Business news from the Ascentive team
President Bill Clinton announced the impact of the 2012 Clinton Global Initiative America (CGI America), a meeting dedicated to forging collaborative solutions to the United States’ most pressing economic challenges. This year, CGI America attendees, who include leaders from government, business, and nonprofit sectors, made more than 50 new commitments valued at more than $1 billion that will create 32,000 jobs and fill more than 500,000 vacant jobs in the United States.
“This year’s CGI America participants have formed creative partnerships and come up with inventive strategies to accelerate employment, start new businesses, and prepare Americans to take the jobs that are open in the new U.S. economy,” said President Clinton. “From nearly $176 million of new capital that will go to small or medium enterprises, to the nearly 150,000 students who will gain access to STEM education opportunities, this year’s meeting has demonstrated the important advances we can make when working together towards a shared prosperity.”
Throughout the meeting, attendees generated Commitments to Action: new, specific plans to address an economic challenge facing the United States, such as job creation, small business development, clean energy, STEM (science, technology, engineering, and math) education, housing recovery, and workforce development. Some of the commitments announced today will provide underserved young people with skills in digital media and construction, give women and minorities opportunities for entrepreneurship, and transform foreclosed properties into affordable housing.
When fully funded and implemented, the 58 new CGI America commitments aim to positively impact the lives of nearly 3.9 million Americans in the following ways:
- More than 32,000 jobs will be created, including 6,600 green jobs.
- More than 500,000 jobs will be filled by veterans and their family members.
- Nearly 68,000 people will receive improved access to capital or financial services.
- More than 117,000 people will benefit from access to job training and certification.
- Nearly 760 million kilowatt hours of energy will be saved.
- More than $84 million of new capital will be invested in green initiatives.
- More than 12,000 people will gain increased access to health services.
- More than $640 million of the total value of the new commitments will address housing recovery, including returning distressed single-family housing to productive use, retrofitting homes in 25 new cities, and developing affordable housing units for low-income individuals.
President Clinton concluded the two-day meeting by encouraging leaders to find ways to create an innovative and sustainable tomorrow. In the final session, “What’s Next? Towards a More Perfect Union,” Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development; Regina E. Dugan, senior vice president of Advanced Technology and Projects at Motorola Mobility; Duncan Niederauer, director and CEO of NYSE Euronext, Inc.; Atlanta Mayor Kasim Reed; Neil deGrasse Tyson, astrophysicist and director of Hayden Planetarium at the American Museum of Natural History; and Mark Vachon, vice president of Ecomagination at General Electric, spoke about the importance of STEM education, supporting American innovation, and the future of the American economy.
The second day of the CGI America meeting opened with the “Sustainable Finance” plenary session, where Donna Gambrell, director of the U.S. Department of the Treasury’s Community Development Financial Institutions Fund; Lisa Hall, president and CEO of Calvert Foundation; Ted Howard, executive director of the Democracy Collaborative; and Jim Koch, chair and founder of the Boston Beer Company, Inc., discussed sustainable access to capital to both grow existing businesses and finance new ventures.
Equal opportunity in employment and entrepreneurship was the topic of the second plenary session, “Pathways to Opportunity,” which featured Philadelphia Mayor Michael Nutter; Peter G. Peterson, chairman and CEO of the Peter G. Peterson Foundation; Chelsea Clinton, board member of the Clinton Global Initiative and William J. Clinton Foundation; John Hope Bryant, founder, chairman, and CEO of Operation HOPE, Inc.; Kyle McCollom, founder of Triple Thread Apparel; Ai-jen Poo, director of National Domestic Workers Alliance; Jerry Sue Thornton, president of Cuyahoga Community College; and Joan Walker, executive vice president of corporate relations at Allstate Insurance Company.
CGI America is sponsored by J.B. & M.K. Pritzker Family Foundation, Allstate Insurance Company, The Dow Chemical Company, ExxonMobil, The Joyce Foundation, The Peter G. Peterson Foundation, and APCO Worldwide.