CINCINNATI (AP) — An effort to invest and support minority businesses in the Cincinnati area is getting a boost.
The Cincinnati USA Regional Chamber says a fund with a $5 million target has been set up for the 10th anniversary of its Minority Business Accelerator.
The fund is meant to provide regional black- and Hispanic-owned businesses with better access to capital. It’s being named for the late entrepreneur and community leader Ross Love.
Investment dollars will come from the Greater Cincinnati Foundation, the regional chamber and others.
An annual report released Thursday says the accelerator has created 1,800 jobs since its inception in 2003.
The initiative came in the aftermath of Cincinnati’s 2001 race riots as city and community leaders moved to improve racial tensions and minority opportunities.