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Wayne County pulls $32 million commitment for new small business fund

Wafa Dinaro is Executive Director of the New Economy Initiative, a philanthropic and special project of the Southeastern Michigan Community Foundation.

Wayne County has raised all of the $32 million it pledged for a fund aimed at supporting small businesses in communities in southeastern Michigan, project partners said Tuesday.

Wafadinaro, executive director of the New Economy Initiative, a charity that supports entrepreneurship and a project of the Southeastern Michigan Community Foundation, issued notice that Wayne County is canceling the partnership and all funding to Wayne County. received on October 24th. Small Business Hub His funds were supposed to support his owners of his small businesses in cities such as Inkster, River His Rouge, Ecorus and Romulus.

The partnership was announced by Dinaro and Wayne County Chief Executive Warren Evans at the Mackinac Policy Conference of the Detroit Area Chamber of Commerce in June. The fund started as a $54 million investment and included matching from multiple private his partners. It has now reached $22 million.

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