Dane County Executive Joe Parisi is proposing to put $2 million toward helping the Urban League of Greater Madison purchase a site for an economic development hub that will be located along the South Park Street corridor.
The hub, modeled after the Sherman Phoenix project in Milwaukee, will be dedicated to supporting minority-owned businesses and provide commercial space, Parisi said at a Tuesday news conference, as well as support for small businesses.
“We are excited to partner with the Urban League of Greater Madison in this effort to find a location where Dane County entrepreneurs can gather to gain the support, experience, and skills they need to thrive,” Parisi said. “My 2021 budget invests in this effort to give entrepreneurs of color in Dane County a place to find community as they work to achieve their goals.”
Urban League of Greater Madison CEO Ruben Anthony said the organization will use the money for land acquisition and to get the property ready.
No site has yet been determined for what Anthony called the “South Madison Black Business Hub,” but he expects that a location will be determined by the end of 2020.
“This space is envisioned as a hub for business owners, entrepreneurs and business support services that can reflect the diversity of residents, businesses and institutions that call south Madison home,” Anthony said. “We’ll look at numerous sites in south Madison and we’re gonna do it with the community right there with us.”