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MS01 Stories

Gulf Coast Renaissance Corporation Created to Aid Mississippi

Gulf Coast,
Mississippi

Renaissance Community Loan Fund
GO-ZONE (2005), Restoring Housing

Hurricane Katrina hit South Mississippi in August 2005. In the devastating storm’s wake lay some of the greatest structural devastation from a natural disaster in the history of the United States. But amid the flooded ruins, hope found a way to float through the vision of several South Mississippi community and business leaders, organized as The Gulf Coast Business Council. In mid 2006, the council created Gulf Coast Renaissance Corporation, a CDFI, to help rebuild the Mississippi Gulf Coast by bridging the gap in the need for safe and affordable workforce housing.

Calvert Foundation Gulf Coast Recovery Initiative

Gulf Coast,
Alabama, Louisiana, Mississippi

Enterprise Community Partners, Local Initiatives Support Corporation
GO-ZONE (2005)

Just fifteen months after Katrina, the Calvert Foundation had already directed a total of $1.6 million in affordable loan capital to the Gulf Coast Region. These loans were based, in part, on investment funds raised since 2005 through its “Gulf Coast Recovery Initiative.”

The GO Zone Act of 2005 Expands the New Markets Tax Credit into Gulf Opportunity Zones

Gulf Coast,
Alabama, Louisiana, Mississippi, Texas

GO-ZONE (2005)

Hurricane Katrina devastated many New Orleans, Alabama, and Mississippi communities that were already reeling from decades of poverty, unemployment, and economic stagnation. In the wake of Katrina, Congress passed The Gulf Opportunity Zone (GO Zone) Act of 2005, P.L. 109-135, which provided tax relief to The GO Zone, comprised of those counties or parishes that were deemed eligible by FEMA for “individual assistance” or “individual and public” assistance in after the storm.

Hope Economic Empowerment Center

Jackson,
Mississippi

Hope Enteprise
Incubator

Hope is leveraging NMTC financing to develop the Hope Economic Empowerment Center (HEEC), a 13,442 sq. ft. financial services and resource hub located in Jackson, Mississippi.

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Map of MS01 CDFI Branches and Stories

Thank you to our partners at Inclusive and CDBA for sharing data on CDFI Bank and CDFI Credit Union branch locations. In addition, about 100 of our CDFI Stories come from OFN’s story database.

MS01 Investment Map

CDFI Investment Map

Mapped CDFI investment data (2005-2023), via the CDFI Coalition's partnership with CDFI Friendly America.

CDFI Advocacy App

Want more state data? Check out CDFI Friendly America's mobile-friendly CDFI Advocacy App for impacts from 2005-2023.