Downtown Tacoma's newest employer, State Farm, has designated $200,000 for community revitalization in the city.
Tacoma is one of 11 cities across the nation where the Illinois-based insurance company and the Local Initiatives Support Corporation will spend a total of $4 million for "comprehensive community revitalization," a company spokesman said.
State Farm announced last spring that it would employ up to 1,100 people downtown, both in the former Russell headquarters building and at the Columbia Bank Center on A Street. The company started moving in last fall.
The company now expects to employ about 1,500 people downtown "in the coming months," spokesman Brad Hilliard said in an email this week.
The community grant will be administered by a local LISC partner, Impact Capital, which is a nonprofit community development financial institution that works statewide. In Tacoma specifically, Impact Capital has had a presence for two decades, providing more than $10.5 million in loans and technical assistance for 36 affordable housing and community facilities projects.
This spring, Impact Capital will host community roundtable meetings with local organizations and community members to determine how to best use the grant.
“We are committed to safer, stronger, better educated neighborhoods,” Hilliard said. “Impact Capital’s comprehensive approach to community revitalization is an ideal framework for a vibrant and sustainable Tacoma.”