[Congressional Record Volume 154, Number 66 (Thursday, April 24, 2008)]
[Extensions of Remarks]
[Page E728]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


[[Page E728]]
          BELLEVUE: THE #1 CITY IN AMERICA FOR SMALL BUSINESS

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                         HON. DAVID G. REICHERT

                             of washington

                    in the house of representatives

                        Thursday, April 24, 2008

  Mr. REICHERT. Madam Speaker, I rise to congratulate the City of 
Bellevue, Washington, for being named the best place in the Nation to 
live and launch a business by Fortune Small Business. Anyone who has 
visited in the past decade couldn't help but notice the abundance of 
construction cranes throughout the downtown area. They would also 
quickly realize that Bellevue embodies the true spirit of American 
innovation. I'm proud to represent this city that lies within the 
Eighth Congressional District of Washington.
  Bellevue is a worthy recipient of this honor, with its growing 
downtown and natural beauty thanks to its proximity to the Cascade 
Mountains and breathtaking Mount Rainier. Citizens can enjoy the 90 
city parks or nearby views of Lake Washington. With multiple high-tech 
corporations in the city, Bellevue draws a talented, high-tech 
workforce that embodies the entrepreneurial spirit that grows our 
economy and creates jobs.
  As we celebrate the achievements of small businesses across the 
Nation during ``Small Business Week,'' it is my hope that cities across 
the country follow Bellevue's lead and embrace their entrepreneurial 
spirit. Small businesses are the backbone of our economy, and provide 
the key to our economy's resilience in uncertain economic times. Today, 
I'm proud to honor the City of Bellevue for its achievements in 
creating one of the finest places in America to live and work.
  I ask for unanimous consent to insert the following article into the 
record.

  The No. 1 Champion: Bellevue, Wash. Abundant Tech Talent. Gorgeous 
                  Views. (But Costly Homes and Taxes.)

                    (By Mina Kimes, March 26, 2008)

       BELLEVUE, WASH. (FORTUNE Small Business)--Earl Overstreet, 
     Chief Executive Officer of General Microsystems (GMI) in 
     Bellevue, travels fewer than five times a year for business. 
     But he visits the Mercer Slough Nature Park, across the 
     street from his office, every day on his lunch break. He 
     walks across a wooden bridge, gazes at Bellevue's rising 
     downtown--and then turns away.
       Over the past ten years Overstreet has watched the city 
     evolve from a bedroom community into an urban center of 
     skyscrapers and 117,000 inhabitants (the latest population 
     figures, according to the local chamber of commerce), but 
     he's more eager to point out blackberry bushes and red-tailed 
     hawks.
       ``When you're surrounded by mountains and nature,'' he 
     says, ``you can't help but be content.''
       Overstreet, 60, and his wife, Barb, the firm's CFO, spend 
     free time hiking, kayaking, and biking around the area. While 
     new businesses are cropping up quickly, most office buildings 
     are still enveloped by greenery--the city boasts 90 parks and 
     50 miles of trail. ``Taxes [including a 0.1496% business tax 
     on gross receipts] and property costs are high,'' says 
     Overstreet, ``but it's a premium for the living conditions.''
       The median home sale price hovers at $500,000 (the metro 
     area averages about $400,000), but Bellevue, lying 20 minutes 
     from Seattle, also boasts low crime rates, great schools, and 
     excellent health care. Nearly 60% of locals over 25 have at 
     least a bachelor's degree. The city expects to add 15,500 
     jobs by 2010, up 11.5% from 2006. Bellevue's strategic 
     location helps tire growth. GMI, whose revenue rose from $6 
     million in 2002 to $28 million last year, is based near its 
     suppliers--Hitachi, Symantec, Sun Microsystems--as well as 
     customers such as Boeing and Starbucks.
       ``Many of our employees came from our clients,'' Overstreet 
     says.
       The city is also a font of tech talent, thanks to the 
     Microsoft campus in nearby Redmond. Many former Microsofties 
     have launched startups in Bellevue. Current employees pour 
     wealth into a growing service sector.
       Overstreet points out that many small businesses in 
     Bellevue operate globally--not surprising considering that 
     40% of the population is nonwhite or foreign-born. ``We do 
     have a glittering downtown now,'' he says, ``but it's the 
     diversity that attracts entrepreneurs like me.''

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