SB 5244

This bill amends Washington State's Invest in Washington Act to expand and encourage manufacturing investments, particularly in advanced nuclear reactor technology. The legislation removes previous geographic restrictions that limited tax deferrals to just two manufacturing facilities per year (one in eastern and one in western Washington) and instead opens the program to any new, renovated, or expanded manufacturing operations, with specific encouragement for facilities producing advanced nuclear reactors, small modular reactors, or their components. The bill provides sales and use tax deferrals on construction and equipment costs for qualifying manufacturing facilities, with the deferred taxes later being reinvested into workforce training programs for manufacturing jobs. The program, which serves as a pilot to evaluate the effectiveness of using tax incentives to create jobs and support workforce development, is extended from its original 2026 expiration date to 2031.