Small business owners across Washington State welcome the recent announcement that the state’s industrial insurance rates will be about one-half the amount of the original proposal. “This keeps about $120 million into the state’s economy instead of it going into the government’s coffers,” stated Gary Smith, executive director of the Redmond-based Independent Business Association (IBA). “Small businesses across Washington State are just struggling to survive currently. Higher state-imposed costs will only hurt them more and force far too many out of business and eliminate the jobs they provide.”

There are over 160,000 businesses in Washington; most of them are small businesses. “If we can help half of the small businesses to hire just one more employee, we will go along way in reducing our state’s unemployment and putting workers back to work,” Smith explained.

This reduction in the increase is a good step, but the IBA believes more needs to be done. The group will be joining others from the business community and hopefully the Department of Labor and Industries (L&I) to find cost saving improvements to the program while assuring injured workers with real claims receive fair and prompt medical treatment and wage replacement benefits.