The U.S. Commerce Department is pledging $1.6 million to help the Hispanic Economic Development Corporation of Kansas City create a new business incubator.
The facility will operate in an existing industrial building that must be remodeled. The incubator will encompass 13,000 square feet and include a commercial kitchen, conference rooms and coworking space. Plus, clients will be able to access business assistance services. Officials say the incubator could create 90 jobs.
“The Trump Administration is focused on developing new opportunities for Americans across the country in their local communities,” Commerce Secretary Wilbur Ross said. “Through this project, Hispanic Economic Development Corporation will help drive new job growth as well as provide a boon to potential small businesses throughout Kansas City.”
The grant will come from Commerce’s Economic Development Administration, which invests in economically distressed communities. The Mid-America Regional Council played a key role in bringing the project to life.
The Hispanic Economic Development Corporation already provides a wide range of services to small businesses, including training and microloans through its Impacto Fund.