The United States Department of Agriculture granted the Region Five Development Commission a $52,000 Rural Business Development Grant to add value and elevate their previous work in the space of securities crowdfunding with a community crowdfunding "portal."
Region 5 will work directly with and promote up to three regional small to medium enterprises to create customized community crowdfunding offerings, a news release from the group said. The anticipated development, expansion or furtherance of business enterprises as a result of this project will create and support existing jobs associated with the affected businesses.
The release said community crowdfunding will also engage new investors, specifically the millennials who are interested in supporting local investment through community crowdfunding. Younger generations are not giving in the same way as past generations, with plans of leaving large sums of money to national organizations and causes. They are donating in small amounts to support the things that matter to them, like local foods, breweries and other opportunities that improve their quality of life, the release said. Community crowdfunding can be used as a stepping stone into investment crowdfunding, as new investors are introduced to a philanthropic way of investing in community.
For more information, please contact Dawn Espe at Region Five Development Commission at 218-894-3233.
