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Springboard Economic Development Corporation (SEDC) position is prior to attempting enhance the North Minneapolis Community economic well being and to foster economic development, the first step, must be Capacity-Building for local residence and businesses. Historically, established and establishing businesses in The North Minneapolis have been unable to obtain funding. Notwithstanding the traditional unfavorable perceptions of, it’s bordered up homes, crime rates, drugs and other unfavorable activities. The most and often overlooked factor is the perception being of being extremely unknowledgeable as to how businesses work. The business profile in North Minneapolis consists mostly of small owner operator type operations, barbershops, beauty salons, liquor stores and dentists. Within our boundaries there is one major grocery chain. These single owner operator type businesses are unable to hire, train or inform residence as to how businesses actually function. Therefore, it’s our opinion in order to increase the economic well being, we must first build the training, seminars, field trips and hands on methods to further and enhance the capacity of the residence and businesses to develop and maintain economic independence through our lives. .
The mission of Springboard Economic Development Corporation is to focus on Capacity Building through educating, developing and building the capacity of residents to support and grow businesses. Through a series of strategic partnerships, Springboard Development Foundation will bring to the table a business like professional approach to institute means of working with existing businesses and the community to build the capacity in this area.
First we will institute processes that will enable businesses and residences to obtain the necessary experiences, skills and backgrounds necessary as to the practical and day by day methods and operations of a business or businesses. This in our judgment has been a major deficient aspect of existing endeavors that has center on obtaining technical and computer skill, accounting and development of business plans.
While these skills are important, experience has shown without the practical day to day knowledge of how businesses work, chances of success in our judgment is limited. Our knowledge base methods will create economic stability, lowering unemployment while creating independence and economic success with opportunities not offered by the current social service base processes. Far to long social service or social engineering processes have been employed with little or no success. SEDC will not duplicate or continue previous tried and unproven actions. SEDC, through its principals, realize the necessity to establish the foundation for which to build a sound a lasting, vibrant and economic stable community. SEDC will employ methods and processes in our area by which residence and business can use with proven outcomes, for economic development and community engagement previously unheard of or seen.
Currently local community agencies have overlooked to create, attract or maintain businesses opting to provide superficial programs that give participants a false since of success, providing only a certificate of completion and no real-life exposures or collaborations with metro wide business owners to programmatically mentor graduates that are interested in a particular field of business or study. Minneapolis’ African-American focused social service agencies have become an industry onto themselves, out of touch with the real issues of the communities it was intended to serve in the first place. Building the capacity of residence or businesses is outside the skill set of most social service agencies. Most agencies are without the capacity or direction to go out into the community and get ideas on what people want then create active programming around their needs that should be addressed in North Minneapolis. Community social service agencies are without the skill to work with businesses to build capacity that would create a pipeline to employ residents. Most programs are failing to complete a full circle of involvement that would show deliverables to the community, skewed to the communities needs.
*In 1997 Minnesota had 7,837 Black-owned businesses with sales and receipts totaling $682,442. In 2002 (*the most current data available from the U.S. Census Bureau), Minnesota shrunk to 4,024 Black-owned businesses with sales and receipts of $523,126. The numbers show a drop of 51.35% in Black-owned businesses with a loss of sales and receipts $159,316 or -23%. **In 1999, the median income for North Minneapolis, or Near North was $22,400. This figure was still $15,000 less than the city wide median income of $37,400 - (**City of Minneapolis website). Near North or the area of Springboard’s engagement activity will extend from Lyndale Avenue North (E), to Theodore Wirth Parkway (W), and from the border of Brooklyn Center, Minnesota (N), to Cedar Lake Road (S).
Hennepin County (Minneapolis) has a poverty rate for African-Americans of 34.6%, the highest in the state for a race of people. African Americans in Minnesota are the majority in both empowerment zones (north & south), followed by Whites, Hispanics, Asian, Native-Americans and Solmalians. The North side of Minneapolis has seen no growth in 40 years of new business to build capacity to hire from the community. Today there is not one business owned by an African-American that employs 50 people. To look at the big picture - there are businesses that have over 50 employees, but they are well established franchises, such has grocery stores, bank hubs and dairy manufactures.
Springboard Economic Development Corporation will engage, develop, monitor and promote capacity building for businesses; develop blighted areas; establish and maintain business relations in the community has it relates to employment; attract new industries to these areas while increasing economic independence and progress for the residents and businesses in the engagement area.
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"Teaching entrepreneurship in our community today to build the business and community leaders of tomorrow"
Lennie Chism, Founder
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