Bank of America Awards $280,000 to East Bay Nonprofits for Workforce Development Programs

As part of its partnership with the East Bay Economic Development Alliance, the Bank of America Charitable Foundation today announced it has awarded $280,000 in grants to eight East Bay nonprofit organizations to support local workforce development efforts through the East Bay Community Foundation’s Workforce Development Fund, which supports projects and programs creating employment opportunities for low- and moderate-income individuals and for individuals with significant barriers to employment.

The grants, ranging from $15,000 to $50,000, were awarded to: Cypress Mandela Training Center Training and Employment Services; East Oakland Youth Development Center (EOYDC) Project JOY (Job Opportunities for Youth); Goodwill Industries of the Greater East Bay Workforce Development and Work Experience Services; Inner City Advisors Business Growth Strategies; Oakland Citizens Committee for Urban Renewal (OCCUR) Eastmont Technology Center; Oakland Unified School District Linked Learning Career Academies; Rubicon Programs Economic Empowerment and Social Enterprise Programs and Youth Uprising Career and Education Services.

“Bank of America is committed to strengthening local economies through workforce development, which leads to financial independence and personal growth that ultimately benefits the economic health of a community,” said Martin Richards, Bay Area market president, Bank of America. “With leadership from the East Bay Economic Development Alliance and the East Bay Community Foundation’s Workforce Development Fund, these nonprofits fill a critical need by providing career skills to an eager workforce and, eventually, connecting skilled workers with hiring employers."

“We appreciate Bank of America’s contribution aimed at creating job opportunities for those most in need in the East Bay,” said Darien Louie, director of Public and Private Partnerships at the East Bay Community Foundation.

The grants were announced at the conference “Revitalizing Prosperity: Economic Development and Job Creation in the East Bay,” where the East Bay EDA released a report, Building on Our Assets: Economic Development and Job Creation in the East Bay, sponsored in part by Bank of America. The report recommends education and workforce development as top economic priorities, and examines the region’s challenge of addressing the growing demand for skilled workers. The availability of a skilled workforce is one of the East Bay’s major competitive advantages in attracting new investments and business expansion in the region.

“Although the recession has taken a heavy toll on East Bay jobs and recovery is currently limited, the report shows why the region is poised to return to prosperity in the long term across a variety of industry sectors,” said Karen Engel, executive director of the East Bay EDA.

Bank of America’s focus on workforce development includes education initiatives leading to economic self-sufficiency through employment, and programs that connect the underserved, unemployed, returning veterans and individuals with disabilities to workforce success in high-growth sectors. These efforts are part of Bank of America's comprehensive lending, investing and volunteer activities aimed at strengthening the economic and social health of communities by recognizing the need for knowledgeable and skilled workers to compete in the global economy.

Last year, the Bank of America Charitable Foundation provided more than $1 million in grants to East Bay nonprofits, and bank associates volunteered more than 17,000 hours for community service in the East Bay.

The Bank of America Charitable Foundation accepts grant applications for nonprofits serving the East Bay whose missions primarily focus on issues affecting the working poor to help provide a positive pathway to economic self-sufficiency, such as: affordable housing and housing retention, financial education, and workforce development.

Applications for grants are submitted online at www.bankofamerica.com/foundation.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,750 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

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