Economic Activity

The Economic Activity Working Group meets every fourth Thursday of the month to discuss ongoing initiatives and identify new opportunities to drive economic growth. Committed to boosting local economic development, this group works with stakeholders to strengthen small businesses, attract investment, and enhance access to economic resources for the Promise Zone community.

Resources

Meet the Lenders - Connecting with Capital
7 February 2025 | 9:00 - 10:00 am | by South San Diego SBDC
Learn from the SBDC and a panel of lenders about what small business capital is available and what the debt capital markets (lending) has in store for 2025.
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Grants and Programs for Small Businesses & Organizations Located in the Promise Zone | City of San Diego
Explore grants and incentive programs available to small businesses and organizations in the San Diego Promise Zone. These programs offer financial support, fee reductions, and funding opportunities to promote economic growth, storefront improvements, and business development.
Small Business Loans | Accessity
Accessity opens the doors of financial opportunity for entrepreneurs through access to small business loans and a community of support and resources.

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CDBG Funding Supports Organizations Serving the Promise Zone

April 2024 - As part of its annual Community Development Block Grant (CDBG) Request for Proposals process, the City of San Diego awarded Promise Zone bonus points to organizations that are based in or serve residents within the Promise Zone. In the FY 2025 funding cycle, 9 out of 48 applicants received bonus points for having a primary location in the Promise Zone, while 37 applicants earned points for providing services to Promise Zone residents. Of the 34 CDBG awards announced in April 2024 (for the contract term July 1, 2024 – June 30, 2025), 13 grants were awarded to nonprofit organizations supporting communities within the Promise Zone.

Promise Zone Team Hosts Two Cooperative Convening Events

May 2024 - The Cooperative Convening I & II events took place with the goal of informing interested parties about the benefits of worker-owned co-ops in business, food, and housing. The first event was held in-person and had a total of 46 attendees who listened intently as Café-X owner Cynthia Ajani described how being a member of a cooperative benefits her business. A similarly attentive audience of 24 individuals attended the Zoom-based Cooperative Convening II event where Urban Planner, Grant Ruroede alongside small business owner, Kirk Vartan shared their personal experience converting Grant’s traditional business to a worker-owned coop and why they are now lobbying the State Legislature to make becoming a co-op less daunting.

The Promise Zone Team Participates in Barrio Logan Business Walk

May – July 2024 - During the Summer Break, the Economic Activity Working Group participated in the Barrio Logan Business Walk on June 27, 2024, alongside the City of San Diego’s Economic Development Department. During the 2-hour walk, representatives from 8 partner organizations helped reach out to 78 businesses to hear about any concerns they had with operating their businesses in the Promise Zone. The feedback they received from business owners about the myriads of safety concerns surrounding infrastructure has helped influence the shift in the working group priorities to more directly address safety.

The City of San Diego Receives its Promise Zone Designation in June 2016

June 2016 - The San Diego City Council officially ratified the Promise Zone designation agreement, approving a 10-year designation ordinance to formalize long-term investment and collaboration. The same month, California Volunteers awarded a planning grant to the City to support the hiring of a planning and implementation consultant, who will work closely with the five Promise Zone Working Groups to develop the San Diego Promise Zone Plan.

The City Drives Investment with Promise Zone Tours

2017 - The City partnered with Civic San Diego to engage developers and investors through a bus tour of the San Diego Promise Zone, led by community leaders. These tours highlighted key assets and available spaces, encouraging investment and development.

Storefront Improvement Program Expands to Promise Zone Businesses

2017 - The City of San Diego’s Storefront Improvement Program collaborated with the Promise Zone to support local businesses in enhancing their storefronts. This initiative aims to beautify neighborhoods, increase business participation, and improve walkability in commercial corridors.

Enhanced Storefront Improvement Incentives & Business Walks Strengthen Local Engagement

2018 - The San Diego Promise Zone secured special incentives for businesses within the Promise Zone, increasing reimbursement from 50% to 66% on storefront improvement projects up to $12,000. SDPZ also launched Business Walks, an initiative where SDPZ partners engaged local business owners door-to-door. These walks informed businesses about available city programs, introduced them to the Promise Zone, and encouraged involvement. Business Walks h continued on a monthly basis, with plans to expand in the following year.

Empowering Small Businesses with Financial Assistance and Peer Support

2021 - The Economic Activity Working Group dedicated meetings to collaborate on best practices for assisting businesses access capital and receive technical assistance during the pandemic. As part of this effort, the group launched a Promotora (Community Ambassador) pilot project, which empowered and compensated local business owners to serve as ambassadors for their peers. Based on these discussions, the working group played a direct role in shaping the Small Business and Nonprofit Relief Fund, developed in partnership with The San Diego Foundation and the Small Business Development Center network.

Strengthening Small Business Support Through Asset Mapping

2021 - The Economic Activity Working Group focused on expanding and strengthening its network of support for small businesses in the Promise Zone. To achieve this, the group conducted an asset map exercise to build a referral network among partners and identify service gaps to advocate for additional investment. The working group’s co-chair provided strategic oversight, while VISTAs contributed by compiling data, scheduling 1-on-1 partner check-ins, and regularly updating the working group.

Assessing Banking Access to Expand Financial Resources

February 2023 - The Economic Activity Working Group conducted an ATM audit within the Promise Zone to assess ATM fees, dollar bill increments, hours of operation, language accessibility, and types of ATM (bank, credit union, or independent). This Phase 1 walking audit provided critical data on banking accessibility in the Promise Zone and helped inform the City’s partnership with California Coast Credit Union to expand banking resources. Additionally, in May 2023, the Financial Wellness Center was launched within the Promise Zone to offer financial education and resources to community members.

Investing in Partners Through Financial Assistance Grants

August 2023 - The San Diego Promise Zone partnered with Cal Coast Credit Union to offer the Partner Financial Assistance (PFA) grant program, designed to support capacity-building efforts of partner organizations. A total of 30 organizations requested over $336,000 in funding to support various projects. After a review and scoring process by City staff and Cal Coast Credit Union representatives, eight organizations were awarded a total of $70,500, with awardees announced in October 2023.

Meetings

February 27 Thursday