In many parts of rural and tribal America, upwards of 21 percent of the population lack broadband access, and the obstacles to installing and preparing people to use broadband in rural America are high and complex, in spite of unprecedented federal support. LISC has been helping local nonprofits, as well as town, county and tribal governments, to leverage public capital and get connectivity, digital devices and training into local places and the hands of residents. The upshot is more people and regional economies accessing business, educational and social opportunities that are imperative for life in the 21st century.

By Anna Smukowski, LISC Investor Relations and Capital Strategies

As part of an ongoing blog series, LISC’s Anna Smukowski looks at the way LISC is advancing the UN Sustainable Development Goals (SDGs) through a range of activities supported by LISC Impact Notes, including investments that support Industry, Innovation and Infrastructure.

The federal CDFI Fund recently announced a new round of New Markets Tax Credit allocations, including a $50 million award to LISC to fuel economic development, health and jobs. "New Markets Tax Credits help us fill capital gaps for women- and minority-owned businesses, rural communities and communities of color that are working to overcome long histories of discrimination,” noted LISC President and CEO Maurice A. Jones.

The Community Development Financial Institutions (CDFI) Fund, part of the U.S. Treasury Department, announced the recipients of $3.5 billion in New Markets Tax Credit (NMTC) allocations for 2019. The awards include $60 million for LISC, which will be deployed through its subsidiary, the New Markets Support Company (NMSC). Since its inception, NMSC has harnessed $1 billion in tax credits to offer flexible capital for projects that benefit low-income communities across the country--projects ranging from Cincinnati’s CityLink Center, home to 15 social service agencies, to a health clinic-plus-grocery store in Brockton, Mass. to a public library in Petersburg, Va.

The Power of Partnerships

From the unprecedented $1.5 billion we invested last year in people and communities across the country, to our burgeoning collaborations with sectors ranging from tech and healthcare to sports and local government, the LISC 2018 Annual Report is chock full of good news, good numbers, and good ideas. These resources and strategies propel us on our journey to shape a brighter future for all our nation's residents. And that, in a nutshell, is the heart of LISC's mission. Read on!