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December 23, 2014

Nonprofit Investment in Neighborhoods Pays Off, Study Finds

A national nonprofit that invests in dozens of struggling neighborhoods nationwide says its research shows those communities have had greater wage and job growth than areas in which it is not active, Indianapolis radio station WFYI reports. The study assesses 63 neighborhoods in which the Local Initiatives Support Corporation (LISC) has made loans and grants for more than a decade, including Indianapolis' southeast side, where the organization has supported commercial and artistic revitalization efforts.

Income and employment in those areas grew by 9 percent more than in communities that were not part of the organization's investment strategy. According to a LISC press release, the corporation has pumped $750-million in grants, loans, and equity investments into the 63 target neighborhoods since 2007 as part of its "building sustainable communities" strategy.