PROVIDENCE – State and local leaders joined Rhode Island Black Business Association founder, CEO and President Lisa Ranglin on Monday to celebrate the acquisition of a building that will serve as the organization’s new headquarters and an equity business hub.
The 220 Smith St. building in located near the Statehouse. It will serve as a business hub for small businesses and professionals, offering co-working space and a state-of-the-art training facility for RIBBA members and partners.
“The purchase of these new offices is both an investment in our organization’s future and our community. The hard work and commitment of our staff, board of directors, partners, and members allowed us to make this acquisition from a position of growth and strength,” Ranglin said.
Sen. Jack Reed, D-R.I., helped secure a $1 million federal earmark in the fiscal 2022 appropriations law to help strengthen RIBBA’s outreach. Fellow Democratic Sen. Sheldon Whitehouse secured a $500,000 earmark in that same law to help RIBBA acquire the new headquarters building, while Providence is allocated $137,500 in federal American Rescue Plan Act funding.
Additionally, Ranglin’s association is also providing $137,500 to aid RIBBA’s mission of reaching and supporting Black-owned small businesses and underrepresented and underserved entrepreneurs.
“From this new Smith Street headquarters, the Rhode Island Black Business Association will now have the space to significantly expand the resources it provides Black entrepreneurs and small-business owners,” Whitehouse said. “That additional support will pay dividends for the community through jobs created and business growth.”
