LISC is ramping up its national economic development work with the launch of a new small business lender called immito. “Nothing catalyzes opportunity in a community like new businesses launching and expanding,” said Maurice A. Jones, LISC president and CEO. immito is expected to do $100 million in annual lending and will spark entrpreneurship and [...]
The Community Development Financial Institutions Fund (CDFI Fund)—part of the U.S. Department of Treasury—has awarded $700,000 to LISC for intensifying economic development in underserved rural communities. The money will seed a $10 million Fund for Rural Progress to boost investment in infrastructure, business development and job creation, all vital to combating population loss and persistent poverty in rural America.
We’re back! Tune in to this month’s podcast to hear a reflection on how we can best pursue inclusive economic growth by leveraging the assets of communities of color and low-income communities across the country. Special guest Andre Perry from the Brookings Institution’s Metropolitan Policy Program joins Maurice and Morgan to share his perspective on a strategy for highlighting these strengths drawing on his research and work in majority-Black cities. Look out for future special guests in the coming months, as we reflect back and forge ahead as LISC turns 40.
Check out our top three reads of the week connected to community development work. This week, we're talking gentrification, creative placemaking and land use.
A deep-diving article in Next City plumbs the potential promise and perils of Opportunity Zones. Regulation and oversight of the tax incentive program are crucial to allaying displacement and making sure investments benefit under-resourced communities. LISC CEO Maurice A. Jones weighs in on the new wave of investors eager to get involved, noting that insuring transparency is key, so communities and their allies "really know what people are using this tool for and how they’re using it."
In the aftermath of Hurricane Harvey, which wrought an estimated $50 billion of economic and property damage in the Houston area last August, LISC has been working hard to help communities recover—and become more resilient in the bargain. Through our $100 million commitment and multiple partnerships and collaborations, our Houston and Rural programs have made steady strides in rebuilding and equipping Texans for jobs and other economic opportunities that can make the region stronger going forward.