Racial equity funds spurred by murder of George Floyd bear fruit

After the police murder of George Floyd and the racial uprising that followed, private foundations and corporations pledged millions to spur economic development in communities of color and rebuild Lake Street in an equitable way.

This year, about $100 million’s worth of project tied to those initiatives will open or break ground, according to Star Tribune reporter Dee DePass, who adds that they’ll fuel thousands of good-paying jobs.

“There’s some exciting stuff in terms of job creation,” DePass told All Things Considered host Tom Crann. “There’s a fella who’s a former NBA player by the name of Devean George, and he’s actually building a modular housing factory over in Minneapolis and that is going to have 350 factory jobs. He’s also involved in two affordable housing projects, and one of them is going to generate 700 jobs, so that’s an exciting one.”

Whether these kinds of investments in economic equity will continue remains to be seen, DePass said; some funders have not renewed their grants while others have made financial pledges through 2030.

To hear more, click play on the audio player above. And to learn more about individual projects, read DePass’ reporting.

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