Federal grant of $850,000 funds new Liberty City business hub

The Miami-Dade Chamber of Commerce has secured $850,000 in federal funding to open a new small business incubator in Liberty City. The money comes from the U.S. Department of Housing and Urban Development's Community Project Funding program. It will establish the Liberty Square Launchpad, a facility designed to support local entrepreneurs.

U.S. Rep. Frederica S. Wilson, a Democrat from Miami Gardens, obtained the grant for the chamber. Gordon Eric Knowles, the chamber's president and CEO, said the funding allows various partners to focus on a single goal. "Congresswoman Wilson has given us an extraordinary opportunity to bring government, business, education, and community partners together around one mission: creating economic opportunity," Knowles said.

The project follows a five-year plan that targets low- and moderate-income microenterprise owners. These are businesses with five or fewer employees, including the owner. The program will also serve individuals who are actively developing new ventures. Outreach will focus on entrepreneurs in Liberty Square, Liberty City, and District 5.

Participants will receive technical assistance at no cost. The Launchpad intends to help business owners formalize their operations and improve financial recordkeeping. It will also assist with drafting business plans. Matthew A. Pigatt, the chamber's senior director of small business and member services, said the investment supports the entire community. "When we help an entrepreneur strengthen their business, we’re investing in more than one company. We’re investing in families, future employees, and the economic strength of an entire community," Pigatt said.

Liberty City is home to approximately 50,000 residents. About 80% of the population is Black. If the neighborhood were a municipality, it would be the seventh-largest city in Miami-Dade County. A 2017 economic study by the University of Miami and Florida International University described the area as one of the county's poorest. The study found that 87% of Liberty City businesses employ fewer than 20 people. Despite this, all local businesses generated $12 billion in annual sales according to that report.

The chamber stated its vision is for the Launchpad to serve as a model for strategic investment in entrepreneurs. The program aims to build lasting community wealth by helping small businesses compete in the market. The Miami-Dade Chamber of Commerce maintains a website at www.m-dcc.org for further details.