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Originally published September 17, 2009 at 12:56 PM | Page modified September 17, 2009 at 3:16 PM

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Tacoma keeps $700,000 in Russell perks

Gov. Chris Gregoire says Tacoma will receive $700,000 in economic development money that had been intended to keep the Russell Investments company downtown.

The Associated Press

TACOMA, Wash. —

Gov. Chris Gregoire says Tacoma will receive $700,000 in economic development money that had been intended to keep the Russell Investments company downtown.

She told the Tacoma City Club Wednesday she had taken the money from strategic reserves more than a year ago for Tacoma parking and streetscape improvements.

The News Tribune of Tacoma reports it was part of a package of incentives city officials hoped would persuade Russell to stay. Instead the financial company announced last week it will move it headquarters to Seattle in 2010, taking over the former Washington Mutual building.

The $700,000 comes from an account funded by unclaimed lottery winnings.

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Information from: The News Tribune, http://www.thenewstribune.com

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