Business Briefs

GGHI to host annual Leaders Banquet

Greater Grays Harbor Inc. will host its annual Leaders Banquet and Business Recognition Awards on Friday, Oct. 18, from 5:30 p.m. to 9 p.m. at Quinault Beach Resort and Casino in Ocean Shores.

Prior to the event, members of GGHI nominate deserving businesses and organizations for various awards. This year’s nominees include:

Small Business: Aberdeen Art Center, Jitter House, B&B Automotive and Granny Hazel’s Candy & Gifts.

Non-Profit: Grays Harbor CASA, Elma Chamber of Commerce, Connections: Center for Healthy Families and Coastal Community Action Program (CCAP).

New Business: Honda of Grays Harbor, Coastline Sign, Bounce About NW and Mount Olympus Brewing Company.

Large Business: Ocean Spray, Summit Pacific Medical Center, Sierra Pacific and Timberland Bank.

The John Loyle Spirit of the Community Award is also presented to a community member whose efforts are targeted toward enhancing our area’s reputation and promoting our community and businesses. The winner of each category will be announced that evening.

During the banquet, there will be a live and silent auction featuring many exciting travel packages and weekend getaways, including a seven day Holland America cruise. Additionally, this event also raises funds for the GGHI Educational Fund, a cause that’s dedicated to supporting entrepreneurship and career and technical education opportunities for high school students.

The cost to attend is $70 per person with a price increase to $80 after Oct. 2. Table sponsor packages are also available. For more information, please contact candie@graysharbor.org or call (360) 532-7888 to RSVP.

L&I proposes decrease in average workers’ comp rates

TUMWATER — The price of workers’ compensation insurance in Washington would drop for the third year in a row under a proposal by the Washington Department of Labor & Industries (L&I).

Today L&I proposed a 0.8 percent decrease in the average premium employers would pay for the coverage in 2020.

“Workplace injury rates in Washington are declining, and we’ve had great success in recent years helping injured workers heal and return to work,” said L&I Director Joel Sacks. “That’s good for everyone and is helping us keep the price of workers’ compensation insurance down.”

In 2018 the average workers’ compensation premium rate dropped by 2.5 percent. L&I lowered the 2019 rate by another five percent, the largest decline in more than 10 years.

Employers would pay less under 2020 proposal

The proposed decrease would mean Washington employers, as a group, pay a total of $21 million less in premiums.

The price drop would result in employers paying an average of about $15 less a year per employee for workers’ compensation coverage. Employees would see a very small increase in the amount they pay because of a rise in costs related to the supplemental pension fund, due to an increase in the average wage in Washington. The supplemental pension fund supports cost-of-living adjustments for long-term time-loss and pension benefits.

The public will have an opportunity to provide input about the rate proposal before a final decision is made in late November.

More information about the proposal is available at www.Lni.wa.gov/Rates. Final rates will be adopted by early December and go into effect Jan. 1, 2020.

 

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