The 2026 budget passed by the Seattle City Council highlights our continued focus on supporting a thriving, inclusive business ecosystem – one that attracts new industry and helps local businesses grow, innovate, and create opportunity across the city.
The approved budget maintains our direction of leading projects and making investments that open up access to economic opportunities, reduce the racial wealth gap, and encourage innovation and growth. Our programs and department goals are focused on advancing a One Seattle approach and the community-driven Future of Seattle’s Economy investment agenda for economic development.
Key OED initiatives funded include:
- Improving the business environment for grocery stores in the city. In alignment with the Mayor’s executive order, OED is part of a multi-department effort addressing two interrelated issues: making it easier and more affordable for grocery stores to operate in Seattle, and improving access to healthy foods. OED is focused on the City’s role in addressing structural and economic conditions contributing to the closure of stores, or what may prevent them from opening at all.
- Expanding the Back to Business program to help small businesses: Next year, the City will add $2.5M to this program, for a total of $3.2M to help businesses affected by vandalism or crime recover some of the costs of repairs, as well as taking proactive steps to deter future crime. This funding will also help with built environment changes at the neighborhood level.
- Investment in a theory of change to stabilize, activate and invest locally in neighborhoods. Piloting in Little Saigon, this cross-departmental approach works to coordinate City services, centralize resources, and streamline contact points with residents and businesses. By sustainably addressing public safety and public realm concerns, the City can set a foundation for more positive activity in the neighborhood, building on the shared vision developed in the Pho Dep plan. The budget approved by City Council funds continued work in Little Saigon, with some work in the broader Chinatown-International District, followed by expansion to Lake City.
Our overall budget for 2026 will be about $40.3 million.
You can find information on the approved budget on the Seattle City Council Blog.