Economic Development
LISC Rhode Island has developed an inclusive economic development framework that takes two approaches to improve wealth equity — for the individual, LISC has developed and delivered programs and supports necessary for people to find fulfilling and living wage jobs — and for the community, by supporting entrepreneurs and business development organizations with the resources they need to support their clients.
LISC expands the ability of people, places, and businesses to contribute to equitable prosperity, so that all are able to thrive. Our work creates accessible opportunities for people to find jobs through programs like Bridges and our Financial Opportunity Centers that increase their income and assets. At the same time, our programs grow businesses and rebuild neighborhood economies by targeting investments in mission-driven and transformative projects like the WaterFire Arts Facility, the Neighborhood Health Station and Urban Greens.
Supporting Enterprises
LISC supports job growth in underserved communities by helping equip local businesses with the resources they need to grow. We provide direct financing while also building out larger networks of coordinated assistance for small enterprises overlooked by conventional financing channels. We strategically support businesses in low- and moderate-income communities, as well as businesses owned by veteran, woman, and minority entrepreneurs. In Rhode Island, we are working with local partners to form a collaborative of Business Development Organizations to share best practices and resources, and network with LISCs national network of BDOs. In addition, LISC is providing access to:
- LISC Strategic Investments develops and manages various business investments vehicles outside of National LISC Loan Portfolio through impact funds, community investment accelerators, and venture investments.
WaterFire Arts
WaterFire, Rhode Island's iconic art installation and performance event, needed a headquarters and turned to the community for help. LISC provided initial seed money that allowed the group to purchase the building and begin design work. The end result is a beautiful $13M, 37,000 square foot event space and office complex that rescued a vacant, historic, industrial building in an underserved area of Providence.
Urban Greens Opens in PVD
Urban Greens, a food co-op and mixed-income housing complex broke ground in Providence.
