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Economic development center receives $550K

Posted: November 29, 2012 2:00 a.m.
Updated: November 29, 2012 2:00 a.m.
 

The Valley Economic Development Center received a combination opportunity fund grant and loan totaling $550,000 from the California Community Foundation.

Grants and loans of $133 million were made by the foundation to assist nonprofits and charitable institutions for affordable housing, health care, arts, education, environmental and other causes during the 2011-2012 fiscal year, the organization announced Tuesday.

The investment in various communities represents an increase of 10 percent over the previous fiscal year. Nearly two-thirds, $94.5 million went toward supporting the nonprofits of Greater Los Angeles.

Among the grants made by the organization: 822 grants equaling $41.5 million were distributed throughout Los Angeles County, 15 grants totaling $556,000 to Antelope Valley organizations, and 271 grants of $3.5 million in the San Fernando Valley.

The center helps creates jobs and provides loans to small- and medium-sized businesses throughout the region, including the Santa Clarita Valley. The nonprofit also provides support services to businesses and entrepreneurs.

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