City of Lacey to give monetary grants to local businesses

The City of Lacey has been known to be a supporter of business.  It has developed an Economic Development Fund to help business who want to locate in Lacey.  But recently the city determined that helping its own existing businesses is a good use of that fund.

To that end, the Lacey City Council will take up a measure Thursday evening to give grants of money to small businesses in the city to help them survive the current business shutdown.

“I can’t think of anything more important for economic development than to help keep our existing businesses,” said Mayor Andy Ryder.

The city’s development fund has approximately $2.2 million.  The proposal the council will undertake will tap $500,000 of that money and give it in $10,000 grants to Lacey businesses.  “It’s not much,” the mayor said, “but it will help in the short term.”  If it’s successful, it might be continued with another $500,000.

Ryder said that he has been contacted by several banks who want to help.  “Perhaps we can get them to help with the next round.”

All Lacey businesses can apply for the grants.  The city is working through the EDC which will administer the program.  Go the the Thurston EDC web page to apply.  The cities of Olympia and Tumwater are also currently considering such a program for businesses in their cities.

(Editors note:  It helps to have several business-oriented members on the Lacey City Council.)