Six Cities Awarded $5 Million Each to Unlock Economic Opportunities for Black and Latina women

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Friends,

We are proud to share that over the next three years collaborations across six U.S. cities will receive $5 million each in philanthropic commitments to invest in solutions that bring economic opportunities to underserved communities and bolster their long-term vitality.

This year, we focused on solutions by and for Black and Latina women. Black and Latina women in the U.S. have long been the financial backbones of their households and communities both as breadwinners and as consumers. At the same time, they also contend with overlapping race and gender pay and wealth gaps - and there is a ripple effect for their families, communities, and the overall economy.

JPMorgan Chase believes a more inclusive economy – in which more people have equitable access to opportunity – is a stronger economy. That’s why we believe that a sustained recovery and equitable economy must center the specific priorities of Black and Latina women.

We’re proud to support these organizations as part of JPMorgan Chase’s $30 billion racial equity commitment to drive economic inclusion, building on the firm’s initiatives to invest in community-based strategies across the country.

  • BALTIMORE, MD: Latino Economic Development Center of Washington DC and partner organizations aim to create a continuum of wealth building programs for Black and Latina women real estate developers in West Baltimore.
  • LOS ANGELES, CA: Inclusive Action for the City and partner organizations will implement a county-wide initiative in Los Angeles advocating for new permit systems governing the open air economy that create more opportunity access for Black and Latina street vendors and other micro-entrepreneurs, while helping to launch or expand their businesses through legal assistance, capital access, and professional development opportunities that accelerate wealth building.
  • MIAMI, FL: Neighborhood Housing Services of South Florida and partner organizations will provide worker-owned business training, financial capability education, and access to capital to Black and Latina women in South Florida’s care economy, equipping them with the tools to launch and develop worker cooperatives. The worker cooperatives, businesses that are owned and run by the people who work there, will provide good jobs and workplace conditions, as well as wealth-building opportunities.
  • MINNEAPOLIS-ST. PAUL, MN: Center for Economic Inclusion and partner organizations will launch a multi-sector accelerator committed to maximizing wealth-building and job creation with Black and Latina women business owners in the Minneapolis-St. Paul region.
  • NEW ORLEANS, LA: Beloved Community and partner organizations aim to foster Black and Latina women-led child care businesses that value Black and Latina women as caregivers, entrepreneurs, employees and mothers.
  • WASHINGTON DC: Martha’s Table and partner organizations aim to increase access to education, skills, and training opportunities, as well as wealth building and capacity building for early childhood educators and the centers that employ them.

Congratulations and thank you to all of our new partners. We’re honored to support your work.

To learn more about our work to support inclusive growth in cities, I encourage you to visit our website.

Sincerely,


Demetrios Marantis
Global Head of Corporate Responsibility
JPMorgan Chase & Co.

 
For more information on JPMorgan Chase's efforts, visit JPMorganChase.com.

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