Baltimore Development Corporation
For Baltimore to both attract Opportunity Zone investments and ensure such investments benefit community residents and businesses, the Opportunity Zone Coordinator provides a valuable resource and competitive advantage to connect Opportunity Zone investors with projects and to connect projects to critical financing. Baltimore has been nationally recognized as one of the first cities to have a designated point person for the Opportunity Zone program. The grant covers the second year of the Coordinator’s salary.
Baltimore Development Corporation
Baltimore is one of five US cities participating in the International Urban Cooperation City-to-City program, a global initiative funded by the European Union. This program is a component of a long-term EU strategy to foster sustainable urban development in cooperation with the public and private sectors. Baltimore has been paired with Turin, Italy, and the two cities will meet to advance discussions in four areas of mutual concern. Funding from Abell will support travel expenses associated with the Baltimore delegation’s fall 2019 trip to Turin.
Latino Economic Development Center
Latino Economic Development Center offers access to business resources and capital to meet the needs of underserved communities and communities of color in Baltimore. Their small business coaches provide one-on-one technical assistance and workshops/courses related to business planning, financial management, incorporation, licensing and permitting, accounting, marketing, and technology integration. Lending staff are trained to provide micro-loans ranging from $500 to $50,000 and larger loans up to $250,000.
Southeast Community Development Corporation
SECDC will consult with the CASH Campaign of Maryland (CASH) for their expertise to provide training and technical assistance to the organization’s housing counseling team. CASH will conduct an analysis of current practices and staff capacity in the area of financial capability. They intend to develop a financial coaching program that is integrated into SECDC’s homeownership counseling service delivery and will train staff in financial coaching techniques to comprehensively serve Baltimore City households, particularly among low income communities of color.
Venture for America
Venture for America strengthens entrepreneurship, business formation, and economic growth by attracting top talent students to work in start-up and early-stage companies. Since 2013, VFA has placed 110 Fellows in Baltimore City for two-year fellowships with more than 50 high-growth companies and startups, and they have supported the launch of nine Fellow-founded companies. Of 15 participating cities, Baltimore is the second largest program and boasts the highest post-Fellowship retention rate.