Seattle could lose $750M as Starbucks expands in Tennessee, adds 2,000 jobs
Fox Business • • business
Key Points:
- Seattle risks losing up to $750 million in tax revenue as Starbucks expands its operations in Nashville, Tennessee, investing $100 million and creating 2,000 new jobs there.
- Starbucks’ new Nashville office will support expansion and rising customer demand in the southeastern U.S., while maintaining close ties with its Seattle headquarters.
- Tennessee Governor Bill Lee welcomed Starbucks' investment, contrasting with Seattle Mayor Katie Wilson’s previous call for a boycott of the company amid union disputes.
- Washington state’s business climate ranking dropped from 6th in 2014 to 45th in 2026, partly due to the recent passage of a "millionaires tax" that imposes a 9.9% income tax on households earning over $1 million annually, effective in 2028.
- The tax, supported by progressives and opposed by conservatives, may be contributing to businesses like Starbucks expanding outside Washington, potentially impacting local tax revenues and economic growth.
