September 21, 2010
The Grow Tacoma Fund, a small business revolving loan fund administered by NDC’s Grow America Fund and seeded with a $2.0 million investment from the City, has to date made 31 loans, financed $13 million in project costs (leveraging the City’s investment six times over) and retained or created 497 jobs.
Stadium Thriftway, recently profiled in the Tacoma News Tribune, is the only independent grocery serving downtown Tacoma. Owner Mike Hargreaves accessed Grow Tacoma Fund dollars to finance a building expansion and new machinery and equipment. Stadium Thriftway added 30 new employees to its existing staff of 60 and was able to maintain its niche in Tacoma’s urban core as a purveyor of high quality foods with excellent selection and service, including weekly deliveries to local elderly residents.