Over $5 Million Invested in 25 City Programs Accelerates Santa Monica’s Economic Recovery

February 21, 2023 9:03 AM
by Jennifer Taylor

Over the past three years, Santa Monica has accelerated its economic recovery following the devastating impacts of COVID-19 by implementing more than 25 programs to support the community. From prioritizing Santa Monica’s basic needs related to housing, food, and public health, to keeping our businesses open and workers employed by implementing permanent outdoor dining and zoning changes, our recovery work has gone above and beyond what other cities of our size could accomplish. Here’s a roundup of our efforts, links to a few key background presentations (October 27, 2020 City Council Presentation, June 8, 2021 City Council Presentation, September 28, 2021 City Council Presentation), and related announcements to recap what we have accomplished over the past three years.

As we look ahead, there is more work to do but the future is bright for Santa Monica, with major new investments planned across the residential, hospitality, retail, entertainment and fitness industries, ranging from new construction concepts to revitalization of existing infrastructure. The City has recently announced over a dozen new business developments coming to downtown Santa Monica, amounting to billions of dollars in planned investment that will accelerate Santa Monica’s recovery from the COVID-19 pandemic and redefine its downtown leading up to major international events such as the 2026 FIFA World Cup and LA28 Olympics. These new investments bring community benefits, create jobs, generate funds through sales tax and other revenue sources, and promote equitable recovery through the expansion of affordable housing, public open space, and access to arts and culture, in addition to providing sought-after retail and hospitality services.

2020 – 2023 Key Accomplishments

Meeting Basic Needs

Keeping Businesses Open and Workers Employed

Providing Pathways to Entrepreneurship and Engagement

Welcoming Visitors Back to Santa Monica and New Downtown Investments

Economic Recovery Task Force

The Santa Monica Economic Recovery Task Force was created in April 2020 and focuses on the following five policy areas:

The Task Force, along with expert business and community economic development advisors, was convened to advance recovery, identify key action items, and serve as local champions for each area. More than $5 million dollars (excluding staff salaries) has been invested in the City’s recovery from a variety of sources:

The Task Force has been transitioning to sustainable, long-term operations that will continue to support and sustain the economic viability of our businesses and City and ongoing efforts to ensure that Santa Monica is a clean, safe, and welcoming community for all.

Looking Ahead

Since the onset of the COVID-19 pandemic, the City of Santa Monica has deployed a comprehensive and effective approach to accelerating the city’s economic recovery, implementing more than 25 programs to support the community. Efforts have prioritized the immediate needs of residents and local businesses while also maintaining a forward-thinking vision for sustainability and long term economic growth. For the latest information on the City’s economic recovery efforts, please visit santamonica.gov.

Authored By

Jennifer Taylor
Economic Development Manager


Business, Business Programs