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Tenant Improvement Fund Invests $3.4M to Local Businesses
Piloted in 2022 and 2023, the Tenant Improvement Fund provided $3.4 million to 34 local businesses for commercial space improvements.
Working with businesses and business district partners, we designed the TI Fund to support economic recovery through inclusive and intentional investments. This program helps fill gaps in existing funding for commercial space improvements, especially in communities and populations that have faced disinvestment, displacement, and a lack of access to capital and wealth generation.
The businesses selected used the funds to support upgrades, renovations, and improvements to their spaces.
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We are excited to continue sharing updates about the Downtown Activation Plan, a collaborative effort to revitalize the heart of Seattle. Check out the plan and get involved at downtownisyou.com. You can also join the Good News Downtown mailing list.
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 Progress Downtown 💜
The Downtown Activation Plan launched in mid-2023 and is underway with 83% of initiatives already in progress! Check out our progress report to see what work is happening and what's next on the list. 📃
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 Seattle Restored Investment
JPMorgan Chase announced a $200,000 investment in Seattle Restored! 🛍 The funding will focus on deepening support for long-term leases and providing more technical assistance to small businesses.
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Transform Urban Spaces 🏗
Creative professionals are invited to submit their designs to transform five acres of vacant land in SODO! This is part of C40’s global competition to transform underutilized sites into innovate and zero-carbon urban projects.
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 Hing Hay Park Illuminated
Hing Hay Park has a new canopy and café light fixtures! The lights will illuminate and activate the park, creating a unique cultural experience for all. Check it out this weekend during the annual Lunar New Year celebrations! 🐲
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We were proud to have the Future of Seattle Economy agenda highlighted during the Mayor’s State of the City address this week!
Other highlights include making progress on the Downtown Activation Plan, expanding access to capital for nearly 300 businesses, increasing access to middle-wage jobs in growing industries like healthcare, and cutting down the average time for a business’ first permit review.
Read the Mayor’s Remarks 🏙
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Creative Economy Seeking Project Proposals 📥
Our Creative Economy team is seeking proposals for two upcoming projects. Both contracts run through December 2024, with responses due March 1, 2024.
This year, we’re bringing back “The Mixer” Program to help small businesses in the creative economy. We’re looking for a production consultant or producing firm to help us with the relaunch. The contract runs through December 2024 and is budgeted for up to $150,000.
Learn about The Mixer Request for Qualifications.
We’re also looking for a consultant or consulting team to collaborate with us in updating our Creative Economy Report. This project will update the 2019 Creative Economy Report with current data on the types and numbers of occupations within this sector. This project is budgeted for up to $70,000.
Help OED with our Creative Economy Research.
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Export Accelerator Applications Open 📝
Our partner Greater Seattle Partners is accepting applications for the Greater Seattle Export Accelerator second cohort!
The program provides small and medium-sized businesses with export assistance and new trade opportunities. The accelerator includes a comprehensive curriculum, in-person export advising, and networking events. The program is open to businesses in King, Snohomish, and Pierce County. Application deadline is March 24.
Check Out the Accelerator Application.
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Rebates for Businesses Going Electric ⚡
The Washington Department of Commerce is accepting formula funding requests for small businesses and other groups to electrify and decarbonize.
The State Home Electrification and Appliance Rebates Program is available to small businesses and households for the installation of high-efficiency electric equipment and appliances to help the state reach its emissions reduction goals for the building sector.
Eligible equipment includes commercial induction cooking equipment, electric panel and wiring updates required for new electric equipment, and heat pumps.
Learn more and request electrification funding.
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