LISC New Jersey 40th anniversary. Newark is a city of neighborhoods, each with its own history, character and sense of pride. Its strength has always come from its people. When the Local Initiatives Support Corporation opened its New Jersey office in 1986, local leaders had a vision for their neighborhoods, but decades of disinvestment and limited private development stood in their way. LISC put national resources behind local ideas, supporting community development organizations and nonprofits rebuilding housing, delivering services and restoring confidence. "The first task in any community is to come into the environment and build those relationships," said Judith Thompson-Morris, LISC New Jersey's deputy director and a 30-year veteran of the organization. "Then you find out what the challenges are and start from there." Richard Manson, who served as LISC's program vice president for the region, remembers those first decades as a steady progression. "The first 10 years were about credibility," he said. "The second 10 years were about trying to get to scale." Manson retired in 2020 after 39 years at the organization. "Affordable housing was an early priority then - just as it is now," he said. LISC helped nonprofit developers build their skills and use Low-Income Housing Tax Credit equity to pursue projects of greater scale. As homes were built and rehabilitated, the work demonstrated what community-led development could accomplish and drew broader attention and investment to Newark's neighborhoods. LISC's partnership with La Casa de Don Pedro, one of Newark's most enduring community institutions, shows how that work grew over time. La Casa began with a strong history in social services, childcare and advocacy for immigrant families. Through LISC's Building Sustainable Communities initiative, the partnership expanded into a place-based effort focused on Lower Broadway. "Rather than treating housing, jobs, businesses and family finances as separate issues, LISC and La Casa worked across the neighborhood to touch all the aspects that made the community 'hum,'" said Thompson-Morris. LISC supported planning, housing, commercial corridors, resident engagement and economic stability. Lower Broadway became an early testing ground for LISC's Financial Opportunity Center(R) program model, which helps people find employment, improve their credit, reduce debt and build savings. "The initiation of the FOC network started with La Casa," Thompson-Morris recalled. Today, that network has grown to seven centers across New Jersey that deliver the FOC model and serve thousands of residents through financial coaching, job training and placement, and income support services. As LISC New Jersey's work matured, affordable housing remained foundational. Increasingly, however, the office connected housing to employment, household finances, public safety, youth opportunity and neighborhood life. Mayor Ras J. Baraka recognized the value of connecting workforce development with broader financial support. As Newark partners expanded the model, Baraka called it "a valuable contribution to our strategy of preparing and matching Newark residents with living-wage jobs," adding, "This will prepare city residents for jobs in high-demand fields." Craig Drinkard of the Victoria Foundation, a longtime LISC partner and former chair of its local advisory committee, points to Lower Broadway as an example of what sustained investment can accomplish. "LISC's commitment helped La Casa grow stronger, and as La Casa grew stronger, so did the neighborhood," Drinkard said. "That is the value of long-term partnership." Resident leadership became an especially visible part of that story. Through initiatives including the Newark Resident Leadership Academy, Growing Leadership, Building Community and Neighbors Helping Neighborhoods, LISC provided residents with training, relationships and flexible funding to pursue their own ideas. That belief in community leadership is also reflected in LISC New Jersey's safety work in Newark's Fairmount neighborhood, where residents, police and community organizations have worked together to address the conditions behind crime and fear. Investments in parks and recreation have created places where children and families can gather, play and feel at home. In 2018, LISC and the Victoria Foundation, one of LISC New Jersey's founding partners, developed Neighbors Helping Neighborhoods, a grant program designed to help launch resident-led projects. Since then, nearly 75 projects have received support totaling more than $300,000. Participants do not need to create a nonprofit organization to qualify. They need a team of neighbors, a credible idea and the commitment to carry it forward. Long-term partners have sustained the work. Diane Johnson, a retired U.S. Department of Housing and Urban Development leader and longtime member of LISC New Jersey's local advisory committee, became involved through the late Rhonda A. Lewis, who led LISC's work in Greater Newark for a decade. Lewis's legacy continues through LISC's emphasis on community impact and through the Rhonda A. Lewis Inspirational Community Advocate Award, established with her family after her death in 2020. Presented through the New Jersey Neighborhood Achievement Awards, it honors leaders who embody the courage, care and persistence she brought to her work. Over time, LISC New Jersey expanded beyond Newark into communities including Paterson, Jersey City, East Orange, Trenton, Camden, Elizabeth and Perth Amboy. That work includes preparing more organizations to help address the state's housing shortage. LISC New Jersey's Housing Development Training Institute brought together 31 organizations. Its $2 million Affordable Housing Ecosystem-Building Fund provides recoverable grants and predevelopment capital for place-based projects. The New Jersey Alliance to Build Communities combines financing, grants, technical assistance and community engagement to expand and preserve affordable housing. In Paterson, LISC was selected to help carry out the housing plan for the One Square Mile initiative. Shaped with community input, the plan focuses on affordability, housing stability and quality, neighborhood safety and opportunities for residents to build wealth. LISC New Jersey also strengthens support for small businesses. Its Small Business Continuum to Collective Capital Access initiative connects more than 20 business development organizations across the state, aligning technical assistance, training and capital so entrepreneurs can receive stronger, more coordinated support. "The scale of the journey has been staggering," said Jorge Cruz, executive director of LISC New Jersey. Since 1986, LISC New Jersey has invested nearly $500 million and leveraged approximately $1.5 billion for affordable housing, economic development, small businesses, and income and wealth-building programs. "Those numbers tell a dramatic story of on-the-ground impact to build resiliency and create sustainable neighborhood culture," Cruz said. In 2025, the office invested $35.5 million, leveraged another $133 million and awarded $894,000 in grants. That work supported 163 affordable homes and apartments, 21,000 square feet of commercial and community space, and 57 community partners. Forty years after LISC New Jersey began its work, there is much to celebrate and much more to build. The housing crisis remains urgent. Small businesses still struggle to secure fair access to capital. Community organizations need flexible resources, and residents deserve a meaningful role in decisions that shape their neighborhoods. "Meaningful progress is driven by the strength of local communities," said Cruz. "That principle connects the office's earliest days to its future. The tools have grown, the geography has widened and the challenges have changed, but the approach remains constant: listen locally, invest for the long term and bring people together around solutions."

