Richard Copeland grew up in the Sumner Field housing project – child of a single mother – near Penn and Plymouth Avenues in North Minneapolis; and by his own admission, he hasn’t gotten that far.
When saying he hasn’t gotten that far, he’s speaking in geographic terms.
Founder and chairman of Thor Companies, Copeland lives not far from where he grew up. And with the Sept. 14 grand opening of Thor Companies’ headquarters and Regional Acceleration Center, 1256 Penn Ave. N., he now also works not far from his childhood home.
“I live about 100 yards from where I grew up,” said Copeland, telling the rooftop audience at Thor how it was his dream to bring his company “home.”
Copeland said it was his dream, but it was Thor CEO Ravi Norman’s vision that made it a reality.
“This is his brainchild,” said Copeland. “I provided the platform, but Ravi brought the vision.”
The vision is a five story, 92,000 square foot, $36 million building with a 625-stall parking ramp. The Regional Acceleration Center houses offices for Thor, Target Corporation, Hennepin County/NorthPoint Health & Wellness, Metropolitan Economic Development Corporation (Meda), Build Wealth Minnesota, ME & I Fitness and Sammy’s Avenue Eatery. The fourth-floor rooftop deck has an unobstructed view of the downtown Minneapolis skyline.
In coming “home” to Penn and Plymouth, Thor brings the 11th most profitable Black company in the nation to North Minneapolis. Including the tenants of the Regional Acceleration Center, five Black CEOs conduct their daily business in the new Northside structure that is the anchor of development taking place at Penn and Plymouth.
“What Richard Copeland and Ravi Norman have shown here is North Minneapolis is jam packed with opportunity,” said Minneapolis Mayor Jacob Frey.
“By moving your business from Fridley to North Minneapolis to provide jobs for the people of this community and hope for this community (Thor is) not only talking the talk, you are walking the walk,” said Gov. Mark Dayton.
Once economically depressed, now there is an optimism not seen before in the corridor that is home to Thor, divisions of Target, Hennepin County, Meda and more. Rep. Keith Ellison (5th Dist.) said the once bleak economic outlook for North Minneapolis was by design.
“The truth is back in 1935 (when the city’s Planning Area Designation map was released with North Minneapolis designated “Negro Slum”) something like this wasn’t in the plans. That’s just the truth,” said Ellison. “This building offers promise that we can turn things around.”
Norman said it is time to reimagine North Minneapolis.
“Imagine North Minneapolis as a robust economy with thriving businesses. Imagine North Minneapolis as a safe and fun environment. Imagine North Minneapolis as an abundant source of talent with premier schools and a place to get quality healthcare. Imagine North Minneapolis as a zone of opportunity,” said Norman. “This vision is a reality right here and right now.”
