The Community Foundation for Greater New Haven has landed a $7.2 million state grant to help boost small businesses run by Black, Hispanic, women and immigrant entrepreneurs.
The Community Foundation celebrated that grant award in a Wednesday afternoon email press release.
That press release states that the Connecticut Department of Economic and Community Development (DECD) awarded $7.2 million to the Community Foundation on Monday “in
support of work to make the small business landscape more equitable. The grant is part of a $46.6 Million statewide initiative to help underserved entrepreneurs and small businesses owners.”
The Community Foundation plans to manage this state award through its subsidiary, The Community Foundation Mission Investments Company (TCF-MIC), “which is working with local entrepreneurial support organizations (ESOs) and small business owners to create business-support network called the New Haven Entrepreneurial Ecosystem (NHE3). The NHE3 will provide a continuum of grants, business consulting and technical services in Greater New Haven, with a focus on serving Black, Latinx, women and immigrant business owners.”
“This award allows us to build on our work, and the work of our collaborative partners, to expand
opportunity through inclusive growth in Greater New Haven,” Foundation President and CEO Will Ginsberg is quoted as saying in the press release. “We are very excited that the State of Connecticut and City of New Haven are in alignment with our goal of ensuring that the benefits of economic growth and expansion reach everyone in our region.”
Click here to read the press release in full.