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State Launching Initiative Aimed At Helping Minority Entrepreneurs

(CBS) -- The state is launching a new initiative this spring,at little taxpayer cost, to create more opportunities for minority entrepreneurs starting in three cities, reports WBBM's Mike Krauser.

Governor Bruce Rauner says things are pretty bleak for minority entrepreneurs so he is creating something called ADME, or Advancing the Development of Minority Entrepreneurship.

"We want to be a one stop shop where an entrepreneur can come and get the introductions for financing, for mentorships, for training, for board members, for support," he said.

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Entrepreneur Jimmy Odom of the Illinois Department of Commerce and Economic Opportunity is leading the effort.

"It's an incubation and education program specifically curated for minority entrepreneurs engineered to develop an ecosystem, a community surrounding the entrepreneurs and their organizations," said Odom.

It starts in the spring in Chicago, Rockford and Peoria with volunteer entrepreneurs doing much of the heavy lifting.

CBS 2's Jim Williams was in Bronzeville, where one businessman's vision is already taking shape.

Starting with chicken and pork at the Bronzeville Jerk Shack and the garden above the restaurant, Bernard Loyd is creating what he calls a culinary district along 51st Street near the CTA's Green Line.

Loyd describes himself as a social entrepreneur and though he had a business background before taking on the Bronzeville Project, he understands the challenges of starting a business, especially in depressed areas.

"It's so difficult to bring together the resources to develop enterprises in these communities," Loyd.

He believes a business can transform a neighborhood.

"The effort here is to create community around food," he said.

Loyd hopes to finish the first phase of the Bronzeville Project in 18 months.

For more information, visit www.illinois.gov/dceo or visit the department's Facebook and Twitter pages.

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