Supporting Minority- and Immigrant-Owned Startups in Minneapolis
Opportunity Zones are facilitating investment in a diverse set of projects across the country that are hyper focused on local needs.
Just outside Minneapolis, Minnesota, a developer is using Opportunity Zone investments to create an 81,000-square-foot coworking space and business incubator focused on minority- and immigrant-owned businesses.
Minneapolis has a strong immigrant community, with 21 percent of residents born outside the United States. The developer is also seeking to have a longer-term impact through a profit-sharing plan that will allow successful startup business owners to share in the profits of the overall project and ultimately help those business owners to purchase space in the building itself.
Opportunity Zones are helping to make this project a reality by providing enough flexibility to allow for innovation and creativity in the local community.
You can read more about the project here.
CLICK HERE to learn more about Ways and Means Republicans’ series highlighting how Opportunity Zones are working and benefiting communities across the country.