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Mayor Harrell Announces Proposed Budget Adjustments

Mayor Harrel’s proposed 2024 budget reflects the community-driven Future of Seattle Economy investment agenda. The FSE investment agenda serves as the foundation of OED’s work, providing a framework to address the impacts of COVID-19, while also creating an economically diverse, just, and resilient city long term.  

Key highlights include:

  1. Investing in programs to build BIPOC community wealth.
    • Programs address: real estate and commercial affordability; access to capital; and market expansion. This includes our Seattle Restored program, Tenant Improvement Program, and Business Community Ownership Fund.
  2. Adding capacity to our new OED Small Business Navigation team to improve customer service, focused on supporting small, women-, and minority-owned businesses coming to the City for assistance. 
  3. Investing in neighborhood business districts which are incubators for small, diverse businesses that make Seattle unique and core of our high-quality of life.
    • Funding training and professional development for BIA leaders, establishing new BIAs in neighborhoods, and creating new marketing and awareness about BIAs for potential future neighborhoods.
  4. Investing talent and building our workforce while connecting Seattleites to viable careers, resources and training for jobs of the future, and supporting our youth and multi-generational workers. We are also growing businesses and key industries.
    • Investments that leverage new and existing workforce development programs and resources to strengthen Seattle’s green economy and ensure BIPOC workers thrive, which aligns with the Mayor’s Executive Order 2022-07.
    • The budget supports work with small and medium-sized companies to develop their internal training infrastructure for ongoing professional development for their workforce.
  5. Continuing to advance the Mayor’s Downtown Activation Plan, including public space activations, filling vacant storefronts, and longer-term economic development initiatives.

For more information on the proposed budget, read the Mayor’s press release here: Mayor Harrell Announces 2024 Budget Proposal