The strength of Rural places: highlights from the 2026 Investing in Rural America Conference. Oct. 15, 2026 The 2026 Investing in Rural America Conference brought together more than 600 rural community leaders, policymakers, researchers, and community partners from across the country for three days of conversation, collaboration, and learning. Hosted by the Federal Reserve Bank of Richmond and its Center for Rural Economies, in partnership with the Federal Reserve System and Rural LISC, the conference centered on this year's theme, the strength of rural places, and explored the people, partnerships, and locally driven approaches that can expand opportunity and strengthen rural communities. Exploring Economic Mobility and Opportunity Richmond Fed President Tom Barkin opened the conference with welcoming remarks and introduced a video message from North Carolina Governor Joshua Stein. The opening day featured a keynote address from Raj Chetty of Harvard University and Opportunity Insights. His remarks examined economic mobility in rural America and underscored how targeted investment, local talent, and strong social connections can help create greater opportunity. Attendees also heard a conversation about community investment and sustaining growth in small towns, as well as remarks from Federal Reserve Governor Lisa D. Cook and Nadia Villagran of Rural LISC. Focusing on Regional Trends and Local Economies The second day of the conference continued with perspectives from Federal Reserve Bank Presidents Susan Collins of the Federal Reserve Bank of Boston, Jeff Schmid of the Federal Reserve Bank of Kansas City, and Tom Barkin of the Richmond Fed. Their discussion addressed regional trends, workforce dynamics, and the economic challenges and opportunities facing rural places (watch the session). President Schmid offered a memorable comparison, likening the current economy to a seven-layer dip. With relatively high inflation driven in part by AI and data centers, he suggested there may be "too much beans" in the dip. President Barkin responded, "And not enough chips!" The day also included remarks from Anna Kovner, executive vice president and director of research for the Richmond Fed, and Surabhi Dabir, vice president of Rural and Tribal Communities for Enterprise Community Partners. Two plenary sessions explored the role of financial institutions in rural communities and vital role small businesses play in supporting local economies (watch the session). Discussions addressed financing gaps, financial inclusion, the importance of local decision-making, and the people, businesses, and partnerships that help rural communities thrive. Afternoon breakout sessions gave attendees an opportunity to examine issues affecting rural communities and share practical ideas and solutions. Building the Future of Rural Leadership The final day centered on transformative change and the future of rural leadership, a fitting close to a conference built around the strength of rural communities. The morning opened with remarks from Emily Corcoran of the Federal Reserve Bank of Richmond and Lee Anne Adams of NeighborWorks America, who emphasized community-driven solutions and strong partnerships. The agenda also included remarks from Neal Robbins of the U.S. Department of Agriculture. Plenary sessions explored how rural communities have rebuilt after adversity and how colleges and universities are preparing the next generation of leaders. The closing plenary was a highlight for many attendees, featuring the stories and perspectives of young rural leaders who shared the moments they realized they were called to serve their communities. Moderated by Daniel Davis, group vice president for regional economics at the Richmond Fed, the panel featured: * Kalista Pepper, network partnerships and organizational development manager at Appalachia Funders Network * Luke Giddings, mayor of Bishopville, South Carolina, and project manager for the Rural Growth Initiative * Alex White, former town councilman for Luray, Virginia and current Yale Law student Their experiences highlighted the importance of local leadership, love for community, and creating pathways for the next generation to shape the future of rural America. Strengthening Partnerships Across Rural America Throughout the conference, one message came through clearly: rural prosperity depends on local solutions, strong partnerships, and creative approaches to deploying capital. The conversations demonstrated the importance of bringing together residents, financial institutions, government agencies, educational institutions, and community organizations to address local priorities. The Richmond Fed is grateful to the partners who helped make the 2026 Investing in Rural America Conference possible, including its Federal Reserve System partners, program partner Rural LISC, and community partners Enterprise Community Partners, Housing Assistance Council, and NeighborWorks America. Thank you to everyone who attended and contributed to the conference. The Richmond Fed looks forward to building on the ideas, relationships, and connections forged throughout these three days. In Case You Missed It You can watch two sessions online from the 2026 Investing in Rural America Conference: And, stay tuned for an upcoming episode of Speaking of the Economy podcast featuring Raj Chetty, along with an Econ Focus article summarizing his remarks. Contact Us