From Seattletimes · · 50s
Columbia Bank Adds Arizona Offices Amid Tax Shifts
Columbia Bank plans Arizona expansion after Washington state taxes increase costs.
In brief
Columbia Bank plans Arizona expansion after Washington state taxes increase costs. Columbia Bank will open Arizona offices to reduce Washington state tax expenses. Originally reported by Seattletimes.
Columbia Bank Expansion Plan
Columbia Bank says new Washington state taxes factored into its Arizona expansion plan.
Arizona Office Opening
Columbia Bank will open a 13,500-square-foot office near Scottsdale by end of October.
Tax Impact on Operations
Washington’s business tax increases add $8 million yearly expenses for Columbia Bank.
CEO’s Relocation Strategy
CEO Clint Stein says executives spend less time in Tacoma and may shift operations to Arizona.
Potential Tax Shifts
Columbia Bank would move non-customer-facing roles to Idaho and Arizona if Washington approves a payroll tax.
State Tax Debate Intensifies
Starbucks and Janicki Industries also shifting operations to states with lower taxes.
The bottom line
Columbia Bank will open Arizona offices to reduce Washington state tax expenses.
