Sponsor: Community & Economic Development
Title
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Agreement with Hennepin County for CEO Now Business Institute Programming
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Recommendation
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1. Approve an agreement with Hennepin County for CEO Now Business Institute Programming for the period upon through October 23, 2025, in accordance with the rates established in the agreement.
2. Authorize the Chair and Chief Clerk to execute the agreement.
3. Authorize the County Manager to execute amendments to the agreement in accordance with the county’s procurement policies and procedures, provided the amounts are within the limits of available funding.
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Background and Rationale
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In 2024, Ramsey County launched the CEO Now business program for the first time in partnership with Hennepin County. Designed to accelerate the growth and expansion of existing businesses, CEO Now focuses on early-stage, growth-minded companies. The program equips new founders with the strategic and technical skills needed to build a strong foundation for long-term success, including business systemization and scaling strategies.
Eligible participants are privately owned businesses with at least one employee beyond the owner, a minimum of two years in operation, and annual revenue of at least $250,000. The inaugural cohort saw six Small Business CEOs successfully graduate. All of them are still operating and a few of the participants have been showcased on the Community and Economic Development (CED) newsletter and social media platforms. Additionally, CED referred each of them to New Impact Fund, a nonprofit organization that offers capital to small businesses, giving them the opportunity to access financial support.
With the continuation of the CEO Now program, Ramsey County is strengthening its ability to support emerging and expanding businesses, fostering a more competitive and resilient regional economy.
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County Goals (Check those advanced by Action)
☐ Well-being ☒ Prosperity ☒ Opportunity ☐ Accountability
Racial Equity Impact
The Ramsey County Economic Competitiveness and Inclusion Plan calls for several strategies to foster a more economically competitive community including:
• Strategy 6: Develop pathways to entrepreneurship and Black, Latinx, Asian, and Indigenous business ownership.
• Strategy 7: Attract and grow high-wage industry and innovation: technology, advanced manufacturing, and life sciences.
• Strategy 8: Strengthen business retention and expansion infrastructure to support communities.
The Business Institute Programming provides key supports to small businesses to support these strategies.
Community Participation Level and Impact
Community participation in this board action is to inform the community of programming that comes as a result of a robust engagement process conducted in the development of the Economic Competitiveness and Inclusion Plan.
☒ Inform ☐ Consult ☐ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
The cost for the upcoming CEO Now cohort is not to exceed $23,000. This cost pays for up to four Ramsey County participants. Funds for CEO Now are included in the Community and Economic Development operating budget.
Last Previous Action
On March 12, 2024, the Ramsey County Board of Commissioners approved the CEO Now Partnership Agreement with Hennepin County (Resolution B2024-044).
Attachments
1. CEO Now Partnership Agreement for 2025