This historic building is located in the Camden-Webber neighborhood, right on the corner of 42nd and Lyndale Avenue North. In the heart of North Minneapolis. A place where others focus on a community struggling with gun violence... a leftover space from the unrest, after the murder of George Floyd.... or an area with overwhelming disparities. We choose to instead focus on our artistic genius, resilient families and constant new project developments. We choose to build a BLACK business ecosystem.
So, what is a business ecosystem?
A business ecosystem comprises of 5 essential elements:
So, why a BLACK business ecosystem?
A study by the Selig Center for Economic Growth found that money circulates one time in the African American community, six times in the Latino community, and nine times in the Asian community. In white neighborhoods, money circulates nearly an unlimited number of times.
Another study, says that the average lifespan of the dollar is approximately 28 days in Asian communities, 19 days in Jewish communities, 17 days in white communities — and just six hours in Black communities.
Buying Black is one of the simplest ways to continue that circulation, yet it can be a struggle to live completely Black without designated spaces and areas that house and support small black businesses....
Imagine being in a space where your dollar could exchange hands more than 15x before leaving the black community.
African-Americans have 1.3 trillion dollars in total buying power. To put it into context, that's nearly the equivalent of the Netherlands, Indonesia, and Switzerland's gross domestic products. To put it simply, the black buyer can stimulate the economy of countries.
In 2020, African American economic clout energized the U.S. consumer market as never before. The buying power of African Americans rose to $1.6 trillion, or 9% of the nation's total buying power.
We've always had the buying power, we just needed a space to make it and spend it.
The Northside Epicenter is that place!