Pierce County Business Accelerator

About the Program

Category: Community and Economic Development (Best in Category)

Year: 2023

The pandemic heightened awareness of the lack of access to resources for our underserved communities of color and the fragility of our smallest businesses. This necessitated a focus on building generational wealth in our BIPOC communities through business ownership and entrepreneurship. Pierce County Economic Development Department (PCEDD) utilized $5M of ARPA funds to launch the Pierce County Business Accelerator (PCBA) in October 2021. The program is in partnership with BIPOC organizations in our county to help foster entrepreneurship for 200 BIPOC, veteran and women owned businesses. The PCBA is unique in that the participants receive traditional business training by instructors, trainers, and coaches that reflect BIPOC constituents and speak several different languages. Upon graduation participants receive access to capital managers for them to raise at least $10,000 in capital that is matched by the County (an additional $10k). Each business receives 12 months of commercial rent reimbursement (up to $500/month for a year) and $5,000 of tailored professional services unique to each business. This program is helping create jobs for early-stage businesses and retain jobs for businesses in most need of support to thrive.