U.S. Secretary of Commerce Wilbur Ross announced yesterday that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to the Red Lake Band of Chippewa Indians to construct the tribe’s Adaawe-Wigamig Business Center.
“The Trump Administration is committed to boosting entrepreneurship efforts and small business ownership in Native American communities,” said Secretary Ross.
“This project will provide the Red Lake Band of Chippewa Indians with the resources to create jobs and build economic resiliency, and the project’s location in an Opportunity Zone will attract additional investment.”
“The Economic Development Administration is pleased to support the Red Lake Reservation’s efforts to help its business community thrive,” said Dana Gartzke, Performing the Delegated Duties of the Assistant Secretary of Commerce for Economic Development.
“This project will spur economic growth on the reservation and throughout Northwest Minnesota, and its location in an Opportunity Zone provides additional incentive for business investment.”
The EDA grant, to be located in a Tax Cuts and Jobs Act Opportunity Zone, will be matched with $214,789 in local funds and is expected to create 217 jobs, retain 87 jobs, and generate $7.2 million in private investment.
These opportunity zones were created by President Trump in 2017 to “spur economic development economically-distressed communities nationwide.” Minnesota has 128 opportunity zones.