Now Is the Time to Build Kitsap’s Industrial Future

Right now, Kitsap has a unique, one-time opportunity to seed economic growth that could benefit us for decades to come, creating hundreds if not thousands of well-paying family wage jobs.

We can do this by prioritizing growth of our industrial capacity, its underlying infrastructure, and standing up a modest amount of new industrial buildings.  

This is one key goal and intended outcome of the report that KEDA's releasing today, our Kitsap Industrial Land, Buildings and Infrastructure Survey. Conducted by economic researcher CAI, here are some remarkable data points to take away:

•    669,000 Square Feet of Demand. That's the total near and mid-term potential for industrial demand here in Kitsap: Take the immediate space the Navy is seeking right now (274,000), and add in the high side of KEDA's ten-year industrial demand forecast (395,000). KEDA's goal is to see 350,000 new square feet of industrial or commercial space created here by 2029.
•    1.8% Vacancy. That's the rate for Kitsap's industrial market as of fourth quarter 2024. Kitsap has faced ultra-low and declining vacancies in industrial since 2016. A healthy vacancy rate would be between 5 - 10%. 
•    40+ Years, 2 out of 3 Stars. The average age of industrial buildings in Kitsap is over 40 years. Meanwhile, the average quality assessment is 2.0 out of 3 stars, as ranked by CoStar.

There's plenty more in the report, including an analysis of how infrastructure needs to improve in order to accommodate this economic opportunity, the level of low industrial deliveries over the past decade, and how some communities—from Pierce County just down the road to Charleston, South Carolina across the country—are doing this right.  

Bottom line, the report's priority recommendation:

The most pressing near-term needs for the industrial market in general in Kitsap County – but also to be able to leverage the tremendous opportunity presented by SIOP – center on the creation of new industrial facilities and supporting infrastructure as quickly as possible, as well as marketing and connecting end users to specific opportunities.

Learn more about this remarkable and unique opportunity in front of our community:  Executive Summary (15 pages) Full Report (100+).