|
FOR
IMMEDIATE RELEASE
Contacts:
The board designated federal funds for economic recovery and a new emergency shelter. Funding comes from the American Rescue Plan Act.
$19M for equitable economic recovery
The county is designating an additional $19 million to aid in equitable economic recovery. This investment will help build wealth in communities hardest hit by the pandemic, as well as help businesses recover and grow into the future. It will support more than 1,300 businesses and nonprofits, and it will stimulate $30 million in investment, positioning Hennepin County businesses and communities for long-term success as we aim to emerge from the pandemic even stronger.
This funding builds on Hennepin County’s strong commitment to supporting businesses through the pandemic. It brings the total funding committed by Hennepin County for small business relief and economic recovery to $93 million.
$8.6M to support small business and nonprofit recovery, resilience, and innovation
- Equitable access to culturally competent expert advising in a wide variety of areas
- Consulting to address technology barriers of nonprofits, disadvantaged businesses, and microbusinesses
- Financial assistance for small businesses, including emerging contractors, to launch, rebuild, and grow
$10M to speed up investment and rebuild more equitable and prosperous communities
- Expand community resources that increase economic opportunity
- Create affordable commercial spaces that build wealth
- Create jobs, business incubation spaces, and ownership opportunities for local entrepreneurs
$400,000 to develop economic mobility and build wealth
- Research ways to connect workers to long-term, family-sustaining jobs in coordination with the Hennepin-University Partnership
Data highlights stark employment disparities
According to the Minnesota Department of Employment and Economic Development:
- As of December 2020, the following demographic groups had, on average, been using unemployment insurance for longer: Black workers, women workers, workers 65 and older, workers who have a high school diploma or less and workers who have a disability.
- People of color continue to experience higher rates of unemployment than white workers. This includes American Indian, Asian, Black, and Hispanic/Latino workers. Black workers have experienced the highest rates of job loss during the pandemic.
- Unemployment rates in Hennepin County have also varied based on geography. Some of the county's most diverse communities show the highest rates of unemployment, while some of the least diverse show the lowest rates of unemployment.
$3.5M for emergency shelter facility
The county is contributing $3.5 million in federal funds for a new shelter that will be part of Simpson Housing Service’s redevelopment project.
Funding will help ensure that Simpson can continue providing emergency shelter, as a key part of the community’s homeless response system. It has been a critical resource during the pandemic, operating at or near full capacity throughout.
Simpson is building a new five-story building, including a shelter, permanent supportive housing, community spaces and a Healthcare for the Homeless clinic. Simpson’s Community Shelter and Apartments will be located at the site of the current shelter in the Whittier neighborhood in Minneapolis.
The county previously contributed an additional $840,000 in supportive housing funds for this project. The City of Minneapolis has committed $1.3 million. Simpson has secured an additional $3.5 million in private gifts and pledges.
Hennepin County will continue to update hennepin.us with information about how we are allocating ARP funding.
Look for more news on the Hennepin County website at hennepin.us/news.
Discover how we're making a difference in our communities at hennepin.us/stories.
|
