DETROIT (AP) — The Knight Foundation has awarded a $2.5 million grant to the Detroit Development Fund in an effort to help boost the city’s business economy.
Officials with the foundation say the grant will support stage retail and creative businesses in Detroit, as well as advance the fund’s mission to revitalize the city’s economically distressed areas.
They said it also will focus on minority and female entrepreneurs.
The Detroit News reports that the $2.5 million initially was given to the Detroit Development Fund as a low-interest loan.
The Knight Foundation’s program director for Detroit says the conversion to a grant will allow the fund to attract more capital and expand its activities.
The Knight Foundation has pledged more than $80 million to Detroit since 2008.
- Posted October 26, 2015
- Tweet This | Share on Facebook
Development Fund receives $2.5M grant for businesses
headlines Macomb
- Macomb County judge honored
- Mount Clemens woman pleads no contest to charge stemming from threats sent to Mount Clemens mayor
- MDHHS seeks applications for Rural Health Transformation Program Workforce for Wellness Initiative
- Prosecutor warns of fake jail bond scam targeting families
- Governor welcomes new unemployment protections for survivors of domestic violence
headlines National
- Chemerinsky: Supreme Court leaves many Second Amendment issues unresolved
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- After emergencies mar bar exam, New York State Bar Association aims to add new procedures
- When you get blasted by your own canon
- Ex-lawyer seeks bar reinstatement after US House primary win
- Trump selects newly confirmed federal judge for open seat on 5th Circuit
