RETURN ON INVESTMENTS

ECONOMIC DEVELOPMENT INITIATIVE IMPACT

How the money will likely be spent based on earnings level of target jobs for Believe Spokane

HOW THE MONEY WILL LIKELY BE SPENT BASED ON EARNINGS LEVEL OF TARGET JOBS FOR BELIEVE SPOKANE

Economic Development Initiative Impact

Food

Dining out

Housing, shelter

Utilities, fuels, and public service

Housing, other

Apparel and services

Vehicle purchases

Transportation, other

Healthcare

Entertainment

Personal care products and services

Personal insurance and pensions

Other expenditures

Economic Development 1

Create 5,000 jobs and $1 billion in new capital investment through targeted business recruitment and expansion efforts in targeted sectors

ACTION 1

Q1 Campaign Update

Identified, applied, and notified of $450,000 grant award from the Dept. of Commerce in partnership with AeroFlite to support the expansion of their facility and workforce (appox. 85 additional jobs). $30M capital investment opportunity.

ACTION 2

Promoted a new sales tax deferral on manufacturing equipment and facilities to area manufacturers. The deferral passed in the 2021 session with GSI support.

ACTION 3

Supported legislation that resulted in the AeroFlite expansion being eligible for aerospace tax credits and sustainable aviation fuels legislation.

Establish an Opportunity Fund to ensure the region can proactively react to unique growth opportunities

Increase revenues for 50 underrepresented businesses by 25% in year one and 50% in year two after utilizing the accelerator

ACTION 1

Placed $75,000 in GSI’s investment fund to enable future, proactive response relative to new community growth opportunities.

ACTION 1

Identified four trusted brokers to assist with accelerator program participant referrals.

ACTION 2

Developed criteria for program participants to receive a “Believe in Your Small Business Grant” award following their accelerator training.

ACTION 3

Identified a resource (Kiva) as one opportunity for businesses to identify matching funds for their community accelerator grant.

ACTION 1

Connect 100 underrepresented businesses with assistance and resources to promote the growth and expansion of existing companies and small businesses

Provided support services to over 50 underrepresented businesses (40% BIPOC, 32% women, and 28% veteran).

ACTION 2

Worked to integrate existing tools that will assist in the identification and tracking of BIPOC and women-owned businesses assisted by GSI.

ACTION 3

Partnered with prime contractor in an event attended by 19 potential subcontractors to learn the certification process of Office of Minority Women Business Enterprise.

TALENT ATTRACTION & RETENTION 2

Establish Spokane regional partnerships, bridging businesses with education sectors to provide a minimum of 300 internships for post-secondary students

ACTION 1

Q1 Campaign Update

In the design phase of creating an Internship Network Model to better connect interns to the Spokane region to strengthen talent attainment. Target: Establish model by Q3 2023.

ACTION 2

Active lead generation occurring with businesses and postsecondary schools for the creation of new internship opportunities.

Provide workforce and employee upskill training support for 100 underserved businesses in the Spokane region through external partnerships and/or grant funding

ACTION 1

Hosted 40 regional partners for the Career Connect WA (CCW) Round 11 grant writing support sessions offered by the GSI Career Connect Northeast staff in February and March 2023. Winter 2022, grant writing sessions supported five of our regional partners to earn over $550,000 in CCW Program Builder funding.

ACTION 2

GSI co-hosted Career Connect WA (CCW) virtual legislative visit to highlight three of our region’s active CCW Program Builders: Machinists Institute, WSU Stevens County, and NEW Health

Provide 5,000 students in the Spokane region career pathway experiences prior to high school graduation in partnership with Career Connect Washington and the Spokane STEM Network

ACTION 1

GSI led the first two Business AfterSchool events and partnered with regional educators for the successful Eastern Washington Regional Science and Engineering Fair. These two events supported 310 students in a career explore opportunity.

ACTION 2

Career Connected Northeast established an events page on the GSI website for regional partners to post their career pathway experiences. There were 22 career explore opportunities posted in Q1.

Establish additional Spokane regional business and education partnerships to develop 30% more career pathways and the progression through pathways to postsecondary education and/or employment

ACTION 1

Utilized THRIVE Spokane results to build partnerships, career pathways, and funding supports within targeted employment sectors to support our region’s economic growth.

ACTION 2

GSI received a $150,000 National Governor’s Association grant through the WA Student Achievement Council, in partnership with the Governor’s Office, WSU, and the WA Workforce Training Board, to establish a community of practice to meet the grant’s goals of having 20 people using a learning and employment record (LER).