MADISON, Wis. — Madison Mayor Satya Rhodes-Conway on Friday toured some native companies that obtained metropolis help in getting themselves established.
Rhodes-Conway visited JP Hair Design and KnitCircus Yarn, each of that are positioned within the 500 block of Grand Canyon Drive on town’s west facet.
The Commercial Ownership Assistance Program establishes a forgivable mortgage fund to assist Madison enterprise house owners transition from renting to proudly owning industrial property. This system focuses sources towards communities which have traditionally confronted limitations to purchasing industrial property, together with communities of colour, immigrant communities, ladies and veterans.
It can additionally prioritize help for companies in underinvested elements of town.
Rhodes-Conway stated this system is an effective first step to assist stop displacement, particularly in neighborhoods vulnerable to gentrification.
“One of many objectives of this program is for us to construct wealth in our group and to help not solely native companies, however companies which can be owned by folks of colour, which can be owned by ladies, which can be owned by veterans, and we might be profitable in that if construct that ecosystem round these companies,” she stated.
Whereas folks of colour characterize roughly 27% of Madison’s inhabitants, solely 3% to 9% are enterprise house owners.
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