Senator Markey and Senator Warren submitted the following Congressionally Directed Spending (CDS) federal funding requests to the Senate Appropriations Committee for important community projects in the Commonwealth of Massachusetts.
Under guidelines issued by the Senate Appropriations Committee, each Senator may request CDS funding for projects in their state for fiscal year 2023. However, only a small number of these proposals may actually receive federal funding. CDS requests are restricted to a limited number of federal funding streams, and only state and local governments and eligible non-profit entities are permitted to receive CDS funding. In compliance with Senate Rules and Senate Appropriations Committee requirements, Senator Markey has certified that he, his spouse, and immediate family have no financial interest in any of these submitted CDS requests.
FINANCIAL SERVICES AND GENERAL GOVERNMENT PROJECTS REQUESTED
(financial certification letter)
Project Name: Berkshire Black Economic Council Business Incubator
Amount Requested: $455,000
Intended Recipient and Address: Berkshire Black Economic Council, P.O. Box 461, Pittsfield, MA 01202
Location: Pittsfield, MA
Explanation of Request: The Berkshire Black Economic Council (BBEC) will improve and expand the quantity and quality of community economic development services in Berkshire County. The funding will be used for design and permitting, and planning. BBEC will complete a market feasibility study, design, and engineering to develop a business incubator responsive to the needs of Black-owned businesses and Black entrepreneurs. They will identify and evaluate shared resources and services, technical support, and business development functions, supporting equipment and infrastructure, construction/renovation and operation costs, and financing opportunities. BBEC’s incubator will provide affordable space and shared support services that address the unique challenges of Black-owned start-up and existing businesses and entrepreneurs.
Project Name: BOSS Program
Amount Requested: $1,000,000
Intended Recipient and Address: Black Economic Council of Massachusetts, One Beacon Street, Boston, MA 02108
Location: Boston, MA
Explanation of Request: We help stabilize a business’ infrastructure by delivering technical assistance and coaching in a highly curated manner. Many of our businesses are experts in the goods or services they provide, they require deep support in areas like accounting and legal assistance before they can scale. The Boss program is aligns the supports necessary for these businesses by taking an assessment of the businesses to then deliver the programs, products and services needed to allow their business to function more efficiently.
Project Name: Driving Equitable Outcomes in Business Growth Program
Amount Requested: $800,000
Intended Recipient and Address: MassChallenge, 10 Fan Pier Blvd, 3rd floor, Boston, MA
Location: Boston, MA
Explanation of Request: Female founders, founders of color, founders from outside typical venture hubs remain grossly overlooked and underfunded by the typical entrepreneurial and venture ecosystem. At the extreme, black female founders receive less than 1% of venture funding and yet are one of the fastest growing categories of entrepreneurs. In order to address continued gaps in funding and access to other essential resources, and to address the resulting opportunity and wealth gap, MassChallenge has committed to a multi-year project to invest in Driving Equitable Outcomes for the over 500 startups it supports each year that includes several critical components: Outsized investment in historically underrepresented founders, including increasing participation in MassChallenge’s proven startup accelerator program, executive coaching from successful entrepreneurs with shared perspective, and a focused program to increase access to capital Investment in a more inclusive entrepreneurial support ecosystem, including through training for all mentors, advisors, and judges on identity and race Thought-leadership and white papers highlighting the selection and acceleration processes that exclude founders and new approaches to create more equitable and inclusive approaches This project is critical to addressing the national gap in opportunity for historically underrepresented founders to achieve similar outcomes to white and/or male peers. This gap is mirrored in local gaps in each of the hubs in which MassChallenge operates today–Boston, Houston, Dallas, Austin, and Rhode Island. Because the opportunities are so rich in Massachusetts with a strong community of investors, innovators, and an entrepreneurial ecosystem that accelerates start-ups, we will apply our successful model to Boston.
