Tacoma one of 11 cities included in State Farm-LISC grant
Tacoma is one of 11 metro areas nationwide receiving part of a $4 million grant to improve the lives of residents in struggling neighborhoods.
Tacoma will receive $200,000 of the grant, according to State Farm spokesman Sevag Sarkissian.
The grant from insurance company State Farm and the Local Initiatives Support Corporation (LISC) is intended to build economic opportunities in distressed communities. It will fund programs that encourage entrepreneurial business development and skills among low-income workers.
The two-year grant will expand LISC Financial Opportunity Centers in under-resourced neighborhoods. They help people improve their incomes, credit scores and savings through education and long-term financial coaching.
State Farm, in a news release, said the programs will help business owners to set up shop, create jobs and grow incomes.
“Residents need the skills to be able to take advantage of an improving job market and build stronger financial futures,” said Michael Rubinger, LISC president and CEO.
In addition to the LISC Financial Opportunity Centers, State Farm funding will provide financial support for LISC's national Community Safety Initiative, a crime-reducing program that builds partnerships among residents, police and others.
Along with Tacoma, the other cities included in the grant are Chicago, Houston, Indianapolis, Milwaukee, Minneapolis-St. Paul, New York City, Peoria (Ill.), Philadelphia, Phoenix, and the San Francisco Bay area.
Craig Sailor: 253-597-8541, @crsailor
This story was originally published February 26, 2016 at 4:43 PM with the headline "Tacoma one of 11 cities included in State Farm-LISC grant."