INDIANAPOLIS — JPMorgan Chase & Co. has announced the donation of a former bank branch to Englewood Community Development Corporation (CDC) and a $500,000 commitment to Local Initiative Support Corporation (LISC) Indianapolis and IUPUI. Together, these investments aim to drive economic development and inclusive growth in Great Places 2020 neighborhoods.
The donation of a former bank branch at 3000 E. New York Street to Englewood CDC. Englewood made the property available to local business to create Vault, a community co-working space in Englewood Village, a Great Places 2020 neighborhood. Vault is the first co-working space in this part of the city, and provides much-needed opportunities for entrepreneurs wanting to launch or grow their own small businesses. Permanent office leases and a month-to-month co-working model will provide flexible physical space for growth. This space will be available for local community organizations as well as training and meeting space for area businesses.
A donation of $300,000 to LISC Indianapolis will maximize investment in key Great Places programs and projects leading up to the city’s Bicentennial next year in five key neighborhoods: Englewood Village, King Commons, Maple Crossing, River West, Twin Aire.
A donation of $200,000 to IUPUI will support SOURCE River West Entrepreneurship Center. SOURCE River West, a Near West initiative in partnership with IUPUI and the Business Ownership Initiative of the Indy Chamber. The funds will expand services to entrepreneurs and small business owners across Great Places 2020 neighborhoods to increase business knowledge, encourage startups, and support business growth.