Page 4 - BusinessWest October 17, 2022

4 OCTOBER 17, 2022 FEATURE BusinessWest
Making Progress
Latino Economic Development Council Wants to Transform Employees into Employers
Executive Director Andrew Melendez
The Latino Economic Development Council recently opened the doors to its new facility on Fort Street in Springfield. More importantly, it is off to a fast and impactful start as it works to open doors — and keep them open — for business owners and entrepreneurs, especially those in the large, and growing, Latino business community. It will offer microgrants and facilities for meetings and co-working opportunities, but most importantly, it will provide much-needed coaching in subjects ranging from finance to human resources to mental wellness.
BAy George O’Brien
ndrew Melendez says he’s led a number of tours of the new Latino Economic Development Council headquarters facility on Fort Street in Springfield. More than he can count, actu- ally.
He said the comments from those taking those tours vary, but there is a common, and very important, theme. Most say they’ve
never seen anything quite like it — but wish they had.
Indeed, the Latino EDC, or LEDC, as it’s called, an affiliate of Partners for Com-
munity, is different. It is not a chamber of commerce, although it has some of those qualities and it partners with those institutions. It’s not an incubator, but it has some of those qualities, and it partners with those critical components of the entrepreneurship ecosystem as well.
It is a place where more than two dozen coaches, experts in many aspects of business, will make themselves available to business owners — especially those within the large and growing Latino business community, looking to take the next step with their venture, whatever that might be — and share what they know.
The council will also provide microgrants of a few thousand dollars or even less to assist with startup costs, while also providing co-working space and facili- ties — the PeoplesBank Business Lounge — that the business community can use for meetings and teleconferences.
In short, what the LEDC wants to do is convert employees into employers, spark the growth and development of new businesses, and change the landscape on Main Street — and many other streets — in area communities, said Melendez, director of Operations for the LEDC.
It will do this not necessarily with microgrants — although they can certainly help a microbusiness or startup buy a sign, secure a new piece of equipment, or