Jobs for Fall River
FALL RIVER
Jobs for Fall River, a private nonprofit organization, has provided economic development services to the City of Fall River over the past 25 years.
Over this period of time, JOBS has originated low interest loans to over 520 businesses, resulting in the creation or retention of more than 12,000 jobs for low and moderate income workers.
In 1999, one of the first Life Initiative loans was to support a JOBS small business loan fund. The loan fund assisted a wide range of businesses including a bakery, woodworking shop, and a variety of manufacturing companies.
In 2003, JOBS began a new community development initiative designed to bring vitality back to the commercial heart of the city. JOBS identified key vacant, commercial and retail properties and began to acquire, renovate and lease them to new tenants. The former Cherry and Webb Department store, located on South Main Street in the City’s Central Business District, was a particularly important building targeted by JOBS because of its adjacency to the new state Court House, its size and its potential for reuse.
JOBS saw an opportunity to purchase the vacant Cherry and Webb building and approached TLI for acquisition and rehab financing. JOBS reached out to the University of Massachusetts Dartmouth to establish a Center for Professional and Continuing Studies in the building. Today over 450 students take classes ranging from criminal justice to nursing. These students support the overall retail businesses and contribute to the increased vibrancy of the downtown. In addition to UMass Dartmouth, the Cherry and Webb building provides space for a coffee house, nonprofit social services agencies and professional offices.