NEWS: BizFed Institute Receives $25,000 from Bank of America

Posted June 5th, 2015

BizFed Institute today announced it has been awarded a $25,000 grant from Bank of America to fund programs that will help bridge the gap between those who educate tomorrow’s workforce and those who will hire them. The grant is part of the bank’s focus on workforce development within the community and will also help small minority-owned enterprises in the region build capacity and access export opportunities.

“Expanding the capacity for workforce development is critical to creating more jobs across the country and invigorating communities in our regional economy,” said Tracy Rafter, BizFed Institute CEO. “This generous grant will directly complement and accelerate Bank of America’s longstanding commitment to fostering small business growth and minority-owned enterprises – as well as reiterate its recognition that small businesses are the engine of our economy.”

BizFed Institute is a complement to the Los Angeles County Business Federation (BizFed), building upon BizFed’s grassroots alliance of business networks that include more than 120 diverse business associations representing over 265,000 businesses employing nearly 3 million workers across our region, along with 80 premier civic-minded corporations like Bank of America.

The grant will help fund several programs including  an educational roundtable and webinar on international trade challenges and opportunities for LA County businesses, a major public forum this fall, and an international export development mission. In addition, it will help fund partnerships between diverse businesses, local universities and community colleges focused on curriculum opportunities needed to address the unemployment and skills mismatch for 21st century jobs that continues to challenge economic progress.

“Training and technical assistance can make all the difference in helping local entrepreneurs  succeed in launching new businesses that ultimately create jobs and contribute to the vitality of the local economy,” said Raul Anaya, Greater Los Angeles market president, Bank of America. “Bank of America provides workforce development grants to high impact organizations like BizFed to help provide valuable resources that advance the financial longevity of local businesses.”

This funding is part of Bank of America’s intensified philanthropic focus on three core issues vital to the economic health of communities: housing, jobs, and hunger and represents an important component of Bank of America’s lending, investing and giving activities to help advance local economies.

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BizFed Institute ~ The BizFed Institute is a complement to LA County Business Federation (BizFed), engaging civically minded, nonprofit, academic, and regional thought and business leaders for the purpose of building an economically vibrant Los Angeles. The Institute educates, engages and equips members with necessary knowledge and resources to increase capacity, grow businesses, create jobs, educate and train our workforce, and help promote economic vitality. For more information, please visit www.bizfedinstitute.org

Bank of America Corporate Social Responsibility ~ Bank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. As part of these efforts, employee volunteers across the company contribute their time, passion and expertise to address issues in communities where they live and work. Learn more at www.bankofamerica.com/about and follow us on Twitter at @BofA_Community. For more Bank of America news, visit the Bank of America newsroom.

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