Racial Equity Capital Fund will provide needed capital to help minority-owned businesses create jobs and expand in communities served by Exelon’s utilities
WIN’s organizing around their CARE - Corporate Accountability for Racial Equity campaign resulted in the recent announcement from Pepco/ Exelon introducing the creation of a $36 Million Racial Equity Capital Fund to support minority businesses in under-resourced communities. This is part of a larger agreement WIN negotiated with Pepco to increase access to local careers & raise wages of frontline workers and is already underway with commitment for 100 additional careers a year from DC communities with high unemployment, raising wages for all front line contractors to the prevailing wage (resulting in several job categories making nearly double what they were making).
Announcement on Twitter from the President and CEO of Pepco Holdings.
For details about the fund click here.