Wednesday, May 11, 2011

City of Winston-Salem Economic Development Initiatives

Urban Commercial Areas
The City of Winston-Salem has also launched or continued a number of economic development initiatives and programs. The Revitalizing Urban Commercial Areas (RUCA) Program was approved in 2006. The RUCA program provides assistance to business owners in targeted declining commercial areas. The first round of funding included Waughtown Street, Washington Park and Liberty Street. In 2011, the City agreed to extend the program to more declining commercial areas. Since the adoption of the 2001 Legacy Plan, the City also created a business ombudsman position within local government to specifically help businesses deal with permitting or other issues.

The City has continued its support of the revitalization of brownfield sites. A Revolving Loan Fund is available for eligible sites, one brownfield site was actually adapted to become the Arts Based Elementary School. The City also provides a Small Business Center for local entrepreneurs and a Economic Development Revolving Loan Program. There are a number of programs available in the City’s designated Neighborhood Revitalization Strategy Area (NRSA) including the Target Area Business Assistance Program and the Building Rehabilitation Program.

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