Business Retention and Development Committee Agenda and Packet 2020 07 06

Home Browse Search

CXtyof BUSINESS RETENTION AND Louisville DEVELOPMENT COMMITTEE COLORADO -SINCE 1.878 SUBJECT: DISCUSSION- IDEAS FOR BUSINESS SUPPORT DURING RE- OPENING AND RECOVERY DATE: JULY 6, 2020 PRESENTED BY: MEGAN E. PIERCE, ECONOMIC VITALITY DIRECTOR SUMMARY: Although some of staff's planned initiatives and regular programming was disrupted by the COVID-19 pandemic this spring, the unprecedented circumstances created new opportunities for business support and retention. In the short-term, staff will continue its focus on re -opening and recovery, and over time, will consider how newly developed programs or initiatives may become part of the City's long-term strategy. DISCUSSION: Both the Council Economic Vitality Committee (EVC) and the Louisville Revitalization Commission (LRC) have been involved with proposing possible next steps for business recovery programming. Some of the brainstorming among those groups included: Louisville gift card program, assistance with special event re -programming, continued learning and development opportunities, business coaching/consulting, fagade improvement program, and assistance with business building projects. Below is a summary of current programs in development. Louisville Business Webinar Series In April and May, the City (in partnership with Gambale Labs) developed and launched a webinar series exclusively for Louisville businesses: Thriving in Business Uncertainty. It was originally planned to be a weekly, four-part series, but based on positive feedback and engagement, a fifth webinar was offered. Staff is currently working with Gambale Labs on a second webinar series, which will be focused on business reinvention and resiliency. Staff also offered three other business webinars in May, including Website 101, Energy Efficiency with Xcel, and Telework with Commuting Solutions. Business Recovery & Improvement Program Staff is working with the EVC and LRC on a program to incentivize businesses making investments or reinvestments in their business as a result of the pandemic (please see more detail in Attachment #1). The detailed program eligibility and criteria is still in development (and requires City Council approval), but businesses would be able to apply for matching funds (50%, up to $10,000) to undertake improvements to their building or changes to their operations. It is anticipated that if approved, the program would launch in August or September. Marketing & Communications Since staff launched the Support Local campaign in March (https://www.louisvilleco.gov/business/economic-development/support-local/support- Agenda Packet P. 8