The Minnesota Department of Employment and Economic Development (DEED) today awarded two-year grants totaling $2.7 million to 13 nonprofit groups that provide services and technical assistance to emerging businesses and entrepreneurs in Minnesota.
The Business Development Competitive Grant Program, which was approved during the 2019 legislative session, provides funding to groups that offer business assistance to targeted groups, including women, minorities, rural residents, technology-based companies and entrepreneurs.
“One of Minnesota’s strongest assets is its diverse economy,” said DEED Commissioner Steve Grove. “We need to support businesses of all sizes, all across the state, in order to keep that economy competitive.”
The following groups were awarded funding for two years:
•African Development Center, Minneapolis, $240,000 – This group provides training, lending and technical assistance to help African immigrants and refugees achieve economic prosperity in Minnesota.
•Community and Economic Development Associates, Chatfield, $165,000 – This group will implement the Harness and Harvest program to provide business training and technical assistance to agriculture-related businesses in rural areas in Southern Minnesota.
•Entrepreneur Fund, Duluth, $200,000 – This group helps people in Northeast Minnesota start and grow successful, locally owned small businesses.
•Initiative Foundation, Little Falls, $273,000 – This group will implement the Enterprise Academy Program which will provide tools and support to prepare low-income and minority businesses owners to succeed.
•Latino Economic Development Center, $199,875 – This group provides culturally and language specific small business training and technical assistance to Minnesota’s Latino communities.
•Leech Lake Financial Services, Cass Lake, $100,000 – This project will assist individual entrepreneur to establish and grow new business on the Leech Lake Reservation.
•Lower Sioux Indian Community, $100,000 – This project will provide financial literacy workshops, financial counseling, a business plan development class and Native arts entrepreneurship workshops.
•Metropolitan Consortium of Community Developers, Minneapolis, $320,000 – This group will implement the Open to Business Program Open to assist entrepreneurs in all aspects of business plan development, financing, and technical assistance.
•Minnesota State University Small Business Development Center, Mankato, $274,000 – The center provides programs and services for small businesses and entrepreneurs in the Mankato area.
•Northland Foundation, Duluth, $200,000 – This group will be implementing Small Business Development Center programing which will provides programs and services for small businesses and entrepreneurs in the St. Cloud area
•Saint Cloud State University Small Business Development Center, St. Cloud, $75,625 – The center provides programs and services for small businesses and entrepreneurs in the St. Cloud area.
•Red Wing Ignite, Red Wing, $105,000 – This group provides support, training, and networking opportunities for innovative start-ups and businesses in the Red Wing area.
•WomenVenture, St. Paul, $340,000 – WomenVenture helps women entrepreneurs, low-income entrepreneurs and women-owned businesses to develop and expand businesses and create jobs.
DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services, visit the DEED website https://mn.gov/deed/ or follow us on Twitter.