to Seattle

Russell’s announcement today that they are moving to Seattle from Tacoma is a blow to Tacoma’s history, values and future. Russell has been a part of Tacoma for generations and the move is deeply painful for that community. I feel badly for the community and the residents of Tacoma on many levels.
The deeper lesson is also that we need to think and act regionally. This was not a Seattle vs. Tacoma battle by any stretch. This was about ensuring Russell stayed in the Pacific Northwest and in Washington. On a structural level, while some will argue that businesses make decisions in large part because of government tax breaks, incentives and investments, I strongly reject that idea. I believe most business decisions are made because of the core business criteria not government handouts. The only thing government can do really well–the best incentive deal we can offer business–is a well trained workforce. That means investing in life long education (k-12 and higher education and workforce development).
Of course, I’m pleased that Russell is staying in the Seattle-Tacoma area, but the loss to Tacoma–in pride, community infrastructure, employees, history and role–is greater than the gain to Seattle. The Tacoma community (political, business, community, non profit and others) did all they could. The company leadership made the decision they made based upon their view of the best long-term interests.
I offer my best to the good folks of Tacoma as they grapple with the implications of this profoundly important and serious decision. I welcome Russell to Seattle but do so with a heavy heart, knowing the decision leaves a great deal of pain among our dear friends and neighbors to the south.




