In 2015, the Foundation made an inaugural grant in the Economic & Workforce field-of-interest. Recent reporting has shown the important impact this grant has made for Spanish-speaking entrepreneurs in the South Valley.
Within the 12-month grant period, SVEDC gained 68 new clients and hit its maximum business incubator capacity.
Of the new clients:
- 54% identify as Hispanic or Latino;
- 29% are monolingual Spanish-speaking or consider Spanish their first language;
- 23% have a household income less than $20,000/year, and 29% with an income between $20,001 - $24,999 and 5% with a household income over $100,000; and
- 57% are women, 5% are veterans, and 13% identify as having disabilities.
This month it was announced that SVEDC was awarded a three-year $350,000 grant from the WK Kellogg Foundation to support their virtual-incubator work.
"We envision being a continued trusted community hub where new and existing grass root entrepreneurs can find all the necessary resources to create assets for their families and where they can collaborate and inspire others to revitalize our economy."
- Josue Olivares
Executive Director, SVEDC