Award Recognizes SIBC Program for Small, Underserved Businesses and Entrepreneurs
Greater Spokane Inc. (GSI) is proud to announce that its Spokane Inclusive Business Catalyst (SIBC) program has been awarded the 2025 Economic Development Award for Diversity, Equity & Inclusion by the Washington Economic Development Association (WEDA). This prestigious recognition celebrates SIBC’s groundbreaking efforts in fostering inclusive economic growth and providing meaningful support to historically marginalized entrepreneurs in the Spokane region.
The WEDA Economic Development Award for Diversity, Equity & Inclusion honors innovative programs, projects, and partnerships that drive systemic change and expands economic opportunities for diverse communities. The SIBC program, launched in 2023, was designed to bridge economic gaps by equipping underserved entrepreneurs with essential tools, resources, and networks to sustain and grow their businesses.
Since its inception, SIBC has made a big impact on our community. In 2024, in collaboration with local organizations – AHANA, SNAP Financial Access Women’s Business Center, and Aim & Build Consulting & Development, the program successfully graduated three cohorts, supporting 23 entrepreneurs with $5,000 matching grants each, totaling $115,000 in direct investment. The program’s intensive four-to-five-week structure covers vital business topics, from financial management and marketing to strategic planning and business operations, ensuring long-term success for its participants.
The success of SIBC is evident in its measurable outcomes. Graduates of the program have experienced an average revenue growth of 70% within the first year, demonstrating the program’s effectiveness in fostering sustainable business development. SIBC has become a replicable and scalable model for driving inclusive economic growth in Spokane and beyond.
“This recognition from WEDA affirms the importance of supporting inclusive economic opportunities for all entrepreneurs in our community,” said Joey Gunning, GSI’s Strategic Growth Manager. “The Spokane Inclusive Business Catalyst is not just a program – it’s a movement that is transforming the business landscape in Spokane by ensuring that historically underserved entrepreneurs have access to the resources and mentorship they need to thrive. We’re proud to work with our SIBC community partners on this.”
“The SIBC Program and $5,000 grant allowed me to pivot and open a K-beauty Retail Store inside my salon. I have been able to invest in inventory for K-beauty products and did a big launch in September 2024,” said Khuyen Siharath, owner of Self-care Spa and Lounge.
“We are thrilled to celebrate SIBC’s recognition with the WEDA Economic Development Award for Diversity, Equity, and Inclusion. This honor reflects SIBC’s unwavering commitment to fostering inclusive business environments,” said Marvo Reguindin, Executive Director of AHANA. “As partners, we are proud to collaborate with GSI in empowering multi-ethnic and multicultural businesses.”
The SIBC program is one component of the Spokane region’s economic development strategy called Thrive Spokane, a countywide effort led by GSI and in collaboration with community partners to create a unifying vision to foster an inclusive, equitable, and thriving economy.
To learn more about the Spokane Inclusive Business Catalyst program and its impact, read more here: SIBC Program Overview.
