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Lynnwood · LYN-CP-2025 · Pages 192-211

Economic Development Element

The Economic Development Element establishes policies to support Lynnwood's transformation into a regional economic hub by concentrating employment growth in City Center + Alderwood and near high-capacity transit. It addresses workforce development, business retention and recruitment, tourism, and the need to diversify the economy beyond the retail sector while ensuring economic opportunities are equitably accessible to all residents. The element recognizes the importance of small businesses, women- and minority-owned enterprises, and culturally diverse establishments in building a resilient local economy.

Economic Development Economy Social Governance Taxes
Key Commitments
Employment target 50,540 jobs by 2044; MUGA employment target 8,009 by 2044; 35% of regional job growth through 2050
Goals (4 total)
  • ED Goal 1: Support and grow new and existing businesses that encourages new investments and job creation, and encourage a business climate that values diversity, equity, and inclusivity
  • ED Goal 2: Create a diverse business community that is sustainable and resilient
  • ED Goal 3: Strengthen and communicate Lynnwood's positive business climate and be a leader in economic development
  • ED Goal 4: Enhance Lynnwood's livability and unique sense of place that highlights equity, inclusion, and opportunity
Stronger Policy Language (9 policies)
  • ED Policy 2.2: Facilitate economic growth throughout the City in order to meet the City's anticipated employment growth targets, while achieving a balanced job-to-housing ratio.
  • ED Policy 2.3: Concentrate a significant amount of economic growth in Lynnwood's designated City Center + Alderwood subarea and near high-capacity transit...
  • ED Policy 2.8: Identify and implement strategies to maintain and diversify the City's tax base.
  • ED Policy 3.6: Ensure continued economic growth in the City by periodically reviewing and updating the City's zoning map and municipal code...
  • ED Policy 4.5: Identify and use a range of strategies to mitigate, to the extent feasible, the potential physical, economic, and cultural displacement of existing locally owned, small businesses...
Aspirational / Monitoring Language (19 policies)
  • ED Policy 1.5: Foster a supportive environment that encourages the establishment and growth of business startups, small businesses, locally owned, and women- and minority-owned businesses.
  • ED Policy 2.5: Ensure economic development sustains and respects the City's natural environment and encourage the further development of existing and emerging industries...
  • ED Policy 3.7: Support endeavors that promote tourism and hospitality to grow key related industries.
  • ED Policy 4.1: Maintain existing and foster new culturally diverse businesses that represent and serve the Lynnwood Community.
  • ED Policy 4.2: Maintain and enhance arts, parks, cultural events, hospitality, entertainment, cultural institutions, and public amenities throughout the City...

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