03 Oct — JPMorganChase Commits $500,000 to OIC of South Florida and Urban League of Broward County to Expand Economic Mobility Opportunities for Underserved Communities
Investment will expand vocational skills training programs
Fort Lauderdale, Florida, October 3, 2024 — OIC of South Florida and the Urban League of Broward County announced today that JPMorganChase has committed $500,000 to expand vocational skills training for underserved communities in South Florida. Aligning with the company’s Advancing Black Pathways initiative, the funding aims to empower and uplift historically underserved and under-resourced communities in South Florida.
JPMorganChase’s investment is a supplement to funding already awarded through other public and private sources. The investment will strengthen and expand training programs offered by OIC of South Florida and the Urban League of Broward County, focusing on industry-recognized credentials and preparing participants for family-sustaining careers. By expanding training opportunities to serve an additional 80 to 100 individuals, the funds will enable both organizations to meet growing demand in a post-COVID environment where the cost of living in South Florida has skyrocketed.
The funding will also modernize training delivery through improved learning and career assessments, integrated into personalized career plans. Both organizations will collaborate with qualified trainers and industry experts to align curricula with employer needs, ensuring that participants gain relevant skills for today’s labor market. The initiative includes a dual focus on hard and soft skills training, combined with wrap-around supportive services, to boost training completion rates and improve employment outcomes, especially for the vulnerable populations within the community. Additionally, vocational training like digital literacy, employability skills, IT and trades will be paired with financial literacy education, empowering participants to manage their finances effectively and maximize their earnings.
According to the Urban League of Broward County’s most recent State of Black Broward and State of Hispanic & Immigrant Broward reports, the median household income of Black/African Americans in Broward County is only 71% of White households. For Hispanic/Latino households, the gap is 87%. The 2022 Advancing Workforce Equity report released by Florida International University found Black workers and Hispanic women earn the lowest median wages at just $16 per hour with White men earning the highest at $27 per hour, a 69% pay gap. The research suggests eliminating these racial wage gaps could boost the region’s economy by some $122 billion per year.
“As someone who did not receive a four-year degree, I know that having a fulfilling and stable career is possible without it – with the right support and help,” said George Acevedo, Divisional Director of Consumer Banking, at Chase. “By expanding access to vocational skills training to more communities in South Florida, we can help ensure that more people can not only get jobs, they can build sustainable, fulfilling careers. This leads to greater economic mobility for the participants and for the community as a whole.”
This initiative harnesses the experience and expertise of three prominent, nationally recognized — and locally galvanized — institutions within South Florida:
- OIC of South Florida is an affiliate member of the OIC of America network founded in 1964 by the late Rev. Dr. Leon H. Sullivan, a prominent civil rights leader. OIC of South Florida continues his legacy of delivering meaningful workforce development skills and valuable training programs with industry-recognized certifications to low-to-moderate income populations across Broward and Miami-Dade Counties. OIC of South Florida serves nearly 10,000 youth and adults annually.
- Urban League of Broward County (ULBC) is an affiliate member of the National Urban League. ULBC empowers nearly 14,000 individuals annually through affordable housing initiatives, youth development and diversion, employment and training, entrepreneurship, health, and civic engagement. Between 2021 and 2023, ULBC engaged over 2,000 families, empowering them to close the digital divide, earn certifications, enhance financial education and access essential workforce training.
- JPMorganChase is a global financial institution that has been serving customers and businesses in Florida for more than 130 years. In South Florida, Chase’s 2,800 employees, 175 branches and more than 600 ATMs serve more than 344,000 small businesses and 2.2 million consumers. The firm has committed more than $46 million in philanthropic contributions in South Florida from 2019 to 2023.
“This project leverages our individual and collective experience and expertise and creates expanded opportunities for greater reach and impact across South Florida. This will result in better economic mobility for local residents, especially those in historically underserved and underrepresented communities,” said Newton Sanon, CEO and President at OIC of South Florida. “We will harness existing resources and our knowledge of the local community to offer industry and client-relevant trainings that lead to meaningful careers with family-sustaining wages, benefits and opportunities for growth.”
“We’re honored to work with JPMorganChase and OIC of South Florida on this initiative,” said Germaine Smith-Baugh, Ed.D, president and CEO of the Urban League of Broward County. “This grant will allow us to advance our mission of ensuring families have equitable access to resources that build wealth and strengthen their resiliency. We are grateful for the opportunity to make a meaningful impact alongside these respected organizations.”
OIC of South Florida will again convene a diverse group of workforce and economic development professionals, policymakers, educators, employers and community stakeholders for the 2024 Middle Class Summit, October 2-3, 2024, at the Seminole Hard Rock Hotel & Casino in Hollywood, Florida. For more information about the Middle Class Summit, visit https://www.middleclasssummit.com.
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OIC of South Florida Media Contact:
Vicki Timiney
Director of Marketing, Communications and Community Engagement
OIC of South Florida
(954) 368-5605
vtiminey@oicsfl.org
Urban League of Broward County Media Contact:
Alica Brown
Senior Vice President of Philanthropy & Communications
(954) 625-2544
abrown@ulbcfl.org
JPMorganChase Media Contact:
Allison Reed
Southeast Regional Media Relations
Allison.Reed@jpmchase.com
About OIC of South Florida
OIC of South Florida is a community-based, non-profit organization that provides quality education and job training for individuals in Broward and Miami-Dade Counties who are looking to enter or advance in the workforce. With a focus on skill development, career placement and economic empowerment, OIC of South Florida serves more than 8,000 youth and adults annually, positively impacting South Florida communities for nearly 25 years. Follow OIC of South Florida on social media.
About Urban League of Broward County
The Urban League of Broward County is a civil rights organization dedicated to empowering communities and changing lives in the areas of education, economic empowerment, health, and civic engagement. With a rich history of advocacy, the Urban League of Broward County continues to be a beacon of hope and progress in the region. Follow the Urban League of Broward County on social media.