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FOR IMMEDIATE RELEASE
Media contact:
Laura Ruiz
lruiz@thecasltegrp.com 857.384.8854
The Black Economic Council of Massachusetts Awarded a $750,000 grant from The Rockefeller Foundation.
BOSTON (January 23, 2022) – The Black Economic Council of Massachusetts (BECMA) is pleased to announce it has been selected as a recipient of a $750,000 multi-year grant from The Rockefeller Foundation. The Rockefeller Foundation awarded the grant as part of its new economic equity initiative focused on closing the racial wealth gap in communities across the nation, including in Boston.
BECMA will use a majority of the funds, awarded over the course of three years, to provide direct financial support and technical assistance to Black-owned businesses in the Greater Boston areas, as well as to support the organization’s staff and operations.
“Our resolve to close the racial wealth gap and advance the economic well-being of Black businesses and Black residents has never been stronger,” said Nicole Obi, President and CEO of BECMA. “This significant investment by The Rockefeller Foundation will afford us the ability to provide needed support, over a sustained period, to a community eager to fully engage in Massachusetts’ thriving economy. We are grateful to The Rockefeller Foundation for their commitment to BECMA, our mission, and the community we serve.”
“Studies show that it is minority-owned businesses — and more specifically Black-owned businesses — that are hiring people of color, providing fair wages, and offering benefits that sustain and strengthen families,” said Gregory Johnson, Managing Director of the Equity and Economic Opportunity initiative at The Rockefeller Foundation. “To support minority-owned businesses is to support minority communities, which is why we are proud to help BECMA advance their goal of providing minority entrepreneurs with business infrastructure.”
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About The Rockefeller Foundation
The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We work throughout the world to promote the well-being of humanity and make opportunity universal and sustainable. Our focus is on scaling renewable energy for all, stimulating economic mobility, and ensuring equitable access to healthy and nutritious food. For more information, sign up for our newsletter at rockefellerfoundation.org and follow us on Twitter @RockefellerFdn.
About BECMA
The mission of the Black Economic Council of Massachusetts, Inc. (BECMA) is to advance the economic well-being of Black businesses and organizations that serve the Black residents of Massachusetts through advocacy, strategic partnerships, and capital BECMA’s approach is based upon four key pillars for closing the MA racial wealth gap – Entrepreneurship, Ownership, Commerce, and Placement of more MA Black residents in decision-making roles and within the Commonwealth’s thriving growth economy. Learn more at www.becma.org
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