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==Economy and attractions== [[File:Weyerhaeuser Building (Federal Way) 11.jpg|thumb|right|The former [[Weyerhaeuser]] headquarters]] Until 2014, Federal Way was home to [[Weyerhaeuser]], the largest private owner of [[softwood]] timberland in the world. Weyerhaeuser had opened much of its land in Federal Way to the public, including two [[botanical garden]]s: the [[Rhododendron Species Foundation and Botanical Garden]], and the Pacific [[Bonsai]] Museum. In 2014, the company announced it would vacate its Federal Way headquarters. City leaders suggested promoting the location for a potential [[community college]] campus. Federal Way is also home to the US headquarters of [[World Vision International]]. Other attractions in the city include the [[Weyerhaeuser King County Aquatic Center]], which features an Olympic-size swimming pool which has been used for the [[1990 Goodwill Games]] and 2012 US Olympic Swim & Dive Trials. Celebration Park includes sports fields, a playground, and wooded trails. The city has also developed many lakefront and neighborhood parks, playgrounds, and trails. The {{convert|40|acre|adj=on}} PowellsWood Garden, known for its outstanding structural plantings and perennial borders, is located off South Dash Point Road. This land, on a portion of the Cold Creek ravine, was purchased by Monte and Diane Powell in 1993 in order to preserve green space in an increasingly urbanized area. [[Wild Waves Theme Park|Wild Waves Theme & Water Park]], the largest amusement park in the region, opened in 1977 on the south side of the city. It is the [[Seattle]] area's only permanent [[amusement park]]. [[Six Flags]] purchased Wild Waves in December 2000. However, after low sales, Six Flags sold the park in April 2007 to Parc Management LLC of [[Jacksonville, Florida]], for $31.75 million. Federal Way is locally identified by its 1990s semi-urban development, characterized by landscaped off-street multi-structure apartment complexes and shopping centers. [[The Commons at Federal Way]], the city's only indoor shopping mall, is located on South 320th Street and Pacific Highway South ([[Washington State Route 99|State Route 99]]) near the city's main [[Interstate 5 in Washington|Interstate 5]] exit. ===Largest employers=== According to Federal Way's 2022 Comprehensive Annual Financial Report, the largest employers in Federal Way are:<ref>{{cite web |title=City of Federal Way 2022 Comprehensive Annual Financial Report |url=https://docs.cityoffederalway.com/WebLink/ElectronicFile.aspx?docid=1911820&dbid=0&repo=cityoffederalway |page=154 |access-date=December 5, 2023}}</ref> {| class="wikitable" |- ! # ! Employer ! # of Employees |- |1 |[[Federal Way Public Schools]] |2,349 |- |2 |[[World Vision International]] |1,712 |- |3 |[[Catholic Health Initiatives|CHI]] Franciscan Health - St. Francis Hospital |996 |- |4 |[[United States Postal Service]] |600 |- |5 |Washington Conference of [[Seventh-day Adventist Church|Seventh-Day Adventists]] |500 |- |6 |[[Walmart|Walmart Supercenter #3794]] |376 |- |7 |Community Integrated Services |364 |- |8 |[[Costco]] |352 |- |9 |City of Federal Way |339 |- |10 |[[Virginia Mason Medical Center|Virginia Mason]] Federal Way Medical Center |325 |- |11 |[[Fred Meyer]] |303 |- |12 |Korean Women's Association |267 |- |13 |[[Walmart|Walmart Discount Store #2571]] |228 |- |14 |MAKSU Inc. |220 |- |15 |[[The Home Depot]] |196 |} ===Downtown tower projects=== [[File:Federal Way Link station under construction Feb 2025.jpg|thumb|right|Aerial view of Downtown Federal Way in February 2025]] In 2007, the city of Federal Way purchased a downtown lot formerly used by a defunct [[AMC Theatres]] cinema, and invited proposals from two developers, [[United Properties]] and Alpert Capital, to develop a multi-use tower project in the downtown core, adjacent to the recently built transit center. Such a project follows in the steps of similar multi-use developments such as Kent Station in nearby [[Kent, Washington|Kent]]. The city awarded the contract to United Properties' "Symphony" project, comprising four 15β22 story towers, including {{convert|60000|sqft|m2}} of retail and office space, 900 housing units, and a large downtown park which would be relinquished to the city. Transfer of the land to United Properties followed by construction of the first tower was scheduled to start in mid-2008.