Minneapolis leaders, Frey announce $11M investment in small businesses

Leaders from Minneapolis are gathered on Thursday afternoon to announce a multi-million dollar investment in local business owners.

Minneapolis Mayor Jacob Frey was joined by City Council President Andrea Jenkins, Councilmember Jeremiah Ellison, a local business owner, and others to announce the $11.2 million investment through the Ownership and Opportunity Fund (formally known as the Commerical Property and Development Fund).

The city says the Ownership and Opportunity Fund has awarded 22 local business owners in Minneapolis since it was created by Frey in 2020. The goal of the fund is to support generational wealth and focus on economically challenged areas, according to a press release from Minneapolis officials.

Frey directed an additional $3 million to the fund in 2024, to be awarded to Sawa Properties (Milkjam) on Lyndale Avenue South, the Coliseum on Lake Street East, Minute Man Press on Washington Avenue North, and Jesse Ross on 2nd Avenue North.

For more background information on program eligibility, CLICK HERE.