Mayor Muriel Bowser has allocated $7 million in grants to ensure the progression of small businesses across Washington, D.C. The funding aims to embolden local commerce, a move that highlights the city's commitment to sustaining its unique economic ecosystem. According to a release from the city's official website, the Fiscal Year 2024 allotments were disseminated among 41 small and local businesses, with individual grants ranging from $25,000 to $250,000.
In a demonstration of the District's resilience and innovation, the Mayor announced the significant investment during an event at the DC Arts Center, a past recipient of the Great Streets grant. Mayor Bowser encapsulated the sentiment saying, “With every grant awarded, we’re fueling innovation, creating opportunities, and building stronger communities across all eight wards.” Continuing, "These investments don’t just help businesses thrive—they uplift our neighborhoods, create jobs, and ensure that DC continues to be a city where creativity and entrepreneurship flourish," as stated in the city's announcement.
This round of funding supports a wide range of businesses, including Arcay Chocolates, Blue’s Coffee & Tea Co., and Femme Fatale, each reflecting different sectors of the local economy. Notably, Blue’s Coffee & Tea Co. is a Black-owned business that plays a key role in creating space for minority-owned businesses in a highly competitive market. Shea Yeleen Beauty stands out for its co-manufacturing facility and tech hub, designed to reduce market entry barriers for plant-based BIPOC beauty entrepreneurs.
Since their inception, the Great Streets Retail, Locally Made Manufacturing, and Neighborhood Prosperity Fund grant programs have awarded over $49 million to more than 550 businesses across the District. As Deputy Mayor Nina Albert stated in the city's annoucement, these initiatives are not just financial investments; they are fundamental to building vibrant, thriving neighborhoods. She was quoted, “Through Mayor Bowser’s investments, we will continue to foster an inclusive business environment where opportunity thrives in every ward of our city.” These initiatives have yielded significant results, leading to the creation of over 2,250 jobs.
The investment strategy behind these grants is multifaceted. The Great Streets Retail Grant program supports retail and small business owners along eligible corridors by assisting with growth and infrastructure upgrades. The Neighborhood Prosperity Fund focuses on linking community development with economic growth. For business owners interested in applying for next year’s grants, FY25 funding applications will be available soon, with further details accessible on ObviouslyDC.gov.