{{citation needed|date=February 2017}} However, in July 2008, United Properties requested a one-year extension on the terms of the purchase agreement, citing difficulties in the credit and housing markets to acquire the necessary funds.<ref name=symphonydelayed>{{cite news |url=http://www.federalwaynews.net/articles/2008/07/21/news/local_news/story01.txt |title=Developers changing their tune regarding Symphony development timeline |access-date=August 11, 2008 |date=July 21, 2008 |newspaper=Federal Way News |url-status=dead |archive-url=https://web.archive.org/web/20080827161456/http://www.federalwaynews.net/articles/2008/07/21/news/local_news/story01.txt |archive-date=August 27, 2008}}</ref> In August 2009, United suggested scrapping the Symphony plan and instead building a performing arts center on the property, a proposal the city rejected.<ref>{{cite news |url=http://www.pnwlocalnews.com/south_king/fwm/news/55796922.html |archive-url=https://archive.today/20120909044719/http://www.pnwlocalnews.com/south_king/fwm/news/55796922.html |url-status=dead |archive-date=September 9, 2012 |date=August 28, 2009 |last=Howard |first=Jacinda |newspaper=Federal Way Mirror |title=Council still holds out hope for big high-rise project}}</ref> In September 2009 the South Korean development firm Lander Korus joined onto the project with United.<ref>{{cite news |url=http://www.pnwlocalnews.com/south_king/fwm/news/59286472.html |archive-url=https://archive.today/20120906054951/http://www.pnwlocalnews.com/south_king/fwm/news/59286472.html |url-status=dead |archive-date=September 6, 2012 |date=September 15, 2009 |title=Downtown high-rises: Federal Way investor joins Symphony project |last=Howard |first=Jacinda |newspaper=Federal Way Mirror}}</ref> Korus proposed adding Asian elements to the building in order to attract investment and interest from the city's influential Korean population and foreign investment. However, by July 2010, after having granted United and Korus five extensions to close on the project, the city transferred the deal to another Korean developer, Twin Development,<ref>{{cite news |url=http://www.pnwlocalnews.com/south_king/fwm/news/96673809.html |date=June 18, 2010 |title=High-rise developers pursue land purchase in Federal Way |last=Howard |first=Jacinda |newspaper=Federal Way Mirror |access-date=January 10, 2019 |archive-url=https://web.archive.org/web/20100626083404/http://www.pnwlocalnews.com/south_king/fwm/news/96673809.html |archive-date=June 26, 2010 |url-status=dead |df=mdy-all}}</ref> which had planned a similar project on another lot. The new developer brought a new design, with two 45-story and one 35-story mixed-use towers. As of 2011 the new developers had yet to close on the property, citing financing difficulties, and had received the seventh extension on the land from the city, which expired in March 2011.<ref>{{cite news |title=Federal Way City Council to skyscraper developer: Where's your business plan? |url=http://www.pnwlocalnews.com/south_king/fwm/news/103581264.html |date=Sep 22, 2010 |last=Howard |first=Jacinda |newspaper=Federal Way Mirror |access-date=January 10, 2019 |archive-url=https://web.archive.org/web/20110221022455/http://www.pnwlocalnews.com/south_king/fwm/news/103581264.html |archive-date=February 21, 2011 |url-status=dead |df=mdy-all}}</ref> The developers were banking on the city's recently granted [[EB-5 visa]] qualification to encourage foreign investment in exchange for [[permanent resident]] status.<ref>{{cite web |url=http://www.admiralcommercial.com/blog/2010/03/12/another-high-rise-complex-is-proposed-for-federal-way/ |date=March 12, 2010 |title=Another high rise complex is proposed for Federal Way |author=Admiral Commercial Real Estate |access-date=January 6, 2011 |archive-url=https://web.archive.org/web/20110707083939/http://www.admiralcommercial.com/blog/2010/03/12/another-high-rise-complex-is-proposed-for-federal-way/ |archive-date=July 7, 2011 |url-status=dead}}</ref> As of February 1, 2011, this deal was also dead, as the developer had failed to make a required escrow deposit by the end of January.<ref>{{cite news |url=http://www.pnwlocalnews.com/south_king/fwm/news/115149919.html |title=Federal Way's high-rise deal dies |last=Howard |first=Jacinda |date=February 3, 2011 |access-date=February 4, 2011 |newspaper=Federal Way Mirror |archive-url=https://web.archive.org/web/20110204084922/http://www.pnwlocalnews.com/south_king/fwm/news/115149919.html |archive-date=February 4, 2011 |url-status=dead |df=mdy-all}}</ref> In 2011 the city renewed its Request for Quotes for the undeveloped site, and received three proposals. The city ultimately chose a proposal by [[Arcadd]] known as the "Crystal Palace", a densely packed glass multi-tower structure where some of the towers bend outward near the top under 20 stories with a larger retail and public space pavilion at the base.