Economic Development
Our economic development initiatives aim to create equitable opportunities for Black, Indigenous, People of Color (BIPOC) to participate in and benefit from the economic growth of their neighborhoods and the wider region. We do this through an integrated strategy focused on three categories:
- Places. We enhance the vibrancy and sustainability of commercial corridors in underserved communities by investing in resident-led projects that create a shared vision, improve the physical environment, and celebrate the unique assets of each neighborhood.
- Business. We help to launch and sustain small BIPOC-owned businesses that provide essential goods and services to residents, create jobs, foster a sense of community and nurture economic opportunity and innovation.
- People. We create opportunities for people to secure jobs that increases their income and assets and build financial literacy to ensure that participants maintain their economic security.
Inclusive Economic Development
In partnership with Kaiser Permanente, LISC is advancing health and wealth through a place-focused and people-centered approach to district, business and talent development in Puget Sound. This work will help to address barriers to inclusive growth and economic mobility, particularly those experienced by Black, Indigenous and other people of color (BIPOC). Click here to sign up for updates.
Goals of this program include:
- Ensuring that business districts have quality, affordable retail and commercial spaces and an environment that fosters business growth.
- Supporting BIPOC entrepreneurs to advance quality job retention/creation and a healthy ecosystem for equitable small business growth.
- Developing talent through financial coaching and reskilling to connect people to income support and quality jobs.
Currently, LISC is engaged in place based work in two Puget Sound communities, Skyway and Casino Road.
Casino Road
The Casino Road neighborhood is a largely LatinX community, with a high concentration of Everett’s communities of color and low-income households. There are two planned light rail stations in the area, but little permanently affordable housing. The community is extremely concerned about the risk of displacement from the expected transit and infrastructure investments. The district includes retail, commercial, industrial and residential along its corridors. A coalition of community-based and faith-based organizations has been engaged in meeting basic needs and providing social services. Building capacity to support small businesses, establishing new workforce development programming and helping the community to organize around development opportunities in the neighborhood will be important areas of focus. Our process also coincides with an update to the City of Everett’s comprehensive plan and Sound Transit station-area planning. LISC’s economic development planning and funding for implementation will support greater new programming to enhance access to economic opportunities in the face of a changing landscape.
In August 2023, LISC Puget Sound and the Community Foundation of
County engaged Schemata Workshop and Crux Consulting NW to
convene housing stakeholders to develop the Casino Road Affordable Housing
Work Plan. The purpose of this work was both to convene a group of
stakeholders interested in affordable housing for Casino Road and to identify
opportunities for increased housing options and stability.
Skyway
Skyway is in unincorporated King County, just south of Seattle city limits. As an unincorporated area and low-income community, it has suffered from a lack of investment and services. Skyway has the highest proportion of Black residents of any community in Washington State. Its proximity to Seattle, Lake Washington views and easy access to highways places it at high risk for gentrification and displacement. The community has worked very hard over past few years to build coalitions to focus on food sovereignty, lobby for affordable housing investments and secure a commitment from the county for a community center. Many of these investments are still far in the horizon. LISC’s inclusive economic development planning and funding for implementation will help Skyway to reach some of its shorter term objectives including continued organizational capacity building.
Small Business Support
LISC provides support to organizations that support small businesses to start and grow, to provide wealth building opportunities for entrepreneurs and vitality to business districts. Business development organizations provide coaching, technical assistance and long-range recovery strategies to BIPOC and women entrepreneurs. LISC funded programs strengthen the operations of these businesses by providing access to capital, training, and one on one coaching.