Supporting Economic Growth and Local Businesses
The City of Norwalk has a strong commitment to supporting local businesses. It offers a range of programs and resources to help small businesses start, grow, and thrive. The City hosts regular events and festivals to showcase local businesses and promote the community's unique offerings. Additionally, Norwalk strives to create a business-friendly environment by streamlining permitting processes to eligible businesses. Finally, the City encourages residents to support local businesses by promoting "Shop Local" campaigns and highlighting local businesses on its website and social media channels. The City supports economic growth and local businesses through its:
Funding Dedicated to Supporting Small Businesses
Since the establishment of the Business Development and Tourism Department in 2018, the City has committed over $4.7 million in support of small businesses through City funding, as well as Federal funding from the American Rescue Plan Act (ARPA). Of the $4.7 million the City has already committed, over $2 million has been allocated to the business community through grants from the COVID-19 Mitigation Program, the Kiva Microgrant Program, and the Storefront Improvement Program. The Department plans to use the remaining $2.7 million for additional grants and place-making improvements, including the Small Business and Main Streets Program, the Kiva Microloan Program, the Storefront Improvement Program, and the Norwalk Innovations Program.
- Source: MUNIS ERP system (City, State, and Federal Funds)
- Note: Year 2021, 2022, 2023 includes American Rescue Plan Act dollars. This chart reflects current year-to-date data.
Norwalk Unemployment Rate
The City of Norwalk's unemployment rate is hovering around the national average. The City of Norwalk has a thriving economy, which allows many residents to live where they work. The preliminary August 2023 unemployment rate for the state of Connecticut was estimated by the BLS Local Area Unemployment Statistics program (LAUS) to be 3.6%.
Data Source : Current Labor Force Data for Connecticut Towns
Promoting Norwalk Businesses via Marketing Impressions
In 2021 the City of Norwalk launched its Visit Norwalk website and social media platforms to create a free marketing opportunity for Norwalk small businesses and non-profits. The City of Norwalk and the Norwalk Parking Authority invest in paid advertising to draw people to visit Norwalk with the goal of supporting our businesses and local economy. This is yet another asset that the City of Norwalk offers as a free service to the business community. https://www.visitnorwalk.org/
Note: * Year 2022 and 2023 included a YouTube and geofencing campaign in addition to social media campaigns
Source: DKA KPI Dashboard