via thegrio.com
Now that Barack Obama is out of the White House, he’s making a statement on support for Black businesses with a huge deal for the Obama Presidential Center.
The OPC is set to cost about $350 million, and an alliance of minority firms is set to get a large chunk of that. Powers & Sons Construction, UJAMAA Construction, Brown & Momen, and Safeway Construction, all part of the Presidential Partners consortium, have all come together as part of the Lakeside Alliance working on the presidential center, according to Black Enterprise.
The minority companies will be getting a 51% stake, while Turner Company, which is one of the nation’s largest construction companies, will have a 49% stake. It’s a historic move, not just because of the companies involved but because most minority firms will be hired on as subcontractors and not given majority stakes like this.
“The Obama Foundation believes in creating opportunities for diverse and local businesses and building pathways to meaningful jobs for minorities and other underrepresented populations,” said David Simas, CEO of the Obama Foundation.
“The development of the Obama Presidential Center gives us an opportunity to make a major, unprecedented impact on the South Side in terms of hiring talented, local businesses and individuals. We look forward to working with Lakeside Alliance to achieve our goals, set new benchmarks and make the Obama Presidential Center a landmark that our neighbors can be proud of.”
It’s a big win not just for the companies but the communities, because the alliance of minority companies has promised that they will be employing minority workers and people who live in the surrounding area for the massive project. That way, the companies will be giving back to the community and the presidential center will be a boon to Chicago’s South and West sides.
Ground will be broken for the project later on this year.
Posts tagged as “Obama Presidential Center”
by Alexia Elejalde-Ruiz via chicagotribune.com
Barack and Michelle Obama are donating $2 million toward two Chicago programs that provide summer jobs and apprenticeships, setting the stage for the coming Obama Presidential Center‘s mission to help employ and train South Side youth.
One Summer Chicago, which is the city’s summer jobs program, and the Chicagoland Workforce Funder Alliance, a collaboration of foundations and corporate funders focused on employment equity, each will receive $1 million from the Obamas. The former president made the donation announcement Wednesday when unveiling early design plans for the Obama Presidential Center, a complex with a museum, library and public park to be built over the next four years in South Shore’s Jackson Park.
While the center itself aims to boost employment in the community — through jobs, during construction, and once open, through youth-focused employment programming — “we can’t afford to wait four years to start working together,” Barack Obama told the audience at the South Shore Cultural Center.
He cited the city’s violence and the need to “reach young people who might be at risk if they don’t have something to do during the summers.””We want to make sure that some of those young people can get trained so people don’t say, ‘Why didn’t you hire anybody from the neighborhood?’ And the contractor says, ‘We didn’t have anybody who was trained.’ Well … let’s start the pipeline now, so that we can start getting some of those folks trained,” Obama said, according to excerpts of his remarks provided by his office.
To read more, go to: Obamas pledge $2 million for summer jobs, apprenticeships for Chicago youth – Chicago Tribune