Due to decades of disinvestment, North Minneapolis has not benefited from the prosperity of the rest of the region. In 2016, Itasca convened a business-community partnership to identify ways to create jobs and spur economic development to benefit North Minneapolis residents. In 2018, in part due to that work in north Minneapolis, the Center for Economic Inclusion was launched as the nation’s first organization dedicated exclusively to advancing inclusive growth to achieve regional prosperity. The Center is a cross-sector organization committed to strengthening the Minneapolis-St. Paul region’s civic infrastructure and collective capacity to disrupt systems and influence market forces to catalyze shared prosperity and an inclusive economy.
Additionally, in 2020, our participants hope to launch the Northside Mezzanine Fund which looks to provide a below-market rate gap financing option for game-changing commercial real estate projects. The fund is designed for small-to-medium size developers who are dedicated to improving economic vibrancy in north Minneapolis.