In a move aimed at juicing the local economy, Snohomish County Executive Dave Somers has announced a lifeline of $350,000 in grants for 50 small businesses. These grants, distributed under the Small Business Innovation Assistance (SBIA) program, target those grappling with the pandemic's aftershocks and encourage innovative newcomers.
According to county officials, size doesn't always equal strength as 90 percent of the county's businesses have fewer than 20 employees, yet they hold up a significant portion of the local job market. In an effort to support a sector that often operates without a safety net, Somers described these small entities as integral to "the backbone of our main streets and local economy," providing essential services and products.
The SBIA program, backed by the American Rescue Plan Act (ARPA), comes as a collaboration with the Snohomish County Council and offers not just funds but technical assistance to its beneficiaries. This dual-front support is designed to foster long-term resiliency and growth, Somers explained. Congresswoman Kim Schrier echoed this sentiment, highlighting the importance of also funding child care facilities to bolster the workforce's return to normality.
Local nonprofit Ventures, which has a nearly 30-year track record assisting small businesses, will administer the SBIA program. With allocations favoring industries hit hardest by COVID-19 - manufacturing and child care suffered job decreases of 19 percent and 25 percent, respectively - the grant recipients range from child care providers to food services. Each of the 50 businesses walked away with an average of $7,300, a potential godsend for owners still reeling from pandemic-induced closures.
County Council Vice Chair Nate Nehring, representing the area hit hard during the economic shutdown, didn't underestimate the significance of these grants, emphasizing how vital they are for the community's strength and endurance. Meanwhile, Councilmember Megan Dunn looked ahead to the program's promising long-term effects on local businesses. The sentiment of support was matched by Ventures Executive Director Monique Valenzuela, who expressed her organization's gratitude for being involved in this fundamental effort to revitalize the county's small business sector post-pandemic.
