SPEDCO Economic Development Foundation

The SPEDCO Economic Development Foundation was founded in 2006. Its mission is to promote economic development across SPEDCO’s service territory of Minnesota and western Wisconsin.

All activities of the SPEDCO Foundation support SPEDCO’s mission to promote economic development within the small business community and to create job growth. The Foundation primarily funds organizations that demonstrate a commitment to the creation of jobs. Recent grant recipients include:

Bricklayer Career Pathway Pilot Program is to develop a program model and training curriculum that successfully prepares low-skilled, unemployed or underemployed workers to attain good jobs with family-supporting wages in this in-demand career pathway. The initial program will train 15 individuals.

Go Service, a credentialed hospitality training program, provides low-income adults with a 10-week, 90-hour training program training focused on the service industry, including hotels, call centers, business front office and administration centers, and medical facilities/information centers. Go Service instructors provide job placement assistance and all participants meet weekly with their coach to monitor progress and goals, as well as to identify needed support services.

NEON has been expanding economic opportunities in North Minneapolis through the creation, growth, and development of entrepreneurs and small businesses since 2006. They work strategically and collaboratively with ten network partner organizations to deliver small business feasibility assessments, entrepreneur training and outreach, and wide-ranging technical assistance and support. Since 2006, NEON has provided training and technical assistance to over 500 individuals and businesses, facilitated financing for 60+ businesses totaling over $2MM, and assisted more than 30 businesses to relocate or expand in North Minneapolis and throughout the metro area.

NDC works in the lowest income neighborhoods of the Twin Cities to empower aspiring entrepreneurs to start and grow their own businesses in order to rise from poverty, become self-sufficient, create jobs, and transform their neighborhood economies from within. NDC accomplishes this through four place-based, culturally-competent programs: 1) Entrepreneur Training, 2) Small Business Lending, 3) Technical Assistance, and 4) Business Incubators. These programs help to create visible entrepreneurship, local jobs, role models, wealth, and family and community gathering spaces.