Technical Assistance (TA): $20M
BIPOC ownedBIPOC-owned small businesses thrive when they have equitable access to technology and small business operation support. This request includes a base increase to a permanent Business Development Competitive Grant Program, and funding to provide TA to an additional 10,000 businesses.
Training: $25M
Aspiring entrepreneurs and community organizers have the vision to drive equitable recovery. This request includes funding to train 5,000+ owners of start-up and growing businesses and artist community organizers.
Small Business Events: $20M
Events, including creative placekeeping, curated networking and education opportunities, have the potential to connect business owners ready to scale up with institutions ready to support them. The proposed events and workshops would reach 6,000 Minnesotans.
Infrastructure: $152M
To realize equitable economic recovery, community-centered development must extend further than rebuilding what has been lost, by creating more space for BIPOC entrepreneurs. The wide-ranging projects encompassed in this category include shared ownership, physical and digital infrastructure that will provide lasting opportunities for wealth generation in historically underinvested neighborhoods.
Direct Placement: $140M
$80M in grants to help BIPOC business owners sustain their business and recover jobs.
$60M in loans, with a forgivable component, to provide patient, flexible capital to BIPOC business owners who cannot obtain a bank loan to start or grow businesses.
Corridor Redevelopment: $176.5M
This includes $100M to extend the Main Street Economic Revitalization Program, $9.5M for existing projects led by BRC member developers, and $65M for revitalization projects along specific Twin Cities cultural corridors.
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