The Foundation invests $1.1 M in economic development
The Richland County Foundation (RCF) invested $1.1 million in a five-year plan to address local business retention and expansion, workforce development and entrepreneurship.
“This is truly an opportunity to alter the economic development landscape in our area,” said Foundation President Brady Groves. “We want to invest in and partner with existing economic development organizations to encourage a new community development strategy that nurtures greater collaboration.”
Proactive grant making is new to the RCF. Since it was founded in 1945, the Foundation has been fostering philanthropy, accepting applications for funding from local nonprofits and awarding grants totaling more than $69 million. The Foundation is committed to continuing its support of nonprofit organizations.
“Having a multi-year and multi-tiered investment plan created to foster economic development is new for us and rare for a community foundation our size,” said Groves.
The strategic plan called Richland Partnership includes:
- The centralization of business retention and expansion and workforce development efforts
- A scale-up program to identify and target services to area companies to address specific challenges and catalyze growth
- The empowerment of existing organizations to promote entrepreneurship and related services across the county