LISC and State Farm expanded their long-time partnership this week with new funding to boost economic opportunities in 11 cities. "Millions of people are looking for opportunities to earn higher wages and build stronger futures for their families,” said Maurice Jones, LISC president and CEO. "Our partnership with State Farm is vital to advancing th [...]
Winter may be hanging on longer than expected (in some parts of the country), but at LISC, the month of March has blossomed like never before. In the last three weeks, we raised $68 million—from longstanding donors such as State Farm and Wells Fargo, through new partnerships with ProMedica, Union Pacific and the San Francisco Foundation, and with expanded public resources from the CDFI Fund and the city of Washington, DC. We’ll invest it. We’ll leverage it. We’ll use it to lift up underinvested neighborhoods and develop the skills of talented people in our neighborhoods. There’s still much to do to foster economic opportunity in our communities and we are grateful for this support, which helps us do the job. What a month it’s been. And we've still got a week to go!
The Treasury Department’s CDFI Fund announced a new round of Capital Magnet Fund grants to spur an expected $3.2 billion in affordable housing and economic development. LISC will use its $7.5 million award—the largest in this round of funding—to seed $150 million in development activity in urban and rural communities.
Opportunity Zones are poised to attract significant capital for new housing, businesses and jobs in under-resourced communities. At CNN.com, LISC’s Maurice Jones and The Kresge Foundation’s Rip Rapson take a closer look at what investors should consider when evaluating high-impact projects, drawing on decades of community investing experience to identify what works to raise standards of living and drive economic growth.
A new $3 million grant from Union Pacific will help underemployed people in Chicago, Houston, Kansas City and Tacoma build the skills they need to compete for good jobs and raise their standards of living. “Union Pacific is investing in American workers and an economic future based on quality jobs,” said Maurice Jones, LISC president and CEO.
LISC and Wells Fargo have a long history of collaboration on work to expand housing, economic development, health, safety and jobs. A new $2.5 million grant from the bank will help LISC expand Financial Opportunity Centers in 15 cities so they can reach more people with more services, and help people raise their incomes and overall standards of living.