Business Development Committee
Are you a Lake City Business Owner interested in joining the LCFF Business Development Committee? Contact: Director@lakecityfuturefirst.org
Seattle OED’s Business Retention and Expansion
Arts to Activate Spaces
Attract and retain entrepreneurs, employers, and workers.
Create a vibrant and attractive business district where a mix of businesses can be incubated and small independent business owners can flourish. Our approach will include property and business owners and will be transparent.
Elements include business attraction/retention, retail and small business growth, park activation, and business development. Guide action through market research, real estate and business inventories, catalytic development opportunities, and business education.
The Business Development Committee will align its principles with the LCFF Strategic Plan to:
- Harness the energy, interests, and passions of Lake City businesses, partner organizations, residents, and other stakeholders to bring everyone together in order to address common issues as a group.
- Celebrate the rich culture in Lake City with meaningful gatherings of diverse communities within Lake City.
- Listen to the community.
- Speak on behalf of Lake City with a strong voice to:
- be a visible and leading advocate for effective leadership in Lake City
- guide business retention and economic development
- enhance urban design and public spaces
- ensure community well-being
- promote the district
- Advocate for all businesses and residents, all income levels, and all needs, to make it possible for a diverse, vital, and inclusive community to live, work, and enjoy Lake City.
Unique local businesses are the strength of the business district. We will:
- Lead a robust business community that supports a vibrant economy and shared prosperity in Lake City.
- Work to attract a variety of unique local businesses to strengthen our business district.
- Provide assistance to local small businesses.
- Promote open-minded community conversations to enable collaboration, support creativity, and inform group decision making.
- Strive for consensus among business owners for what is best for the district.
- Survey other LCFF committees to learn how we can work together on initiatives that improve the business district.
- Balance job needs with local entrepreneur opportunities.
Recommended Strategies to Achieve the Goals and Committee Mission
Business Support and Retention: existing merchants create a district’s character and identity and provide important goods and services to residents. Working to support and strengthen these businesses to help them stay and thrive in the neighborhood can lead to expansion of available goods and services as well as job growth. Many existing programs help merchants find technical business assistance such as marketing, accounting or merchandising support, and/or assist in finding loans for stabilization or expansion.
Current Market: provide the necessary data and analysis to learn about demographic and spending power of the neighborhood. These tools will help existing business better market their services or meet existing demand, and provide the foundation for strategies to attract new businesses.
Business Attraction: activities to promote the district to realtors, brokers or business owners with brochures or other materials. Possibly identify specific retailers that could contribute most to the district and reach out to them. Other revitalization programs act like a commercial broker and market specific vacant properties.
Business Development Catalytic Projects
(from Strategic Plan)
- World of Tastes Passport Program
- Minor Facade Improvements
- Empty Store Front Arts Project
- Work with DoN’s POEL Program