Sercotec has announced the selection of 45 commercial districts across Chile to participate in a revitalization program aimed at improving business competitiveness and urban environments. Over the next three years, these neighborhoods will receive financial support and technical assistance to implement projects tailored to their specific needs. Planned investments may include upgrades in security, identity enhancement, and sustainable initiatives.
The selected areas include Barrio 21 de Mayo in Arica, the heritage locality of Lota in Biobío, and the historic Yungay sector in Santiago. The initiative is part of Sercotec’s Fortalecimiento de Barrios Comerciales program, which encourages collaborative strategies among local micro and small businesses.
After a public call for applications that attracted more than one hundred submissions, 45 commercial neighborhoods were chosen to benefit from funding and technical support designed to foster collective investment.
María José Becerra Moro, general manager of Sercotec, stated: “This associative public policy is successful because it promotes a vision of competitiveness and productivity that is not limited to competing against each other but broadens that perspective and confirms that by working together, microenterprises and cooperatives can grow and develop as a whole. The new commercial districts joining this initiative will have access to financing and support to drive a project that seeks such associative scaling, generating benefits for both their businesses as well as their neighbors and customers who visit them. This collaborative approach has shown real evidence-based impacts, increasing sales by up to 27% in previously benefited neighborhoods, leveraging new investments by 33%, and increasing foot traffic by up to 50% in these commercial spaces.”
In the first year of participation, each neighborhood will be eligible for up to $20 million pesos for project implementation. Total potential funding over the three-year period could reach $80 million pesos per neighborhood, subject to performance metrics and budget availability.
Projects may focus on improving business offerings, urban design, safety measures, association strengthening efforts, branding initiatives, communication improvements, sustainability projects, inclusive activities, or coordination with care services.
The announcement was made during a National Meeting of Commercial Districts organized by Sercotec in Santiago. The event marked ten years since the launch of the program and highlighted its achievements so far. Since its inception a decade ago, the program has supported 139 commercial districts representing over five thousand businesses throughout Chile. Most investments have targeted brand identity development, business improvements, environmental enhancements, safety measures, increased collaboration among merchants, and urban infrastructure upgrades.
Representatives from both established and newly selected districts attended the event to exchange experiences. Attendees also toured several capital city neighborhoods including Lastarria before concluding with an artistic presentation at Plaza de Armas.
Some neighborhoods are currently undergoing formalization procedures prior to full incorporation into the program.
