LISC commits $25M to ‘Invest in Rhode Island’

PROVIDENCE – The Local Initiatives Support Corp. Rhode Island last week announced it will make $25 million in grants, loans and equity investments over the next year to promote affordable housing, workforce development and healthy communities across the state.

The announcement of LISC’s Invest in Rhode Island program kicked off the nonprofit organization’s 25th year of work in the state.

“Everyone has a role to play in Rhode Island’s economic comeback. LISC is playing their part,” Gov. Gina M. Raimondo said in a news release. “This initiative invests in Rhode Island.”

The program is designed to support new affordable housing, safe streets, commercial corridors, child care centers and schools, job training and placement programs, and communities with high rates of poverty and unemployment.

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“This $25 million is the largest single commitment we’ve ever made in Rhode Island,” said Jeanne Cola, executive director of LISC Rhode Island. “We want to do all we can to support the economic recovery of the state.” •

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