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New Web Tool Highlights Bottom Line Opportunities of Choosing Renton

Businesses can calculate their potential savings at www.TheRentonFormula.com

April 3, 2009

For more information contact:

Alex Pietsch, Community & Economic Development Administrator, 425-430-6592, apietsch@rentonwa.gov
Suzanne Dale Estey, Economic Development Director, 425-430-6591, sdaleestey@rentonwa.gov
Kelley Balcomb-Bartok, Communication Specialist, 425-430-6522

RENTON — What is the formula for success in today’s economy? The City of Renton has the answer, and they’re putting it online for everyone to see.

“In today’s turbulent economy, businesses must be more focused than ever before on the bottom line,” said Renton Mayor Denis Law.  “We’ve developed a new website, www.TheRentonFormula.com, to help businesses calculate the bottom line advantages of doing business in Renton. We believe that when businesses add up ‘Opportunity + Quality + Value’, they will choose Renton as the place to locate their business.”

The new website offers businesses a way to calculate bottom line savings in areas such as lease rate, local business and occupation taxes, and employee parking costs.  Here are some sample savings by choosing Renton:

  • A business leasing 20,000 square feet and paying $30 a square foot will save $168,000 on average annually by leasing space in Renton.
  • Renton has no local business and occupation tax, so a service business making $5 million in gross revenue would save $83,000 annually per year if currently in Seattle and save $20,000 annually per year if currently in Bellevue.
  • With free employee parking in Renton, a business that pays for parking for 20 employees would save $84,000 per year compared to Seattle, and $72,000 per year compared to Bellevue.

“Businesses relocating to Renton can save $335,000 annually over a Seattle location and $260,000 over a Bellevue location by simply choosing Renton,” said Mayor Law.  “Renton is today’s smart strategic investment.”

On the web:
www.TheRentonFormula.com

http://rentonwa.gov/business