<ref name="crystalpalace">{{cite news |newspaper=Federal Way Mirror |url=http://www.pnwlocalnews.com/south_king/fwm/news/125983348.html |archive-url=https://archive.today/20130131104029/http://www.pnwlocalnews.com/south_king/fwm/news/125983348.html |url-status=dead |archive-date=January 31, 2013 |title=Crystal Palace coming soon to downtown Federal Way |last=Allmain |first=Greg |date=July 22, 2011}}</ref> The developers, however, were unable to obtain the funds by the initial deadline. After extending the deadline eight months to allow Arcadd to obtain the necessary earnest money, and still seeing no progress, the city decided to move on with a different plan.<ref>{{cite news |last=Allmain |first=Greg |title=Crystal Way developer misses deadline for downtown site {{!}} City explores alternative |url=http://www.federalwaymirror.com/news/138447749.html |access-date=January 30, 2014 |newspaper=Federal Way Mirror |date=October 3, 2012 |archive-date=February 1, 2014 |archive-url=https://web.archive.org/web/20140201232029/http://www.federalwaymirror.com/news/138447749.html |url-status=live }}</ref> As of May 2013, plans for a downtown park and plaza complex were underway.<ref>{{cite news |last=Allmain |first=Greg |title=Developer will study site for park in downtown Federal Way |url=http://www.federalwaymirror.com/news/206848021.html |access-date=January 30, 2014 |newspaper=Federal Way Mirror |date=May 9, 2013 |archive-date=February 1, 2014 |archive-url=https://web.archive.org/web/20140201232026/http://www.federalwaymirror.com/news/206848021.html |url-status=live }}</ref> In 2014, the lot was repaved, leaving the AMC Theatres building foundation in place, but filling inside its perimeter with sod. The lot was rechristened Town Square Park and opened in early 2014. A plan for a more permanent park design on the site is being considered. To the north of the downtown park, an elevated lot which was formerly the location of a [[Toys "R" Us]] store has been purchased by the city, which is slated to host a planned performing arts and civic center (PACC). The PACC proposal has been controversial, largely over funding and self-sustaining concerns (a similar city project, the Federal Way Community Center, opened in 2007 and ran for most of its operational history in the red), but has the support of most city leaders. It opened as the Performing Arts & Event Center (PAEC) in August 2017.<ref>{{cite web |url=https://fwpaec.org/about-us/ |title=About Us |access-date=February 7, 2019 |archive-date=February 9, 2019 |archive-url=https://web.archive.org/web/20190209124606/https://fwpaec.org/about-us/ |url-status=live }}</ref> Also in 2014, ahead of Veterans Day, the city introduced a {{convert|60|ft|m|adj=on}} flagpole on South 320th Street between Pacific Highway South and Pete von Reichbauer Way South.<ref>{{cite news |url=http://www.federalwaymirror.com/news/officials-raise-downtown-flag-to-honor-veterans-in-federal-way-slideshow/ |title=Officials raise downtown flag to honor veterans in Federal Way |publisher=Federal Way Mirror |access-date=October 2, 2015 |archive-date=February 7, 2017 |archive-url=https://web.archive.org/web/20170207114923/http://www.federalwaymirror.com/news/officials-raise-downtown-flag-to-honor-veterans-in-federal-way-slideshow/ |url-status=live }}</ref> The pole holds a {{convert|15|by|25|ft|m|adj=on}} flag.<ref>{{cite news |url=http://www.federalwaymirror.com/news/patty-murray-to-help-raise-new-flag-in-federal-way-to-honor-veterans/ |title=Patty Murray to help raise new flag in Federal Way to honor veterans |publisher=Federal Way Mirror |access-date=October 2, 2015 |archive-date=February 8, 2017 |archive-url=https://web.archive.org/web/20170208035045/http://www.federalwaymirror.com/news/patty-murray-to-help-raise-new-flag-in-federal-way-to-honor-veterans/ |url-status=live }}</ref> While intended to be officially raised on [[Veterans Day]], a smaller flag was raised to half mast on the pole in late October, in memory of State Representative [[Roger Freeman (American politician)|Roger Freeman]] who died October 29 of that year. The portion of South 320th Street from Pacific Highway to Interstate 5 was dual-named "Veterans Way" in honor of veterans.
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