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PVPC proposes $10 million community equity fund to help minority- and women-owned firms meet MGM procurement goals
Summary
The Pioneer Valley Planning Commission told the Gaming Commission its grant-funded gap analysis found minority- and women-owned firms are underrepresented in MGM Springfield procurement; PVPC proposed a $10 million, 10-year closed community-based equity fund and a capital-absorption study to test feasibility.
The Pioneer Valley Planning Commission told the Massachusetts Gaming Commission it plans to pivot a Community Mitigation Fund-funded project toward creating a community-based equity fund aimed at increasing access to capital for minority- and women-owned micro and small businesses.
PVPC senior fellow Vanessa Otero summarized a gap analysis PVPC conducted after receiving an August 2023 grant of approximately $485,000 through the Community Mitigation Fund and related EDA support. The analysis found that MGM Springfield has not yet met a…
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