Mayor Sam Adams unveils 3 new initiatives that are slated to help underserved communities

Dear Portlander,

This afternoon, Multnomah County Chair Jeff Cogen and I made an exciting announcement at the Immigrant and Refugee Community Organization in East Portland. In partnership with the Portland Development Commission, we have three new initiatives that will infuse resources into underserved Portland-area neighborhood business districts, boosting small business growth and neighborhood prosperity in priority areas of east Portland and Multnomah County.

This is a huge step. In the six short months since the City Council endorsed PDC’s Neighborhood Economic Development Strategy, we are moving these important initiatives forward. We’re committed to an equitable future for all Portland residents. To do that, we must change the way we invest, and the way we work with each other.

Here’s how we’re going to do that:

Chair Cogen unveiled a county-wide microloan program, the first of the three initiatives. The microlending program, which will be accessible county-wide, will help businesses get access to the capital they need to succeed.

“The poor economy continues to hit everyone in our community pretty hard, especially small and emerging businesses,” said Multnomah County Chair Jeff Cogen at today’s announcement event. “This program is especially a must for people of color and immigrants who often face hurdles getting even small loans.”

I also announced the Small Business Development Program, developed by the City of Portland and PDC to grow and strengthen existing small businesses through technical assistance and training. A total of $450,000 will be allocated among five non-profit organizations, to support assistance for approximately 150 to 200 businesses over the course of the next year.

The third initiative, which I originally outlined in my February 2011 State of the City speech as neighborhood opportunity districts, is the Neighborhood Prosperity Initiative (NPI). The NPI will focus investments in priority neighborhoods to boost neighborhood business growth, provide economic development opportunities, and improve community-wide prosperity. This initiative also implements key objectives outlined in the Portland Plan, the City’s strategy for a more prosperous, healthy, equitable Portland.  Successful neighborhood businesses are the core of vibrant neighborhoods.

Therefore, the NPI will focus investments in priority neighborhoods to boost neighborhood business growth, provide economic development opportunities and improve community-wide prosperity. Six proposed areas – NE 42nd Avenue; Cully Boulevard; Parkrose; Rosewood; SE Division Street from 124th to 148th Avenue; and SE Division and 82nd Avenue ( click here for a map) – will use public and private funding for a continuum of services that position businesses for economic success. The final selection of areas in January 2012 will be based on milestones met, community interest, and commitment.

For too long, these neighborhoods have been ignored. The City and the County, in partnership with the Portland Development Commission, are striving to change that–to demonstrate our commitment to equity, our commitment to making all our neighborhoods healthy and competitive, and our commitment to creating jobs and improving all facets of Portland’s economy.

Sincerely,

Sam Adams

Mayor

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