Caterpillar Selects LISC To Help Rebuild Blighted Peoria Neighborhoods And Create Jobs

The Caterpillar Foundation and the nonprofit Local Initiatives Support Corporation (LISC) today announced that they are teaming up to help distressed neighborhoods in this city where the iconic heavy machinery manufacturer has long had its world headquarters. The foundation, which is funded by Caterpillar Inc., has committed $3 million to LISC so it can bring its tested model for reviving blighted neighborhoods to Peoria. [Anika Goss-Foster, LISC’s program vice president for the Midwestern region] She emphasized that LISC wasn’t working in Peoria because it has more poverty or problems than other places.  “We are here because of the local capacity to lead change and the financial capacity to get the work started.  Too few smaller cities have that combination.” More than a year in the making, the launch of LISC Peoria is the result of extensive conversations among city, business, and community leaders who cited Peoria’s need for an intermediary that understands how to lend and invest in low-income communities.

Sacramento Bee

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