The funding, provided by engine maker Cummins, will be distributed to local Black-owned businesses in the form of grants and forgivable loans. The nonprofit will accept applications through March 24.
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The 6,700-square-foot location will open on level 1 south this summer.
The state’s unemployment rate also declined to 4.5 percent in the first month of 2021, though that was again due to a decline in labor force participation.
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The organization has distributed $682,000 in grants to 51 nonprofits in its fifth and final round of Covid-19 relief funding.
Despite 2020 losses, the lifestyle retailer is optimistic about a spring rebound and will open at the Minnetonka mall April 1.