WASHINGTON, DC - The Latino Economic Development Center (LEDC) is the recipient of a $700,000 award to finance food businesses committed to creating job opportunities for low-income residents in the District of Columbia. The award is a three-year grant from the U.S. Department of Health and Human Services' (HHS), Community and Economic Development (CED) program and comes at a critical time. The District's unemployment rate is the second highest in the country and job growth continues to slow.
"LEDC is thrilled to receive this grant again from the U.S. Department of Health and Human Services," stated LEDC Executive Director Marla Bilonick. "Through our last CED grant, we financed four restaurants in the District which created 20 new full-time and 27 part-time jobs. One restaurant expects to create an additional 15 full and part-time jobs. These are the kind of results we are proud to bring to the communities we serve and intend to surpass with this year's grant."
The grant is a 75 percent increase from the grant LEDC received from HHS in 2016. LEDC projects to create 80 new permanent full-time jobs and will partner with workforce development and food industry training partners to ensure that at least 75 percent will be filled by Temporary Assistance for Needy Families (TANF) recipients, custodial parents, or other low-income DC residents. LEDC is a certified Community Development Financial Institution (CDFI) and SBA lender with over 27 years of experience serving small businesses in the Greater DC region.
About Community Economic Development (CED)
The Community Economic Development (CED) program is a Department of Health and Human Services, Office of Community Services (OCS) initiative designed to address the economic needs of low-income individuals and families through the creation of sustainable business development and employment opportunities.
Learn more about CED