Business News & Updates
Show your support as we seek funds to continue our business support services
The Lake Street Council, in partnership with other Twin Cities organizations, is currently applying for a grant through the Minnesota Department of Employment and Economic Development (MN DEED) to support our day-to-day business support work. This includes the free business technical support and advising services we provide to all businesses on Lake Street, as well as more specialized support such as predevelopment and acquisition for those looking to rebuild or purchase a property.
Lyndale Open House
Whoever you are and however you use Lyndale Avenue, now is the perfect time to tell Hennepin County what you think.
To learn more about what Hennepin County is seeking and the timeline for gathering input, you can visit the Lyndale Avenue South reconstruction page on Be Heard Hennepin.
GroundBreak Coalition with Imagine Deliver!
The GroundBreak Coalition, in collaboration with Imagine Deliver, a local woman and BIPOC-led consulting firm, would like to invite you to a community meal and information-gathering session.
GroundBreak Coalition is a group of corporate, civic, philanthropic, and community leaders committed to closing racial wealth gaps in Minnesota. To do this, GroundBreak has made the intentional decision to build solutions with an explicit commitment to building Black wealth. If we can do this, we know we can build wealth for every community in our region.
CEO Now Cohort
CEO Now is a new cohort offered through Hennepin County. The program offers cohort-based executive education to help established, growth-minded business owners and founders with employees build and strengthen systems to keep growing. They are currently recruiting for the next cohort set to begin in October.
Brownfield Funding for Livable Communities
Working with the state of Minnesota and counties, the Metropolitan Council has set up some grant information sessions that may be of interest to Lake Street businesses looking to renovate or redevelop the property, especially those working with the Commercial Real Estate Gap & Acquisition Financing program. The grants might work for new housing or business coop sites too.
MPD Community Engagement Session
The Minneapolis Police Department is hosting a community engagement session to get feedback on the future of the department. The session will be held on Saturday, August 19th from 1:00-3:00 pm at Urban Ventures (2924 4th Ave S), 3rd floor Multipurpose Room.
Emerging Entrepreneur Loan Program
The Minnesota Emerging Entrepreneur Loan Program (ELP) supports the growth of businesses owned and operated by minorities, low-income persons, women, veterans and/or persons with disabilities. DEED provides grant funds to a network of nonprofit lenders which use these funds for loans to startup and expanding businesses throughout the state.
Angel Tax Credit
Minnesota's Angel Tax Credit provides a 25% credit to investors or investment funds that make equity investments in startup companies focused on high technology, new proprietary technology, or a new proprietary product, process or service in specified fields. The maximum credit is $125,000 per person, per year ($250,000 if filing jointly). The credit is refundable. Residents of other states and foreign countries are eligible.
Minimum Wage Raised to $14.50 on July 1st
At smaller employers - with 100 or fewer employees - in Minneapolis, the minimum wage went up on July 1, 2023 to $14.50.
Buildings Upgrade Prize Sign-On Letter
The Lake Street Council, in partnership with several other Twin Cities organizations, is currently applying for a grant from the US Department of Energy called the Buildings Upgrade Prize.
If awarded, this grant would put us on the path towards helping small business owners in upgrading building infrastructure and equipment that would reduce energy bills and stabilize operating costs. You can help us secure this funding by signing on to a letter of support.