Mayor Katie Wilson announces proposed 2027-2028 budget – OED highlights
Mayor Wilson’s 2027-2028 Proposed Budget focuses on providing responsible fiscal management of public funds for the people of Seattle. The mayor’s first budget begins the important, necessary work of stabilizing Seattle’s budget so that we can continue to provide essential services to the people of this city in place of one-time boosts of funding to solve long-term systemic issues.
The people of Seattle deserve good government that delivers a city that is safe, affordable, and inclusive for all of Seattle’s residents. Mayor Wilson’s 2027-2028 Proposed Budget is structured to provide it. The decisions made in this proposed budget are not easy and come amidst a difficult backdrop of an inherited ongoing General Fund deficit that is compounded by actions taken at the federal level. Mayor Wilson’s budget is intended to help Seattle residents build a resilient city and create the conditions for lasting prosperity by making real progress towards closing the deficit and breaking the cycle of annual budget crises.
For the Office of Economic Development, the 2027-28 proposed budget maintains core services and continues to invest in the Future of Seattle Economy framework. This framework, adopted as City policy in Resolution 32099, provides a community-driven investment strategy for the City to promote inclusive economic growth.
- Prioritizing strategies and programs that deliver direct impact, including technical assistance for small businesses, and our continuum of investments to build community wealth and expand access to commercial real estate. Importantly, this budget proposal also maintains the operational and staffing capacity necessary to implement these programs.
- Building healthy business ecosystems in our neighborhood business districts, leading to fewer storefront vacancies, a strong business mix, and active public spaces.
- Developing and deploying initiatives that attract, grow, and retain industrial, innovative, and creative industries that have jobs that pay higher-than-average wages, bring new capital into the economy, and add variety to our economic base,
- Continuing to solidify the proactive stance of OED’s Special Events Office, in accordance with the Special Events Vision
Over the next year, we will also be working in partnership with the newly-announced Resilient Seattle Economy Task Force, which will bring together leaders from across Seattle’s economy to review findings from our recently-released business climate assessment to identify opportunities and gather input on coordinated action from business, labor, community and civic stakeholders.
The main changes for OED in the 2027-28 proposed budget are the transfer of funding from the Office of Sustainability and Environment for small business supports in the Duwamish Valley, and aligning budget and staff capacity with the strategic direction of the department.
For more information on the proposed budget, read the Mayor’s press release on her blog.
Over the next two months, the City Council will review Mayor Wilson’s 2027-2028 Proposed Budget. Public hearings are on Tuesday October 6 and Thursday November 5. Final adoption of the budget is expected on Friday November 20. Press questions may be directed to MOS_Comms@seattle.gov.
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