SEATTLE — The Port of Seattle Commission approved the creation of the Port Economic Development Partnership Program that will make available $962,435 to 38 cities funding to advance local economic development throughout the region. The match grants will range from $5,000 to $65,000 for eligible projects based on population, and requires cities to match 50 percent of the Port’s money.
“The Port of Seattle Commission is committed to driving economic development across all communities in King County,” said Commission President John Creighton. “By investing in our communities, we can advance our Century Agenda goal to grow more middle class jobs throughout the region.”
“The Port of Seattle is looking to step up and fill a critical gap where other funding sources aren’t available,” said Commissioner Stephanie Bowman. “This program can support such initiatives as business recruitment, small business development, tourism, property development, and industry retention and expansion.”
The development fund will help the Port advance regional economic growth through focused partnerships, and will be made to cities to pursue programs and projects that stimulate business development, job creation and community revitalization. Each participating city may in turn contract with local nonprofits such as chambers of commerce and visitors’ bureaus to carry out specific initiatives.
Annual grant funding would be provided on a $1 per capita formula with a maximum of $65,000 while ensuring each city receives at least $5,000. There will be three workshops in July to help cities further understand the use of the funds, best practices, and ways to maximize its uses.
Workshop information:
- June 28, 2 –4 p.m., Port of Seattle Headquarters, Pier 69, 2711 Alaskan Way, Seattle
- July 6, 2 – 4 p.m., Kent City Hall, 400 West Gowe St, Kent
- July 13, 2:30 – 4:30 p.m., Bellevue, location TBD
About the Port of Seattle
Founded in 1911, The Port owns and operates Seattle-Tacoma International Airport, two cruise ship terminals, one grain terminal, a public cargo terminal, four public marinas, and manages a number of real estate assets for financial return and economic advantage. The port’s operations currently help create nearly 200,000 jobs and $7 billion in wages throughout the region. Over the next 21 years, the port’s “Century Agenda” seeks to create an additional 100,000 jobs through economic growth while becoming the nation’s leading green and energy-efficient port. Learn more at www.portseattle.org.
