Indian business group receives $1 million grant
Published November 1, 2000 | November 2000 issue
The U.S. Department of Commerce awarded a $1 million Economic Development Administration (EDA) grant to the American Indian Business Development Corporation (AIBDC) for the revitalization of Minneapolis's economically distressed Phillips neighborhood.
The grant will be used to construct a multipurpose business incubator facility and make neighborhood lighting and landscaping improvements, according to Congressman Martin Olav Sabo (D-Minn.), who is an AIBDC supporter. The AIBDC works to improve economic conditions and stimulate business development in Phillips, which suffers from high unemployment and extremely low per capita income.
The grant was awarded through the EDA's Public Works and Development Facilities Grant Program, which encourages new industry, business expansion, economic diversification and job creation in communities threatened by low per capita income and high unemployment.