Community Economic Development

In community economic development, Propeller’s Impact Accelerator sponsored by Advancing Cities, Blue Cross and Blue Shield of Louisiana, Capital One Bank, Entergy Corporation, the Greater New Orleans Foundation, Hancock Whitney Bank, The RosaMary Foundation, Thrive New Orleans, US Department of Agriculture, US Small Business Administration, the Weishaupt Foundation, and the W.K. Kellogg Foundation,, focuses on supporting Black entrepreneurs growing brick-and-mortar businesses that create jobs and build community along the Broad Street corridor. Additionally, the CED focus area supports BIPOC-led organizations working to create an equitable operating environment for BIPOC-led real estate developers and Black, Indigenous, and Latinx entrepreneurs that develop affordable housing in the Broad Street Corridor.

APPLY NOW

For additional information, view our Program Overview.

Program Dates: July 23 - November 15

Priority Application Deadline: May 15, 2022

Final Application Deadline: June 12

Key Dates

Applicant Info Session Q&A: April 14
Applicant Info Session Q&A: May 12

Program Eligibility

  • Propeller Entrepreneur Profile
  • For-profit or nonprofit with earned revenue that qualify for at least ONE of the three listed eligibility categories below

Priority Eligibility Category: Black-owned Brick and Mortar Storefronts

  • For-profit
  • Operating a brick-and-mortar storefront
  • Headquartered on or along North/South Broad Street, Central City, or New Orleans East
  • Majority (50%+) owned by Black person(s)
  • Preferred: Storefront business that has existed in the neighborhood for 3+ years with the desire to stay in the neighborhood, create livable wage jobs, and build strong community ties

Priority Eligibility Category: Affordable Housing Development

  • For-profit or non-profit
  • Organization is developing affordable housing within rapidly gentrifying New Orleans neighborhood(s)
  • Majority (50%+) ownership by Black, Indigenous, or Latinx developers or majority (50%+) of executive leadership and board led by Black, Indigenous, or Latinx developers
  • Preferred: Emerging developers creating high quality affordable housing at the 30% - 50% area median income (AMI)

Eligibility Category: Ecosystem Change Venture

  • For-profit or non-profit
  • Mission of the organization supports activities seeking to shift the entrepreneurial ecosystem towards being more equitable for BIPOC entrepreneurs based in New Orleans
  • Majority (50%+) ownership by BIPOC individuals or majority (50%+) of executive leadership and board led by BIPOC individuals
  • Preferred: Organizations that mission directly support the equitable advancement of BIPOC entrepreneurs through direct services or through policy and advocacy work

Success Story

JB Holton & Associates

JB Holton & Associates

“The biggest thing I think I learned during the Propeller program was more that it takes a real team to be successful. Growing up, I always played team sports, so I understand the team concept. But, finding the right players to be part of your team is pivotal. You can’t just think you can do it all yourself. You really have to trust other peoples’ judgement and those that have been there before you who can guide you through this process. I forever feel like Propeller is family, and I look forward to continuing to work together.” - Joel Holton, J.B. Holton and Associates

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