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Welcome to the Office of Economic Development. Our mission is to create a robust economy and broadly shared prosperity in Seattle. As advocates for industry, we provide core services for Seattle's businesses and organizations.
Contact us today for assistance.

Find out why Seattle thrives.

What's New at OED

Community event examines Southeast Seattle retail

On Tuesday, December 1st, national commercial district revitalization expert Kennedy Smith will discuss strategies for strengthening Rainier Valley businesses and business districts, and increasing the availability of goods and services in SE Seattle.

This event is open to the entire community and will be especially useful for Rainier Valley business owners, property owners, and neighborhood leaders invested in the future of SE Seattle retail.

For more information or to RSVP, please contact the City's Office of Economic Development at 206-684-8090 or oed@seattle.gov. If you have any special needs, such as interpretation services, information in different formats, or childcare, please let us know by Tuesday, November 24th so we can try to accommodate your needs.

This event is co-sponsored by the African Business Association of Seattle, the Columbia City Business Association, the MLK Busienss Association, the Office of Economic Development, the Rainier Beach Merchants Association, the Rainier Chamber of Commerce, and the Rainier Valley Community Development Fund.

Click here to download the event flyer.

November 19, 2009

City announces additional financing to help local businesses

Accepts $40 million federal New Markets Tax Credits

City Council president Richard Conlin signed legislation today authorizing the city's Office of Economic Development to accept an allocation of $40 million in federal New Markets Tax Credits (NMTCs).

"In this economic downturn, all businesses are having a hard time accessing capital, and we recognize that the growth of businesses is the key to achieving economic recovery," said Conlin. "This allocation gives the city another tool to directly help business and real estate projects in our community find funding that otherwise would not be available."

The NMTCs allocation is an important resource to help businesses and real estate projects access capital. These tax credits will help five to ten business and real estate projects attract outside investors to obtain financing which would otherwise not be available. Investors will be encouraged to invest because they will receive a credit against federal income taxes for making equity investments in low-income areas.

Click here to read the full press release.

For more information about the New Markets Tax Credits, the Grow Seattle Fund or the CDBG small business loan fund, please contact Ken Takahashi in the city's Office of Economic Development at 206-684-8378 or ken.takahashi@seattle.gov.

November 17, 2009

Mayor announces new financing for Seattle businesses

$1.4 million in stimulus funds; $8 million 'Grow Seattle Fund'

This week, Mayor Greg Nickels and city of Seattle lending partners announced the launch of new city programs to help businesses access credit. The announcement took place at the new home of Alpha Cine, a local motion picture laboratory and one of the first businesses to receive a loan from the newly established "Grow Seattle Fund." In response to the tight credit market for businesses, Nickels and the City Council have worked together to launch three new financing programs to help provide access to much-needed capital for a range of Seattle businesses, from small to large.

October 8, 2009

2009 Mayor's Small Business Awards winners announced, honored

On October 13, 2009, the Mayor's Small Business Awards honored ten outstanding local businesses at Town Hall for their contributions to Seattle's diverse economy. At this year's 25th annual event, 1984 business winners Assunta Ng, Seattle Chinese Post, and Hiroshi Hibi, Uwajimaya, gave tributes to the awards and took a photo with Mayor Nickels and former Mayor Royer, who started the program 25 years ago. Mayor Nickels was also honored with a short tribute for his eight years of support for the small business and neighborhood business district community. 2009 business owners, together with their staff, family, and friends, viewed special video profiles of each winner and and toasted many more years of successful small business enterprise. Thanks to everyone who attended and congratulations again to the 2009 winners!

Click here to read more about the winners.

Click here to view the winners' video profiles on the Seattle Channel.