TechTown’s SWOT Receives $800,000 For Detroit’s Neighborhood BusinessesBy Amanda Lewan on October 3rd, 2013 /
More help is one its way to Detroit’s neighborhoods, for entrepreneurs that is.
Last year TechTown launched a special entrepreneurial program called SWOT in partnership with Detroit’s Brightmoore Alliance, bringing business services to the Brightmoore neighborhood. In one year the program created 8.5 new jobs, retained 81 jobs, and launched two new business with 12 more in the pipeline.
SWOT has now received an $800,000 grant from the U.S. Department of Health and Human Services for Community Economic Development, allowing the program to expand into three new neighborhoods: East Jefferson Corridor, Grandmont Rosedale, and Osborn.
What does the SWOT program do? It provides business assistance, technical assistance, and training for business owners, residents and stakeholders in the local neighborhoods. The $800,000 grant is estimated to provide 40 new jobs to the area, matching the skills and geographic location of low-income residents of the neighborhoods.
More importantly, the program helps create sustainable businesses the employ local residents. This is what Detroit needs to help spur business growth in those large and challenged neighborhoods. Check out the video on their program below.
With activity frequently happening Downtown or in Midtown, this entrepreneurial program encourages growth in the neighborhoods that suffer from blight and economic distress. TechTown says their employees will be very engrained within the communities they serve.
“We have a deep legacy with place-based programs, and our SWOT City program was developed from thinking ‘What about everybody else?'” said Leslie Smith, President and CEO of TechTown. “This grant allows us to expand our program into three new full-scale engagements, and we are delighted.”
TechTown works with tech, retail, and other businesses. The SWOT program helps those with already established businesses in the neighborhoods grow and learn how to successfully sustain their business growth.
Read more about TechTown’s programs.