A New HQ for RIBBA & an Equity Business Hub to Empower Black-Owned and Minority Businesses – Clerk of the House

by | Nov 7, 2022 | Business

PROVIDENCE, RI – Today, U.S. Senators Jack Reed and Sheldon Whitehouse joined Lisa Ranglin, Founder, President & CEO of the Rhode Island Black Business Association (RIBBA), along with U.S. Representative David Cicilline, Providence Mayor Jorge O. Elorza and Neil Steinberg, President and CEO of the Rhode Island Foundation to announce the acquisition of 220 Smith Street to serve as RIBBA’s new headquarters and a co-work space for budding entrepreneurs in the city that are looking to scale up.  RIBBA’s new building, located around the corner from the State House, will serve as an Equity Business Hub for local small businesses and professionals, offering co-working space and a state-of-the-art training facility for RIBBA members and partners. RIBBA has received a variety of federal, local, and community partner funding to grow the organization and help advocate for and promote the successful development of Black and minority-owned businesses across the state.Senator Reed secured a $1 million federal earmark in the fiscal year 2022 appropriations law to help RIBBA expand, deepen, and strengthen its programming, services, and outreach.  Senator Whitehouse secured a $500,000 earmark in that same law to help RIBBA acquire the new headquarters building.  Additionally, the City of Providence is allocating $137,500 in federal American Rescue Plan Act funding to support the initiative.  The Rhode Island Foundation is also providing $137,500 to aid RIBBA’s mission of reaching and supporting Black-owned small businesses and underrepresented and underserved entreprene …

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