7c Presentation, Economic Development Partnership Program and COVID-19
Item No. 7c Date of Meeting July 28, 2020 Port Economic Development Partnership Program Helps Drive Economic Recovery Port Recovery Policy Accelerates Changes to ED Partnership Grant Program Port Commission's Recovery Resolution drove staff to provide recommendations and options for Port investments to support recovery: o Prioritize Economic Development and Community Investment Programs o Maximize Partnerships to Leverage Funding and Impact In response to the Recovery resolution Economic Development staff worked with Cities to review and pivot the Port's economic development partnership grant program 2 Economic Development Partnership Grant Program Port funded grant program for King Eligible Activities County cities designed to advance local Business attraction initiatives and regional economic development Small business assistance; $960,000 annual funding (from the Industry retention and property tax levy) expansion assistance Awards are capped at $65,000 with a Tourism development; minimum of $5,000 for small cities. Downtown revitalization; Commercial or industrial A 50% local match (with up to 25% in- property development; and kind resources allowed) is required. Other community or economic development projects City Partners are providing $680,000 in matching funds to support economic development projects across the region 3 Leveraging Grants and Partnerships As the pandemic unfolded in March staff started working with city grant partners to pivot projects towards "relief and recovery" Many cities were already pivoting to address pandemic issues in their communities (ex. Small business closures) Ad hoc City advisory group helped evaluate program and recommend changes for 2021 (if authorized) o Range of eligible activities narrowed based on new economic challenges and realities Realigned partnerships are supporting new economic development priorities that address pandemic related challenges Shift to COVID Relief and Recovery 2019 Priority Initiatives Current COVID-driven Initiatives 1. Business Recruitment 1. Small Business Assistance 2. Business Assistance and Retention 2. Tourism 3. Planning and Feasibility Study 3. Placemaking 4. Tourism 4. Feasibility - Real Estate Development 5. Buy Local Campaigns and 5. Workforce Marketplace Development 5 Examples of City Pivots Before After Kent workforce partnership with Aerospace Joint Pivoted to address retraining needs for dislocated workers. Apprenticeship Council Five Cities supported Startup 425 program Launched the (Re)Startup 425 website with webinars, etc. Enumclaw planned to do hotel feasibility study Shifted funding to Enumclaw Chamber business outreach Burien planned to attract new business to the City Pivoted to a regional tourism promotion campaign. Shoreline planned to promote local film artists at the Holly Started a drive-in "Washington Made Short" film series Shorts Festival Woodinville planned to host a commercial real estate tour Created an online business resource hub with Chamber 6 2020 Top New Focus Areas $300,000 $200,000 Award Amount 34% (of funding) 21% $100,000 18% 14% 7% 5% $- Small Business Tourism Buy Local Campaign, Business Attraction Workforce Feasibility - Real Assistance Downtown/ and Trade Estate Development Commercial Development Revitalization, etc. 7 Refocusing Partnership Program Based on New COVID Realities Completed SWOT of King County's COVID-19 economy City Advisory Panel Discussed and established priority activities Bre Keveren North Bend Discussed several program funding scenarios Doug Lein Auburn Increased funding Ellen Miller-Wolfe Kirkland Philly Marsh Bellevue Decreased funding Tanja Carter SeaTac Discussed how to promote collaboration and regional Tim Morgan Maple Valley or countywide projects Eric Lane Des Moines 8 Economic Development is Shifting In Response to COVID Percent of Economic Development Organization Local businesses assistance is top priority Local Biz Assistance 7 4 Virtual Services: Community Relations Practitioners using webinars 6 4 and other tools to provide Webinars and web conferencing 48 help (ex. CARES loans) Mulitdisciplinary collaboration* 46 Multidisciplinary collaboration more Assistance to biz gov policy has closed 41 important than ever before Stopped or slowed business attraction 31 (esp. with health officials) Many organizations no Supporting efforts to assist laid off 1 5 longer doing business 0 10 20 30 40 50 60 70 80 recruitment Percent of Economic Development Organization *Multidisciplinary collaboration includes working with public health, city planning, workforce development and other partners to coordinate relief and recovery efforts 9 2021 Program Recommendations Narrow Eligible Activities Small business assistance (resiliency and reopening) Tourism development and local/regional placemaking International trade development* Other projects like workforce development and feasibility studies* Ineligible for 2021: Business attraction initiatives Community branding or placemaking initiatives that are not tied to reopening and recovery *requires preapplication consultation with staff 10 Appendix 11 2020 Program Grant Award Eligible Amounts Algona $ 5,000 Federal Way $ 65,000 North Bend $ 6,965 Auburn (part) $ 65,000 Hunts Point $ 5,000 Pacific (part) $ 6,875 Beaux Arts Village $ 5,000 Issaquah $ 37,590 Redmond $ 65,000 Bellevue $ 65,000 Kenmore $ 22,320 Renton $ 65,000 Black Diamond $ 5,000 Kent $ 65,000 Sammamish $ 64,410 Bothell (part) $ 28,570 Kirkland $ 65,000 SeaTac $ 29,180 Burien $ 52,000 Lake Forest Park $ 13,250 Shoreline $ 56,370 Carnation $ 5,000 Maple Valley $ 26,180 Skykomish $ 5,000 Clyde Hill $ 5,000 Medina $ 5,000 Snoqualmie $ 13,670 Covington $ 20,280 Mercer Island $ 24,470 Tukwila $ 20,930 Des Moines $ 31,580 Milton (part) $ 5,000 Woodinville $ 12,410 Duvall $ 7,840 Newcastle $ 12,450 Yarrow Point $ 5,000 Enumclaw (part) $ 12,200 Normandy Park $ 6,610 Total Eligible $ 1,011,150 Funding 12 Investments Since Program Start (2016 - 2020) North King County East King County - Port: $ 0.2 M - Port: $1.3 M - City + Port: $ 0.5 M - City + Port: $2.2 M South King County - Port: $1.7 M - City + Port: $2.9 M $3.3 million invested in King County - Combined investment (Cities + Port) of $5.6 million 13 2019 Program Summary POS Funds Used = $740,000 City Match Funds = $452,000 23 cities participated in 2019 Non-participants reasons: Changes in city leadership, limited city funds, limited staff capacity, finishing 2018 projects So far 31 cities participating in 2020 Downtown Renton summer event supported by grant 14 2019 Program Highlights 15
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