Last year, our South Sound Market Snapshot examined the economic trends impacting Tacoma and Pierce County. With rising incomes, increase in entrepreneurship, and job growth, the region shows a generally positive economic trajectory. But every region and community has challenges and unique headwinds.
As with the nation generally, and the Puget Sound region specifically, Pierce County is faced with affordable housing constraints. And as the downtown core’s economy has shifted from an industrial, warehouse, and manufacturing focus to one that includes more education, services, international trade, and Seattle tech spillover, ensuring Tacoma’s rising tide rejuvenation lifts the boats of all its residents, requires intentionality.
This intentionality is displayed in three local organizations. As part of our sponsorship of the 2026 Puget Sound Business Journal Tacoma Business Outlook, Washington Trust made donations to Sound Outreach, 1DROP, and Aya Community Land Trust. Each is making incredible strides in supporting the economic development of the region, filling gaps that aren’t naturally addressed by the market.
Sound Outreach
Sound Outreach’s mission is to empower Pierce County residents to achieve economic mobility through an integrated coaching and counseling model to secure personal financial health. In 2025, they served more than 350 clients, 72 of which secured new unsubsidized employment, 65 increased their net worth, and 47 increased their credit score. This kind of impact shows up in some notable statistics, as per capita and household income continues to rise in the county.
At the same time, their work is far from being done. As of the most recent data, 35% of Pierce County households are below the ALICE threshold. An acronym for asset limited, income constrained, employed; the figure surfaces households in a community that earn more than the federal poverty level, but less than the basic cost of living in a county. In 2019, Pierce County had 65,166 ALICE households. That number has jumped to 90,594.
Sound Outreach advances its mission through personalized, one-on-one coaching and group presentations that help individuals take control of their financial lives. By teaching clients how to use financial products to build credit and grow wealth, the organization moves beyond traditional financial education, helping residents strengthen credit, develop healthy financial habits, and break cycles that limit long-term economic mobility. They also participate in Center for Strong Families of United Way Pierce County, which integrates employment coaching, financial counseling, and access to public benefits through comprehensive case management for ALICE households.
The economy in Tacoma and Pierce County is moving in the right direction. South Sound ensures that all its residents benefit as it does.
1DROP
To help make housing more affordable in the region, 1DROP supports the growth of underrepresented real estate developers to build more housing in the Puget Sound. Launched in January 2025, the emerging organization supports its network of developers via apprenticeships, mentorships, policy, resources, and funding, and has ambitious goals. Over the next five years it aims to build 2,750 homes and create 7,000 jobs that in turn generate $1B+ in economic activity.
Their efforts are sorely needed. While the median listing price for a home in the Seattle-Tacoma-Bellevue MSA has leveled off in recent years, it is up 170% since 2016. Rental rates have been on a similar trajectory, making securing housing difficult, and homeownership nearly impossible, for many.
By bringing more developers into the industry — including planning, design, and building — more housing supply can come online, thus creating more housing options for people of all wage levels, age, and stage of life. And in a short time, 1DROP is already making an impact.
They’ve piloted seven apprenticeships across 10 projects, completed 178 housing units with 51 more under construction, helped developers secure $5.587M in early-stage capital funding, and successfully supported developers in obtaining $23.7M in permanent financing. Additionally, 1DROP has a pipeline of 104 permit-ready units, 857 units in preconstruction, and 260 units under contract.
Aya Community Land Trust
As housing pressures intensify across Tacoma and Pierce County, Aya Community Land Trust addresses one of the market’s most persistent gaps: preserving long-term housing stability in communities most vulnerable to displacement. Founded in Tacoma’s Hilltop neighborhood, Aya emerged in response to rising property values, housing insecurity, and gentrification that have increasingly pushed longtime residents — both renters and homeowners — out of the communities they helped build.
Hilltop has long been a cultural and economic anchor in Tacoma, yet like many urban neighborhoods experiencing reinvestment, growth has come with unintended consequences. Aya intervenes by removing land from the speculative market and placing it in community trust, ensuring homes and community-serving real estate remain permanently affordable across generations.
Central to Aya’s model is community-led governance. The organization centers the voices of residents most impacted by housing instability and works to expand access to stable housing and homeownership opportunities that have historically been out of reach, helping ensure that Tacoma’s revitalization strengthens neighborhoods rather than displacing them.
Ensuring Opportunity Keeps Pace with Growth
Tacoma and Pierce County are experiencing meaningful economic progress, driven by rising incomes, increased entrepreneurship, and continued investment. Sustaining that momentum, however, requires more than market forces alone. That’s why Washington Trust supports organizations like Sound Outreach, 1DROP, and Aya Community Land Trust. They play a critical role in reinforcing the region’s economic foundation by strengthening financial stability, expanding housing supply, and preserving long term affordability. Their work helps ensure that growth is durable, balanced, and supportive of the communities that underpin the South Sound’s continued success.