Part 5/10:
Washington’s tech sector, a historical powerhouse, is feeling the pinch. Smith noted that over-hiring during the pandemic led to a slowdown post-pandemic, with industry layoffs and a general cooling of the once-booming sector. On top of industry restructuring, the new taxes exacerbate the challenges. Some tech companies are contemplating or executing moves out of the state in search of more hospitable environments with lower taxes, less regulation, and more affordable living costs.