- About Us
- Our Work
The Local Initiatives Support Corporation, known as LISC, is one of the largest organizations supporting projects to revitalize communities and bring greater economic opportunity to residents. As one of LISC’s local offices, we provide capital, strategy and know-how to our Twin Cities community development partners.
$621 million invested through grants, loans, and equity
$2.3 billion leveraged in additional linvestments in local projects
14,150 new or preserved affordable homes and apartment
2.1 million square feet of new or renovated commercial and community space
7,000 people have improved their financial stability through our Financial Opportunity Center partners
An article in ImpactAlpha describes early efforts by community development groups, like LISC, and foundations to manage Opportunity Zone funds in a way that will maximize benefits for underinvested communities and the people who live and work there. These strategies deal head-on with the stated goal of the new tax legislation: to spur economic development in places where opportunities for residents are currently few and far between.
Over the next ten years, LISC will direct 50 percent of our annual investments to fuel inclusive economic development in underinvested communities across America. That means preparing people to take on high quality, well-paying jobs. And it means ramping up our work to help small businesses succeed and transforming vibrant commercial and industrial districts. “We have no doubt that this kind of progress is good for residents, good for communities and good for the country,’ says Maurice A. Jones, LISC CEO.
Maurice A. Jones testified before the Joint Economic Committee of Congress this week, urging its members to implement Opportunity Zones in ways that will truly benefit Americans in underinvested communities. The policy can spur billions in private investment in the country’s most distressed census tracts and play a major role in closing the opportunity gap, he said. But we need federal regulations and other strategies to help the program succeed.