Portland unveils new economic development grants

The city of Portland announced today that it’s establishing an implementation program for the city’s wide-ranging economic development plan, and a central component of that program is the release of tens of thousands of dollars in grant money to applicants who can help bring the plan into fruition.

Here’s how the city describes the grants specifically:

Grants up to $75,000 will be available through PEDPIP [Portland Economic Development Plan Implementation Program] to help fund planning studies and other “soft” costs associated with economic development projects and programs to advance the initiatives spelled out in the Economic Development Vision and Plan’s priorities. The program will fund the following:  a) planning to evaluate economic development opportunities; b) business recruitment activities with a focus on targeted industries; c) marketing plans/strategies for the city; and, d) programs to enhance the climate and access to downtown business districts.

The PEDPIP requires a match from the applicant equal or greater than the grant amount. PEDPIP funds cannot be used for public infrastructure or private development projects.

For readers looking for context about the larger plan, here’s a little descriptor provided by the city as part of its announcement today:

The plan [was] developed collaboratively by the City of Portland, Portland Community Chamber, Creative Portland Corporation, Portland Development Corporation, along with a task force representing a variety of stakeholders in the private sector was adopted in November by the City Council and provides a roadmap for the city’s future success with steps to take to grow the local economy, enrich the creative economy and support local business.

And finally, last, but not least, for readers looking to electronically thumb through that plan:

Seth Koenig

About Seth Koenig

Seth has nearly a decade of professional journalism experience and writes about the greater Portland region.