Federal Way is strategically located as a major Puget Sound growth center, home to prominent regional, national, and international businesses. Headquarters for Fortune 500 corporations, such as timber giant Weyerhaeuser and internationally known World Vision, are located in Federal Way. Other successes include T.O.T.E. (Totem Ocean Trailer Express, Inc.) and Wild Waves. Federal Way is also home to St. Francis Hospital, which was named one of the top 100 hospitals in America.
The City of Federal Way and Chamber of Commerce’s partnership goes beyond traditional economic development. Implementing the vision of economic vibrancy and prosperity goes hand in hand with creating a revitalized downtown that incorporates mid-rise, mixed-use developments, and pedestrian amenities. The vision is a city that allows residents to live near or in close proximately to where they work, to walk to restaurants and theatres, or to hop on a regional bus to a neighboring community.
The city has adopted pedestrian-friendly street design standards, and an investment of $100 million in infrastructure improvements in downtown is nearing completion. Also, a new Federal Way Transit Center opened February 2006, lending another service to our pedestrians.
Although the nature of its growth has changed, the city has long had a place in the economic development of King County. Originally established as a logging settlement in the late 1800s, Federal Way was linked to the economic centers of Tacoma and Seattle in the 1920s when Federal Highway 99 was completed.
The name "Federal Way" was first used in 1929 to identify a school district and was officially adopted in the early 1950s by the Chamber of Commerce. Changing growth patterns in the community and increasing traffic congestion led to incorporation of the City of Federal Way on February 28, 1990.
Currently, the city has a service area population of 86,530, making it the third-largest city in King County and the sixth largest in the state. The average Federal Way resident is 35 years of age, and 59.5% of the population is between the ages of 5 and 44 years. The average income for Federal Way residents is $62,614.