Monday, February 18, 2008

Private Mint in Tacoma?

Can I just say now that I think this is very cool.

A private mint in Auburn is looking at possibly moving to Tacoma. Part of the theory is opening the mint factory up for tours to add another business line and get a little synergy going with the rest of the museums.

But I want to point out that we need more companies like this looking at moving Tacoma. There are a bunch of businesses in Tacoma that sell things, and that's great. But what we really need are companies that sell things to people who don't live in Tacoma. This company is the unofficial mint for 19 countries around the world, and the money that he makes (that doesn't go into the currency obviously) stays where his company and his employees are. Put him in Tacoma, and that money starts sticking around here, giving more of it to people to spend at the other businesses.

I know this is a pretty rough economic model here, but I think it's important to look at what kind of business we really need to make grow in the next 10 years. Big companies or small, whether you manage mutual funds or sell widgets on eBay ... if you're pulling money into Tacoma from elsewhere, keep it up! You're doing a good thing for Tacoma.

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