At the Office of Economic Development, our focus is to shape the future of Seattle’s economy and make it more equitable, prosperous, and competitive. Even in a challenging year for the City’s budget, we remain committed to delivering a high caliber of service through our staff, focusing on the impact of our programs to shape an equitable economic future, and prioritizing matching investments from the regional, state, and federal level.
As with departments across the City, we need to reduce our spending in the 2025-2026 budget cycle. In reshaping our budget for this reality, we are doubling down on OED’s core purpose – leading projects and making investments that open up access to economic opportunities, reduce the racial wealth gap, and encourage innovation and growth. The Mayor’s proposed budget reflects the continued alignment of OED programs with the community-driven Future of Seattle’s Economy investment agenda and the Downtown Activation Plan. Along with our strategic investments, we seek to amplify and multiply our ideas, efforts, and resources. We will continue to work in partnership with the private and philanthropic sectors, other City departments, and regional, state, and federal agencies.
To advance One Seattle and OED’s core work, key changes included in the Mayor’s proposed budget include:
- Focusing workforce investments on building a strong regional backbone through our partnership with the Workforce Development Council and connecting workers with jobs through the MLK Labor Virtual Hiring Hall.
- Pausing other workforce investments while the Mayor’s Office coordinates a citywide assessment of workforce development investments and programs.
- Evolving our placemaking strategy to focus on pathways for Business Improvement Areas (BIA) in neighborhoods and supporting our current 11 BIAs across the city. BIAs are one of the most effective ways that the City can partner with neighborhood business districts to identify common goals and achieve shared outcomes.
- Adding capacity to the Special Events Office, a historically understaffed function at OED, to enhance the City’s complex coordination for permitting special events, including the upcoming 2026 FIFA World Cup. We permit over 400 special events every year.
- Continuing to advance the Mayor’s Downtown Activation Plan, including public space activations, filling vacant storefronts, and longer-term economic development initiatives.
With our changes, which are subject to the Council’s approval, our overall budget for 2025-2026 will be about $30 million per year.
For more information on the proposed budget, read the mayor’s press release here: Mayor Harrell announces proposed 2025-2026 budget.
NEXT STEPS AND COMMUNICATION ABOUT BUDGET
Over the next two months, the City Council will review the Mayor’s 2025-2026 Proposed Biennial Budget. Public hearings are on October 16 and November 12. Final adoption of the budget is expected on Thursday, November 21. Read more about the Mayor’s proposed budget here and you can also direct any questions to MOS_COMMS@seattle.gov.