Local Initiatives Support Corp. names new Va. executive director

The Local Initiatives Support Corporation (LISC) has selected Jane Ferrara as executive director of LISC Virginia, a nonprofit organization that raises capital and creates programs to support community revitalization and economic development. Ferrara starts the new position Feb. 3.

LISC has raised more than $32 million locally and has invested $639 million into Richmond-area housing, business and jobs.

Ferrara most recently served as the city of Richmond’s senior deputy director for economic development. During her time with the city, she led a team that attracted more than $400 million in investments, adding 3,200 jobs and retaining 1,300 jobs. She has previously served as secretary of the board of Richmond’s Economic Development Authority and the director of real estate leading Richmond’s Real Estate Services Department.

“Jane has the expertise, relationships and deep community connections that are so vital to leading our local investment efforts,” LISC President and CEO Maurice A. Jones said in a statement. “She brings both public- and private-sector experience that will help LISC expand affordable housing, build up small businesses, prepare workers for quality jobs and tackle the issues that impact the health and well-being of residents.”

Ferrara is on the board of the Better Housing Coalition and served on the board of the Children’s Museum of Richmond. She is a gubernatorial appointee of the Virginia Economic Development Partnership and was a fellow in the Rose Center for Public Leadership. She earned her bachelor’s degree from Old Dominion University.

LISC was founded in 1979 and has invested a total of $20 billion to build or rehab 400,500 affordable homes and apartments in Virginia.