The Business Loop CID was one of six organizations in the nation to receive a Smart Growth America grant designed to encourage local, small-scale manufacturing as a way to revitalize an underperforming area of the city and create new economic opportunities.
In partnership with the U.S. Economic Development Administration and Recast City, Smart Growth America will provide free technical assistance to help us create an action plan to identify, support, and promote small-scale manufacturing along the corridor. The Business Loop CID will partner with Regional Economic Development Inc. (REDI) and other key stakeholders to move this project forward. The resulting action plan will be tailored to address the Business Loop’s specific needs by using existing resources and addressing potential obstacles to these local startups. It will also focus on inclusivity by creating pathways to include those left out of traditional funding processes, often women and minorities.
The immediate financial impact of this technical assistance is substantial but the true economic impact of the resulting action plan will be a revitalized, high-performing commercial corridor that fits with the character of the area.