City Council adopts 2025-2026 budget, what that means for OED

The 2025-2026 budget approved by the Seattle City Council reflects the continued alignment of our work to build a more competitive and inclusive economy in Seattle.

As we reshaped our budget to reduce spending for the 2025-2026 budget cycle, we focused on work that advances a One Seattle approach and the community-driven Future of Seattle's Economy investment Agenda for economic development. We're focused on leading projects and making investments that open up access to economic opportunities, reduce the racial wealth gap, and encourage innovation and growth.

Despite challenging budget circumstances, we're dedicated to providing excellent service through our staff, focusing on programs that create an equitable economic future, and utilizing matching investments from the regional, state, and federal level.

Key changes to our budget include:

• Assessing workforce development programs. We're working with the Mayor's Office on a citywide assessment of workforce development investments and programs. This will help us develop a Citywide strategy to improve workforce development programs.
• Focusing our placemaking strategy on the pathways to becoming a Business Improvement Area. There are currently 11 BIAs across the city. These are one of the most effective ways the City can partner with neighborhood business districts to identify common goals and achieve shared outcomes.
• Adding capacity to the Special Events Office. This historically understaffed function at OED is critical to leading the City's complex permitting for special events, including preparations for the 2026 FIFA Men's World Cup.
• Advancing the Mayor's Downtown Activation Plan. We're continuing our work to make Downtown a vibrant and exciting play to work and visit. That includes public space activations, filling vacant storefronts, and longer-term economic development initiatives.

Our overall budget for 2025-2026 will be about $31 million per year.

You can find information on the approved budget on the Seattle City Council Blog.