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Latino Economic Development Centers Greater MN Latino Economic Development Initiative

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Partners in the Twin Cities Contributing to this Program: ... Twin Cities LISC. Metropolitan State University St. Paul Campus ... – PowerPoint PPT presentation

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Title: Latino Economic Development Centers Greater MN Latino Economic Development Initiative


1
Latino Economic Development Centers Greater MN
Latino Economic Development Initiative
  • Helping Latino immigrants to integrate into the
    economic system, creating wealth, and building a
    socially responsible Latino business community

2
Current Organization Members of this Initiative
  • Latino Economic Development Center (LEDC)
  • Metropolitan Economic Development Association
    (MEDA)
  • MN Initiative foundations
  • MN SBDCs
  • Greater MN CDCs
  • WAMM group (Willmar), Welcome center (Austin),
    and other community groups

3
Latino Economic Development Center (LEDC)
  • LEDCs mission is To transform our community by
    creating economic opportunities for Latinos
    throughout the State of Minnesota
  • LEDCs vision is A thriving multicultural
    community, enriched by Latino leadership, culture
    and economic influence

4
Initiative Foundations and Small Business
Development Centers
  • Each organization/entity play a significant role
    at creating wealth in rural MN
  • Each organization/entity have established
    programs to help individuals to achieve their
    dreams of self sufficiency
  • Each organization/entity have established
    connections and service networks that can be
    accessed to engage Latinos to build wealth and
    serve communities and the community as a whole

5
Local CDCs or Community Groups
  • Play a significant role in the development of
    their community
  • Are known and trusted by their constituencies
  • Face the challenge of how to effectively deliver
    their services to Latino immigrant communities
  • Can build their capacity to deliver services to
    new immigrant communities

6
Needs and Opportunities in Greater MN
  • We need to encourage entrepreneurial activity in
    rural Minnesota among new immigrants
  • We need to establish effective ways to engage,
    inform, educate and assist aspiring immigrant
    entrepreneurs
  • We need to invest on establishing the foundation
    of an inclusive wealthy and healthy community in
    rural MN

7
The Opportunity
  • Immigrants have a strong determination to succeed
  • Immigrants are risk takers
  • Immigrants are quick learners
  • Immigrants know their own community best
  • Immigrants face unique challenges that prevent
    them from using their talents and skills in full
    force
  • We can help them overcome them in order to build
    a self-sufficient and vibrant Latino community
  • Existing resources can be used towards creating
    new businesses and helping the existing ones to
    move into the types of businesses in
    industries that will provide a larger economic
    impact, in terms of job creation and income
    growth.

8
Greater MN Latino Economic Development
Initiatives Vision
  • A vibrant socially responsible Latino business
    community that represents all industries and
    makes a dramatic impact on the Minnesota economy.

9
The Greater MN Latino Economic Development
Initiatives solution
  • All of the partners involved with this initiative
    can play distinctive roles in creating this
    community of Latino-owned businesses.
  • Establish connections and service networks to
    engage Latinos and serve communities

10
LEDCs commitment
  • Identify Latino communities and or businesses
    that can benefit from an asset based community
    development initiative
  • Train Latino individuals as community organizers,
    business consultants and technical assistance
    providers
  • Facilitate Economic Forums
  • Encourage trust and engage potential
    entrepreneurs
  • Market all training programs, and partner
    organizations programs
  • Provide micro-entrepreneur training

11
Resources Re-orientation
  • Design, create and or adapt culturally competent
    financial best practices curriculums where
    needed
  • Conduct customized culturally designed training
    sessions
  • Provide marketing materials in Spanish
  • Provide technical assistance to start-ups and
    existing businesses in their own languaje
  • Provide access to loan packaging services and
    financing resources accompanied by additional
    technical assistance

12
Local Partners
  • Hire and manage community organizers to promote,
    serve as a link and deliver services of all
    partner organizations, and individually mentor
    them to become business consultants and TA
    providers on a long term basis
  • Identify and assess the needs of aspiring Latino
    entrepreneurs and business communities
  • Promote, encourage and build trust and engage
    potential entrepreneurs
  • Assist in securing training and meeting venues
  • Market all training programs and technical
    assistance services

13
We request commitments from other partners of the
Greater MN Latino Economic Development Initiative
  • To identify, and help to secure sources of
    funding
  • To commit funding support to specific programs
  • To cooperate on all levels
  • To identify other partners also interested on
    contributing to the initiative
  • To share and promote what has proven to be
    effective
  • To identify and commit to improve what has proven
    not to be effective

14
Geographic area where LEDC has been working since
its inception
  • Selected small towns and cities with significant
    Latino population included in a imaginary
    triangle from Alexandria to Worthington to
    Austin, including the Willmar area, as well as
    the Twin Cities metropolitan area.

15
Greater MN Latino Economic Development Initiative
16
Training the trainer program(on the ground) 2007
  • WAMM group (Roberto Valdez)
  • SBDC/SWMNF (Gustavo Estrada)
  • Welcome Center/SMIF
  • (Maria Sosa)
  • LEDC staff (Greater MN program manager and
    microentrepreneur trainer, and special projects
    director)

17
Partners in the Twin Cities Contributing to this
Program
  • Minneapolis Consortium of Community Developers
    (Loan Officers)
  • Twin Cities LISC
  • Metropolitan State University St. Paul Campus
  • LEDC staff (Community Organizer, Business
    Consultants, and Financial Literacy Specialist)

18
Intended Outcomes
  • New businesses and jobs are created
  • New opportunities/business growth
  • New connections/network
  • New Latino leaders
  • Stronger/healthier existing Latino businesses
  • New and existing businesses opportunities to
    participate in industries they have not
    traditionally entered
  • Sustainable community resources
  • Creation of a business community that respond to
    the needs of their community

19
Ultimate Goal
  • A healthy and wealthy community of New Americans
    committed to the
  • social and economic well being of the State of
    Minnesota
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