GRAND RAPIDS, Mich. — The City of Grand Rapids is making a historic investment in minority-owned businesses.
The city has set aside $100,000 for the New Community Transformation Investment Fund. The fund aims to boost economic prosperity for businesses owned by people of color and build a more diverse economy.
The Steelcase Foundation and I-T-C Holdings are also investing money--- 500-thousand dollars each.
Since its inception in 2020 the fund has raised more than 11 million dollars.
So far, the fund has invested some of that money in four companies including BAMF which uses advanced technology to treat cancer.
New Community Transformation Fund invests in current businesses like BAMF as well as and prospective businesses it hopes to lure to the region.
Organizations interested in applying for money can go to the fund's website newcommunityfund.com.
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