Madam Speaker, I rise to congratulate the City of Bellevue, Washington, for being named the best place in the Nation to live and launch a business by Fortune Small Business. Anyone who has visited in the past decade couldn't help but…
Madam Speaker, I rise to congratulate the City of Bellevue, Washington, for being named the best place in the Nation to live and launch a business by Fortune Small Business. Anyone who has visited in the past decade couldn't help but notice the abundance of construction cranes throughout the downtown area. They would also quickly realize that Bellevue embodies the true spirit of American innovation. I'm proud to represent this city that lies within the Eighth Congressional District of Washington.
Bellevue is a worthy recipient of this honor, with its growing downtown and natural beauty thanks to its proximity to the Cascade Mountains and breathtaking Mount Rainier. Citizens can enjoy the 90 city parks or nearby views of Lake Washington. With multiple high-tech corporations in the city, Bellevue draws a talented, high-tech workforce that embodies the entrepreneurial spirit that grows our economy and creates jobs.
As we celebrate the achievements of small businesses across the Nation during ``Small Business Week,'' it is my hope that cities across the country follow Bellevue's lead and embrace their entrepreneurial spirit. Small businesses are the backbone of our economy, and provide the key to our economy's resilience in uncertain economic times. Today, I'm proud to honor the City of Bellevue for its achievements in creating one of the finest places in America to live and work.
I ask for unanimous consent to insert the following article into the record.
The No. 1 Champion: Bellevue, Wash. Abundant Tech Talent. Gorgeous
Views. (But Costly Homes and Taxes.)
(By Mina Kimes, March 26, 2008)
BELLEVUE, WASH. (FORTUNE Small Business)--Earl Overstreet,
Chief Executive Officer of General Microsystems (GMI) in
Bellevue, travels fewer than five times a year for business.
But he visits the Mercer Slough Nature Park, across the
street from his office, every day on his lunch break. He
walks across a wooden bridge, gazes at Bellevue's rising
downtown--and then turns away.
Over the past ten years Overstreet has watched the city
evolve from a bedroom community into an urban center of
skyscrapers and 117,000 inhabitants (the latest population
figures, according to the local chamber of commerce), but
he's more eager to point out blackberry bushes and red-tailed
hawks.
``When you're surrounded by mountains and nature,'' he
says, ``you can't help but be content.''
Overstreet, 60, and his wife, Barb, the firm's CFO, spend
free time hiking, kayaking, and biking around the area. While
new businesses are cropping up quickly, most office buildings
are still enveloped by greenery--the city boasts 90 parks and
50 miles of trail. ``Taxes [including a 0.1496% business tax
on gross receipts] and property costs are high,'' says
Overstreet, ``but it's a premium for the living conditions.''
The median home sale price hovers at $500,000 (the metro
area averages about $400,000), but Bellevue, lying 20 minutes
from Seattle, also boasts low crime rates, great schools, and
excellent health care. Nearly 60% of locals over 25 have at
least a bachelor's degree. The city expects to add 15,500
jobs by 2010, up 11.5% from 2006. Bellevue's strategic
location helps tire growth. GMI, whose revenue rose from $6
million in 2002 to $28 million last year, is based near its
suppliers--Hitachi, Symantec, Sun Microsystems--as well as
customers such as Boeing and Starbucks.
``Many of our employees came from our clients,'' Overstreet
says.
The city is also a font of tech talent, thanks to the
Microsoft campus in nearby Redmond. Many former Microsofties
have launched startups in Bellevue. Current employees pour
wealth into a growing service sector.
Overstreet points out that many small businesses in
Bellevue operate globally--not surprising considering that
40% of the population is nonwhite or foreign-born. ``We do
have a glittering downtown now,'' he says, ``but it's the
diversity that attracts entrepreneurs like me.''