September 3, 2019
Fast Facts
Bringing Business Up to Speed
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Credit Where Credit Is Due

"Not only does the Aaa rating reflect highly upon Washington's credit, it will help ensure that when we finance schools, roads and other important projects, we do so at the lowest possible interest rates." ~ Washington Treasurer Duane Davidson, announcing that Washington state now has its first-ever triple-A bond rating from Moody's Investor Services. Still, Moody's warned that the state's stellar rating could be downgraded if lawmakers use one-time revenue solutions to plug budget holes or draw down reserves, which follows warnings from the Treasurer's Office against spending increases.

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Connecting With Congress
Big Changes

Employers need to prepare for new noncompete laws

By Tim O'Connell of Stoel Rives

During the last legislative session, Washington took significant steps to limit noncompetition agreements for employees in the state and prohibit employer policies that ban moonlighting, impacting not only an important part of many local companies' strategies to protect their market position, but also employee loyalty.

The new state statute regarding noncompetition agreements and moonlighting policies demands attention from Washington employers...

Starting Jan. 1, 2020, employers that utilize noncompetition agreements need to carefully evaluate whether those agreements will meet the new state standards. If not, employers should revoke or revise those agreements prior to the effective date...

Properly structured noncompetition agreements and properly based policies regarding moonlighting are valid. Employers must, however, address these new limitations, sooner rather than later.

Read the full column in The Puget Sound Business Journal