The area where you live often has a big impact on a lot of different things in your life. Think about the area where you live. Do you have a grocery store nearby? How about easy access to public health facilities?
Unfortunately, the answer is “no” to those questions for many of our Indianapolis neighbors. For those living in low income areas, increased economic activity can open the door to other opportunities. That’s one of the reasons that certain communities are designated as Opportunity Zones and Promise Zones. In these areas, federal and local partners work together to increase economic activity, improve educational opportunities, leverage private investment, reduce violent crime, and enhance public health.
The Build Fund’s mission is to foster economic opportunity by providing flexible, affordable, and responsible funding. That’s one of the reasons why local and federal agencies awarded the Build Fund various grants that benefit the neighborhoods in the Opportunity Zones and the Indy East Promise Zone. Build Fund successfully completed the following three grants that were focused in the Opportunity Zones and the Indy East Promise Zone:
- A grant from U.S. Health & Human Services Office of Community Services (OCS) in 2016 for $800,000
- A Community Development Block Grant (CDBG) from the Department of Metropolitan Development (DMD) in 2017 for $1.4 million
- A CDBG from the Indianapolis DMD in 2019 for $750,000
Businesses can use funds to buy a property, expand its current location, or purchase equipment. And as part of their commitment, they create jobs that help support the local economy. In total, the grants listed above allowed the creation of 162 local jobs! Some of the jobs that were created include:
- Professional Trainer
- Project Manager
- Welder Fabricator
- Office Manager
- IT Manager
- Field Technician
- Assistant Grower
- Head Grower
- Sales Manager
The Build Fund not only helps to revitalize underserved areas and drive growth in our communities, but its investment stays in central Indiana. As borrowers repay loans, their payments are used to fund new investments and create even more job opportunities across the city.
Learn more about how we can help businesses grow and succeed in and around Indianapolis.