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KeyBank Foundation gives $24M to JumpStart

KeyCorp.’s KeyBank Foundation has awarded JumpStart Inc. a $24 million grant to  support the KeyBank Business Boost & Build Program in its Ohio and New York markets, officials said Monday.

The gift is the single largest philanthropic commitment of the KeyBank Foundation.

“Very simply, the KeyBank Foundation is focused on people and neighborhoods. The size and scope of the KeyBank Business Boost & Build Program shows just how committed we are to the future of our communities,” said Margot Copeland, CEO and chairman of the KeyBank Foundation, in a statement. “Together, we will work to economically transform neighborhoods across Ohio and New York from the ground up.”

Ohio-based JumpStart is a nonprofit focused on helping entrepreneurs succeed.

“KeyBank’s purpose is to help clients and communities thrive. We are committed to being both a responsible bank and a responsible citizen,” said Beth Mooney, CEO of KeyBank in a statement. “We accomplish this by improving access to education and career opportunities, lifting neighborhoods up, fostering innovation, creating pathways to home and business ownership, and encouraging community engagement, diversity, and inclusion. While KeyBank and JumpStart have been long-standing partners, this expansion is purpose in action.”

The program will provide support and structure for individuals, entrepreneurs and small-business owners, create thousands of jobs and prepare students for careers in the growing technology, service and manufacturing industries, officials said.

The initiative has specific metrics including:

  • Accelerate the growth of more than 2,500 small businesses and micro-enterprises – the majority of which will be women or minority-owned businesses;
  • Accelerate the growth of more than 2,000 tech startup and scale up companies;
  • Create a minimum of 5,350 jobs;
  • Provide support for participation in the tech economy by meeting business needs or enabling workforce training for 1,000 individuals;
  • Connect 800 individuals to open job opportunities; and
  • Prepare more than 1,000 students to enter the workforce after graduating high school.

“This expanded partnership with KeyBank, whose long support of our work has already helped hundreds of diverse entrepreneurs grow their small businesses and create thousands of jobs, will dramatically increase the impact of entrepreneurs and small businesses on neighborhoods and communities,” said Ray Leach, CEO of JumpStart

Follow Kerry Feltner on Twitter: @KerryFeltner

(c) 2017 Rochester Business Journal. To obtain permission to reprint this article, call 585-363-7269 or email [email protected].

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