RIBBA Celebrates Grand Opening and Ribbon Cutting Ceremony of New Equity Hub

Providence, RI – May 9, 2024 – It’s official! This week marked a monumental moment for the Rhode Island Black Business Association (RIBBA) as we unveiled our new Equity Hub with a Grand Opening and Ribbon Cutting Ceremony. Located at 220 Smith Street, Providence, RI, the event saw a gathering of esteemed guests, community leaders, and supporters. We extend our heartfelt gratitude to all who attended, their presence added warmth and significance to this historic occasion.

The gathering commemorated this significant milestone in RIBBA’s journey towards closing the racial wealth gap in the State of Rhode Island. This work is done through our innovative program model based on our pillars of success: financial empowerment, workforce development, business development, contracting, learning series, capital pathways, advocacy, entrepreneurship, and mentorship. These action steps will create a positive impact in the community – resulting in increased financial stability, homeownership, food security, job growth, and overall economic equity.

Attendees had the opportunity to explore the newly acquired headquarters, interact with the dedicated RIBBA team, and gain insights into the impactful work planned to empower families and promote a more equitable future. The event was graced by the presence of notable figures, including U.S. Senators Jack Reed and Sheldon Whitehouse, Providence Mayor Brett Smiley, Rhode Island Foundation President & CEO David Cicilline, Lt. Governor Sabina Matos, Secretary of State Gregg Amore, State Senators Sandra Cano, Tiara Mack, and Sam Bell, Mayor of Pawtucket Donald Grebien, Providence City Councilwoman Althea Graves, and Former State Representative Robert Lancia.

David Cicilline emphasized the significance of addressing historical inequities, particularly in supporting Black businesses, stating, “There is no way we’re going to achieve the prosperity we want from our state without focusing on generations of inequities that affected the communities of color, particularly black businesses. So, this is a tremendous opportunity that should be a call to action for all of us to do our part.”

The acquisition of the new headquarters and Equity Hub represents a transformative step for RIBBA and the communities we serve. Through the generous support of esteemed partners, including Senators Reed and Whitehouse, the City of Providence, and the Rhode Island Foundation, RIBBA’s vision has been translated into reality. The project received over $1.5 million in federal funding, $1 million being a federal earmark secured by Senator Reed to aid RIBBA’s expansion efforts in programming services, outreach, and facility improvements. An additional $500,000 earmark was secured by Senator Whitehouse to assist in the acquisition of 220 Smith Street. Lastly, the City of Providence along with the Rhode Island Foundation dedicated $137,500 each to support this initiative.

Lisa Ranglin, Founder, President & CEO of RIBBA, expressed her gratitude to all those who contributed to the endeavor, stating, “With collaborative efforts and strategic investments like this, we are not only building an equity hub but also a legacy of resilience and success.”

RIBBA, founded in 2010, has been a steadfast advocate for equity, diversity, and inclusion, empowering Black-owned and minority businesses through various resources and initiatives. With our expanded headquarters and state-of-the-art training facility, RIBBA is poised to amplify its impact and support the economic prosperity of underrepresented entrepreneurs.

Despite the significant support received, RIBBA still faces a $500,000 funding gap to fully realize its vision for the Equity Hub. We invite individuals and organizations passionate about fostering economic empowerment and equity to consider donating to help bridge this gap and support our vital initiatives. Thank you to all who attended, your presence and support are invaluable as we strive to create positive change in our community.

For media inquiries or further information about RIBBA, please visit our website at ribba.org or contact: Lisa Ranglin, RIBBA Founder, President & CEO at Lisa@ribba.org or 401-465-3669.

Join us as we continue our mission toward economic empowerment and equity for all.