Pendleton Coffee Bean Receives Urban Renewal Grant for Job Creation

Release Date: 
09/07/2016

Pendleton Coffee Bean is the recipient of a $10,360 grant through the Jump Start incentive program of the Urban Renewal District. This grant was awarded for job creation of the equivalent of over 10 new full time employees during its first 12 months of operation.  The district created the Jump Start Incentive Program to assist new and expanding businesses in the district with low-cost loans and other services to increase economic development in downtown Pendleton. 

 

The Pendleton Coffee Bean entered the program in 2014 to obtain assistance in opening a new place of business at 215 S. Main.  The program provides financial loans, grants, and is a conduit for other community discounts to assist small businesses.  More information about this program can be obtained by contacting Charles Denight, Associate Director of the Pendleton Development Commission.

 

The Urban Renewal District was created in 2003 to “promote the vitality of downtown and the Umatilla riverfront as the cultural and tourism center of the Pendleton community”.  The urban renewal program freezes tax revenue to receiving entities at the time of creation, and collects the future increases in revenue to be reinvested into efforts to accomplish its mission.  Since its creation the district has invested $4 million and realized an increase in the district’s assessed property values of $48.9 million through 2015.  Current vacancy in downtown is 7% compared to the national average of 9.1%.