The student news site of Marquette University

Marquette Wire

The student news site of Marquette University

Marquette Wire

The student news site of Marquette University

Marquette Wire

Milwaukee to receive business development grant

The Department of Commerce has approved nearly $1 million for business development statewide, including housing for low-income families in the Milwaukee area.

A total of $739,000 of the nearly $1 million will go to 24 community-based, statewide organizations — including six in Milwaukee — it was announced Thursday. These organizations were chosen because in studies conducted by the Department of Commerce they showed potential to revitalize their business communities.

According to Tony Hozeny, spokesman for the Department of Commerce, the 24 organizations that will receive money from the state have been evaluated with feasibility studies to determine how money should be allotted. The money was approved by the state legislature for the Department of Commerce to grant. The organizations spend the money first and then are reimbursed by the state.

Most of the recipients are business incubators, which are facilities that support beginning businesses, Hozeny said.

"A business incubator is a large building that has one- or two-person businesses in it that share technical support and receive training at the facility," he said. "The goal is to build up the business at the incubator then go out and start your business elsewhere."

According to Hozeny, Wisconsin is the number one state for business incubators.

The Wisconsin Women's Business Initiative Corporation, based in Milwaukee, received $100,000, the highest allotment to business-focused initiatives.

According to Wendy Baumann, president of the WWBIC, the money they received will go toward work throughout the state.

The organization focuses on aiding women, racial minorities and people with lower incomes, she said.

The Milwaukee area is the site for 200 of the 350 business education classes the organization offers each year in Wisconsin.

"The main priorities of our organization are to provide business education, help our clients find access to capital and develop a sense of financial awareness," Baumann said. "We help our clients develop financial awareness working on a savings plan, or find ways for them to get rid of their debt."

The Center for Teaching Entrepreneurship, a Milwaukee-based organization, is using the $24,000 it will receive from the Department of Commerce to continue offering classes that introduce youth to economic principles and entrepreneurship.

According to ReDonna Rogers, founder of CTE, their motto is, "Your life is your business and your business can be your life."

"We all are CEOs of 'Me Incorporated,' " she said.

The organization offers a class titled "I Can Be My Own Boss," where young people learn entrepreneurial thinking and what it takes to start a business.

The organization's goal is to find three to five young people annually who have an idea for a business or who have some form of business already started and help them realize their goals.

"Annually, we serve about 800 students, and somewhere in there will be three to five who have business ideas and the entrepreneurial spirit to see it through," Rogers said.

The organization is open to all people ages 10-22.

The Department of Commerce gave $200,000 of the $1 million to Wisconsin Fresh Start, which works with high-risk, low-income youth to provide them with training and employment skills, while renovating or building single-family homes for low-income, first-time homebuyers.

According to Kate Venne, spokeswoman for the Wisconsin Housing and Economic Development Authority, Wisconsin Fresh Start received a $200,000 revolving loan. The organization is splitting the loan between two Milwaukee-area organizations, with half going to Northcott Neighborhood House and the other half going to the Dr. Howard Fuller Education Foundation.

"The money will pay the salaries of the workers and material costs for building two homes," Venne said.

The Northcott Neighborhood House has built one home and has a second in progress. The Dr. Howard Fuller Education Foundation has completed two homes and is building two more, all in Milwaukee.

The homes are built by youth who have troubled pasts.

"These kids have gone to jail, but when they get into our program, they straighten out and some go on (to) college and lead productive lives," Venne said.

Wisconsin Fresh Start is supported by the Department of Commerce as well as the Department of Corrections.

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