City Nears Two Decades of Community Development Block Grant Partnerships with Enterprise for Equity
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For nearly half of the 42 years the City of Olympia has participated in the Community Development Block Grant (CDBG) Program, Enterprise for Equity has proven a trusted partner in ensuring that funds help bolster local, low- and moderate-income entrepreneurs.
In 2005, Enterprise for Equity received its first CDBG Program award from the City. Since then, $475,000 in CDBG funds have helped provide microenterprise assistance and technical training to entrepreneurs who participate in Enterprise for Equity's programs. More than 200 entrepreneurs have benefited from the CDBG funds, boosting the City's economic growth.
Enterprise for Equity offers the Business Readiness Workshop, which the organization says is "designed to support those contemplating self-employment, those new to business or those who already have an established business." Workshop attendees can then participate in the Business Planning Program, an intensive, multi-week program that incorporates a triple-bottom-line focus as it covers marketing, operations and financial planning. With their course costs subsidized through the City's CDBG funding, low- and moderate-income entrepreneurs can develop business plans that allow their small businesses to thrive.
In a creative twist tor 2024, the CDBG funding will boost Enterprise for Equity's Art-Preneur Program. Enterprise for Equity says, "This program is for everyone, including creative/makers of all varieties as well as fine art, woodworking, crafts, jewelry, writers, poets, musicians, performers, potters and designers." The program is specially tailored to address the challenges of being a creative person in the business world. According to Enterprise for Equity, it will emphasize work-life balance and staying in a healthy creative flow while juggling business aspects, including social media, shows, markets, online sales, custom orders, taxes and licenses.
Given that according to the Washington State Arts Commission, the creative economy makes up 8.7 percent of Washington state's gross domestic product, the CDBG funds for the Art-Preneur Program can enhance Olympia's economy in substantial ways.
As we celebrate the 50th anniversary of the CDBG Program and the City's 42 years of participation in it, Enterprise for Equity's use of CDBG funds to help low- and moderate-income entrepreneurs stands out as a highlight.
Olympia receives federal CDBG funds from the United States Department of Housing and Urban Development (HUD) as a grantee. Funds are received annually through a formula allocation. In accordance with HUD, the funds are distributed to "develop viable communities by providing decent housing, a suitable living environment and opportunities to expand economic opportunities, principally for low- and moderate-income persons."
For more information about the City's CDBG Program, click here.
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Contact
Anastasia Everett, CDBG Program Manager
City Manager's Office
360.233.6197
[email protected]
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