Seven communities named for Boston Fed Working Cities Challenge support

THE BOSTON FED has chosen the seven Rhode Island communities that will compete for grants to fund projects designed to improve the lives of low-income residents. / FEDERAL RESERVE BANK OF BOSTON
THE BOSTON FED has chosen the seven Rhode Island communities that will compete for grants to fund projects designed to improve the lives of low-income residents. / FEDERAL RESERVE BANK OF BOSTON

PROVIDENCE – The Federal Reserve Bank of Boston joined local and state leaders on Friday to celebrate seven Rhode Island municipalities selected as design-grant recipients of the Working Cities Challenge, a cross-sector collaborative designed to improve the lives of low-income people in small- to mid-sized cities.

The seven communities – Central Falls, Cranston, East Providence, Newport, Pawtucket, Providence and Westerly – were feted at AS220 in Providence, and will now compete for awards between $300,000 and $500,000 after a six-month design phase. Winning teams will implement cross-sector initiatives to “change systems for the benefit of low-income residents,” according to the Boston Fed.

The winning communities submitted various proposals, ranging from a plant to revitalize Sylvian Street in Central Falls to providing professional development training in Providence.
Cranston envisions uniting the east and west parts of its city, which it considers a “racial divide,” to allow low-income residents to “prosper from economic and cultural change.”
East Providence is looking to transform Riverside Square, known locally as “Main Street,” to a “arts district-feel,” with work-live spaces, galleries, restaurants, retail and music venues to complement the existing two waterfront parks, a carousel and bike path.

Each community submitted proposals identifying the various problems that face the municipalities, along with a list of participating team members. The teams members include members from the private, public, nonprofit and philanthropic communities.
The Newport team’s proposal suggests developing a workforce-development system to prepare low-income, unemployed and underemployed residents for higher-skilled, higher-paying jobs.

- Advertisement -

“The workforce development system will also ensure a pipeline of candidates is available to fill vacancies in high-demand industries within Newport,” according to its proposal.
Pawtucket hopes to reduce unemployment for residents and improve the economic climate for low-income residents and residents of color, while Westerly envisions improving the perception and livability of the North End neighborhood by raising education levels, developing the workforce, expanding economic access and bridging the neighborhood to the downtown area.

The initiative was first launched in Massachusetts and after its first year, the six winning Bay State communities received $1.8 million in funding. They also received more than $2.6 million in direct follow-on investment from private funders as a result of winning the challenge, according to the Boston Fed. Funding for the initiative comes from public, private and philanthropic sources.

The Boston Fed does not contribute any direct funding, but does provide winning communities with a partnership with its Steering Committee, one-on-one coaching and a commitment to link the communities with experts, best practices and opportunities for peer networking through the program.

No posts to display