Morgan Stanley, LISC make Clinton Global Initiative commitment

Building on a successful pilot program that brought support to some of the nation’s most distressed neighborhoods, Morgan Stanley, along with the Local Initiatives Support Corporation (LISC) and CDC Small Business Finance, announced a $25 million Clinton Global Initiative (CGI) Commitment to Action for an expansion of the Job Creation and Community Revitalization Fund.

LISC's New Markets Support Company manages the fund.

This CGI Commitment to Action more than doubles the impact of the 2012 pilot program, allowing the program to expand to more communities and provide additional opportunities for small businesses in underserved markets across the country to access capital through year-end 2015. First launched by Morgan Stanley and LISC in 2012, the initial $10 million fund has been invested in a range of companies, from a dental practice in Milwaukee and a construction firm in Phoenix to a neighborhood café in Indianapolis – all of which have added jobs in economically distressed areas as a result.

Read the full announcement.

Congratulations to NMTC borrower Houston Food Bank

Feeding America recently named Houston Food Bank its "2015 Food Bank of the Year". LISC provided $11 million in New Markets Tax Credit allocation to Houston Food Bank to acquire and rehabilitate three separate buildings totaling more than 440,000 square feet. The new facility is quadruple the size of the food bank's former space and increases its capacity to provide essential services to the community. In its first year in the new facility, Houston Food Bank became the largest member of Feeding America, both in the quantity of food distributed and the size of the facility. Learn more about Houston Food Bank's recent achievement here. For more information on how LISC's New Markets Tax Credits made Houston Food Bank's new facility possible, click here.


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