Although the Latino Economic Development Center was incorporated in 2003, it is not a new organization. LEDC is the continuation and expansion of work begun in 1994.
A small group of Latino immigrants formed a Latino congregation, Sagrado Corazón de Jesus (Sacred Heart of Jesus), in south Minneapolis. The new congregation immediately took on a social justice as well as a spiritual dimension. Recent Mexican immigrants worked in teams on educational, legal, economic, and other barriers to their full participation and success. They realized that economic progress had to be their first imperative.
With assistance from several local business development organizations LEDC honed its technical and leadership skills and began a project that is now the Cooperative Mercado Central. Today, Mercado Central is a thriving marketplace of 45 businesses at the corner of Lake Street and Bloomington Avenue in Minneapolis. Based on that model of fostering business development, the same group expanded its mission and created LEDC. More recently, LEDC and its partners sparked the creation of Plaza Latina, a marketplace on Payne Avenue in St. Paul.
These entrepreneurs won the respect not only of Community organizations along Lake Street and on the eastside of St. Paul, but also the support of city leaders, news media, and national foundations. City leaders regard the growing Latino population as a resource for community revitalization, rather than a burden. LEDC is actively involved in revitalizing the Lake Street commercial corridor and its adjoining neighborhoods. Payne-Lake Community Partners, an initiative created by national foundations and led locally by The McKnight Foundation strives to accelerate investment and the revitalization of the Lake Street and Payne Avenue corridor areas and counts LEDC among its key partners.
LEDC's CORE FUCTIONS
-To establish, stabilize, and grow businesses through orientations, classes, business development consulting, technical assistance, and access to capital for new and existing entrepreneurs.
-To revitalize or develop community "public markets" and commercial corridors in the Twin Cities and rural Minnesota that appropriately allow for Latino community business participation.
-To create an LEDC membership, a process and structure through which the Latino business community may access other institutions (such as banks, foundations, and elected officials) and actively shape the agenda of LEDC.
LEDC VALUES
-Promote just, sustainable, and ethical business practices, healthy work environments, social responsibility, and economic justice.
-Develop Latino talent, leadership, civic engagement and political influence.
-Affirm and reflect the strengths of Latino culture and language.
-Nurture free enterprise and the entrepreneurial spirit of our community.
-Listen to and act in the best interests of our membership; contribute our wisdom and experience for the wellbeing of all members.
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