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Business Attraction & Retention in Arcadia
Arcadia Weekly Feb 13, 2019
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New business Shabu Lin recently opened in Downtown Arcadia. – Courtesy photo / Downtown Arcadia Improvement Association
By The Downtown Arcadia Improvement Association
One of the roles of the Downtown Arcadia Improvement Association (AIA) is to attract new businesses to Downtown Arcadia and retain existing businesses already in the area. To help accomplish this, a number of different programs and tools are available for businesses in Downtown Arcadia. In December of 2018, a new Microenterprise Assistance Program was approved by the Arcadia City Council. This program waives several of the typical startup fees for new businesses that have fewer than 10 employees. The goal is to reduce costs to open a new business in Downtown Arcadia and elsewhere in the city.
Another resource available is a Microloan Program funded by LA Metro and the LA Community Development Commission. This program allows property owners to receive low interest microloans to upgrade commercial units near transit stations including the Arcadia Metro Station. Meanwhile, businesses themselves can receive microloan funding through the Small Business Administration to assist with start-up, expansion, and tenant improvement costs. For assistance on business staffing, the Foothill Workforce Development Board is a local non-profit organization that provides small businesses with no-cost help on employee hiring and recruitment. Los Angeles SCORE is another local non-profit that provides free mentoring and low or no-cost workshops for budding entrepreneurs and small business owners.
The Downtown Arcadia Improvement Association (AIA), meanwhile, helps with business attraction and retention through annual events in Downtown Arcadia as well as print and digital marketing. The Downtown AIA funds public beautification improvements in the business district as well. A pilot program to fund forgivable loans for storefront and façade improvements is also being explored for later in 2019.
Finally, the City of Arcadia’s Business-friendly Zoning Code is a great tool for business attraction and retention in Downtown Arcadia. It promotes easy, by-right adaptive reuse of existing buildings in the district, flexible parking arrangements, and a faster and easier approval process for most types of businesses. The code also supports mixed-use residential projects in Downtown Arcadia through increased height and density allowances around the Gold Line Station. By adding new residential to the area, businesses benefit from a ready-made customer base living in the district.
For additional information on these programs or other assistance with starting a new business in Downtown Arcadia, contact the City of Arcadia Economic Development Division at (626) 574-5409.
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