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Paramount staff outline economic development gains, Boost grants and propose $15,000 Open Rewards pilot to boost local spending
Summary
City economic development staff reported outreach successes (CoStar subscription, ICSC attendance), awarded Paramount Boost marketing grants to nine businesses and proposed a $15,000 Open Rewards cashback pilot (up to $10,000 reward pool) to incentivize shopping local.
City staff presented a six‑month economic development update at the Nov. 18 council meeting highlighting business outreach, small‑business supports and a proposed local rewards pilot.
Assistant City Manager (as introduced in the transcript) and management analyst Andres Gonzalez described recent activity: attending the ICSC retail conference and meeting 15–20 national retailers; subscribing to CoStar commercial listings to track property availability and ownership; and conducting a community preferences survey that collected 249 responses prioritizing entertainment, parks and fitness and showing strong demand for fast‑casual and Asian/Mediterranean restaurant options.
Gonzalez summarized business support programs: the Paramount Boost Grant offers up to $5,000 for marketing support (signage, menus, promo videos) and has awarded more than $40,000 to nine businesses with additional applicants in the pipeline; a business security rebate program was revived and increased to $2,000 per business in 2024; and a Chamber scholarship fund (launched in February) has supported nine businesses with $2,500 totals remaining in the fund.
Staff proposed procuring an Open Rewards cashback pilot and recommended allocating $15,000 from existing economic development funds — $5,000 for implementation and $10,000 for the reward pool. Gonzalez said the program is customizable and could be automatically applied to linked payment cards or receipts; staff projected the modest investment could generate up to $100,000 in local economic activity if widely used.
Council asked operational questions about redemption mechanics and suggested promotional videos to demonstrate the app. Staff said they will proceed with procurement if council has no objections and will use existing economic development funds for the pilot.
What happens next: staff will move forward with procuring the Open Rewards program using $15,000 in existing funds and continue to administer Boost grants, security rebates and business outreach programs.
