Reed, Whitehouse to Join RIBBA Ribbon Cutting at New HQ & Equity Small Business Hub
PROVIDENCE, RI – On Tuesday, May 7 at 10:30 a.m., U.S. Senators Jack Reed and Sheldon Whitehouse will join with Lisa Ranglin, Founder, President & CEO of the Rhode Island Black Business Association (RIBBA); Providence Mayor Brett Smiley; David Cicilline, President & CEO of the Rhode Island Foundation; and community partners to celebrate the official opening of RIBBA’s new headquarters on Smith Street.
The newly renovated building will offer co-working space and a state-of-the-art training facility for members and partners while also serving as an Equity Business Hub for local small businesses.
This new headquarters was supported by a variety of local, federal, and community partner funding to strengthen and expand RIBBA’s programs and help advocate for and promote the successful development of Black-owned businesses across Rhode Island.
Senator Reed secured a $1 million federal earmark in the fiscal year 2022 appropriations law to improve the facility and help RIBBA expand, deepen, and strengthen its programming, services, and outreach. Senator Whitehouse secured an additional $500,000 earmark in 2022 to help RIBBA acquire the property. In addition, the City of Providence dedicated $137,500 in federal funding under the American Rescue Plan Act for the project and the Rhode Island Foundation provided an additional $137,500 to support the initiative.
Founded in 2010, RIBBA is a non-profit organization dedicated to helping underserved business communities throughout the state grow their ventures and build a robust and diverse leadership pipeline for Rhode Island through its development and mentorship programs. According to RIBBA, the non-profit’s program model is based on their pillars of success: financial empowerment, workforce development, business development, contracting, learning series, capital pathways, advocacy, entrepreneurship, and mentorship. These action steps aim to create a ripple effect that will positively impact the community with continued support. RIBBA’s overarching goal is to close the racial wealth gap and provide services that will lead to increased financial stability, productivity, job creation, diversity, and innovation.
