Spotlight on ACC and Our Members! |
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ACC Kicks Off the Latest
Round of Opportunity Appalachia
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With the support of the Appalachian Regional Commission, ACC received a grant in the fall to continue its successful Opportunity Appalachia initiative, which began in 2020. Opportunity Appalachia matches redevelopment projects with technical assistance providers in Central Appalachian states (OH, VA, WV, TN, and NC) and collaborates with project sponsors to secure financing for the projects.
Through 2023, Opportunity Appalachia has worked with 58 projects seeking to secure $471 million for downtown development, manufacturing, IT, healthcare, education, food systems, clean energy, and heritage tourism and recreation in underserved communities. In 2024 and 2025, Opportunity Appalachia will expand activities to include Eastern Kentucky communities and affordable housing projects as well as a mentorship component, and it anticipates supporting 30 projects beginning in the second quarter of 2024.
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West Virginia Opportunity Appalachia Outreach Meeting. Photos courtesy
of Kathryn Coulter Rhodes, Rural Support Partners.
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West Virginia convened on February 15. The dates for the other states are:
- Ohio – February 27
- Tennessee – March 6
- Virginia – March 7
- Kentucky – March 12
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ACC Celebrates Black History Month
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In February, we honor the contributions of Black/African Americans to this country. Of the 34 ACC members, 11 are Black-led. We’re pleased to shine a spotlight on Roberta McCullough, Senior Vice President of Operations at Institute Capital in North Carolina.
A key member of The Institute since 2020, McCullough brings with her over 30 years of experience as a nonprofit and finance professional. She has increased economic and community development throughout North Carolina in such areas as small business lending, management, grant writing, public relations, and training. As part of an ACC data analytics hub pilot in western NC, McCullough is an active participant in a cohort that is compiling and analyzing data for the hub. This data toolkit will provide insights into underserved small businesses and-with input from the cohort- will shape a more tailored and effective approach for reaching rural and BIPOC small businesses. For more information about Roberta and other CDFI leaders being honored during Black History Month,
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ACC Participates in IEDC’s 2024 Leadership Summit |
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Our thanks go to Nathan Ohle, President and CEO of the International Economic Development Council (IEDC), who invited ACC to attend IEDC’s 2024 Leadership Summit in Phoenix, Arizona, and to participate in a panel titled “Investing in Rural and Smaller Communities for Sustainable Outcomes.” It was great to see and meet so many others who are providing invaluable support to rural communities across the U.S., including the Appalachian Region.
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A CDFI Story is an Oscar Contender
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It’s always gratifying when the CDFI industry or a CDFI is recognized for the work they are doing every day to support underserved communities. The Delta Region faces some of the same challenges and opportunities as the Appalachian Region. Fortunately, there are CDFIs in the Delta that are focused on bringing new resources to the area and helping residents create and build generational wealth. One of those CDFIs is People Trust, led by President and CEO Arlo Washington. For two years a film company documented Arlo’s work and spoke to customers and others about how much People Trust is valued for its efforts in underserved communities.
On March 10, we’ll be watching the Academy Awards. The finished product, a short documentary called the Barber of Little Rock, has been nominated for an Oscar! More important, the film underscores the power of CDFIs. Click here to watch the film.
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Funding & Technical
Assistance Opportunities
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This program offers grant assistance to create and augment high-wage jobs, accelerate the formation of new businesses, support industry clusters and maximize the use of local productive assets in eligible low-income rural areas. Eligible applicants are rural jobs accelerator partnerships with expertise in delivering economic and job training programs, consisting of nonprofit entities, state entities, tribal entities, institutions of higher education, and other public bodies. Funds can be used to build or support a business incubator facility, provide worker training, and develop a base of skilled workers and improve their opportunities to obtain high-wage jobs in new or existing local industries. Application deadline: April 1, 2024. APPLY HERE
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This program will make approximately $2 billion in Inflation Reduction Act funding available to support community-driven projects that deploy clean energy, strengthen climate resilience, and build capacity for communities to tackle environmental and climate justice challenges. It will also dedicate $200 million to provide technical assistance to applicants and grant recipients. Grants will fund activities that support climate resilience and adaptation; community-led pollution monitoring, prevention, and remediation; investments in low- and zero-emission and resilient technologies and related infrastructure; workforce development that supports the reduction of greenhouse gas emissions; and more. Application deadline: The Notice of Funding Opportunity will be open until November 21, 2024, and EPA will review applications on a rolling basis. APPLY HERE.
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Loan Portfolio Disaster Dashboard. USDA Rural Development. The dashboard uses data from FEMA to determine the impact of more than 250 major disaster declarations on Rural Development’s Loan Portfolio. The disasters—flood, winter storm, wildfire, hurricane, tornado, landslide and more—can be filtered by number, title, program and sub-program area, property county, and state to obtain information about potential impacts to unpaid principal balances, delinquent loan balances, and borrowers. READ MORE.
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APPALACHIAN COMMUNITY CAPITAL
110 PEPPERS FERRY RD NW
CHRISTIANSBURG, VA 24073
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