As part of its ongoing effort to expand equity and economic opportunity for low-wage families and communities of color across the country, The Rockefeller Foundation announced that Baltimore City will be part of The Rockefeller Opportunity Collective (ROC).
The ROC, launched in June, aims to catalyze public and private sector investment to promote more inclusive growth, both in the post-pandemic recovery and over the long term. The ROC Funds are being allocated to a collective of government, business, faith-based, and non-profit partners over several years.
“Baltimore’s small businesses are truly the heart of our city. With their unwavering support through the Covid-19 pandemic, and dedication to Baltimoreans across the city, I am excited that they will have the well-deserved support of The Rockefeller Foundation Opportunity Collective,” said Baltimore City Mayor Brandon Scott. “This opportunity is another step in the right direction to ensure that our businesses are developed and operated through a lens of equity, ensuring economic growth and equal opportunity for all in Baltimore City.”
According to a Baltimore City press release:
The $12 million commitment behind ROC and the additional grant funding is part of the Foundation’s comprehensive $65 million investment announced in February to help more than 10 million low-wage BIPOC workers and their families across the United States meet their basic needs and pursue a more prosperous future.
In addition to the selection of the final two ROC places, The Rockefeller Foundation funding in December also includes Atlanta, Boston, Chicago, El Paso, Miami-Dade County, Houston, Louisville, Newark, Norfolk, and Oakland. The Foundation is investing in partners, projects, and programs with the core goal of eliminating barriers to access capital and credit among low-wage workers and small businesses operated by women, Black, and Latinx owners.