Passage of Marine Tourism Bill Means Changes for Washington Super Yachts

BELLEVUE, Wash. - Aug. 20, 2015 - PRLog -- After more than four years legislative process, the Washington House of Representatives passed a bill allowing yachts registered as an LLC, which includes most super yachts, to remain in Washington waters for 180 days, an increase from the previous duration of 30, before having a 10% tax on the value of the boat imposed.

Bellevue based Hebert Research performed extensive research during the bill’s development, exploring effects the bill would have on the local boating industry and assessing the revenue generation for the Washington economy.

Hebert Research found that these super yachts currently bring in over $434 million a year in economic activity for Washington and creates 1.923 jobs with $110.2 million in labor income.

 The passage of the bill would boost that revenue an additional $32.1 million per year in direct spending and $47.1 million a year in total economic activity, with an additional 370 jobs and $19.6 million in labor income per year.

The bill’s passage is being celebrated by the Washington maritime industry, who are greatly optimistic of the effects it will have on the economy and the revenue and jobs it will create.

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http://hebertresearch.com/passage-of-marine-tourism-bill-...