Saturday, October 24, 2020
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Costco and Boeing invest millions to social justice initiatives

Costco and Boeing step in full support of underrepresented groups and invest millions of dollars to social justice initiatives.

We all have read about racial differences in the U.S. It shows us that to bring a change, we all need to unite and collectively support a social cause – a lesson we can seek from market leaders. Running business in the U.S. is to understand and consider racial obstacles, stand up for it, and preserve the communities’ culture and heritage. Looking at the racial oppression, two of the state’s greatest companies, Costco and Boeing, are investing tens of millions right into social justice initiatives.

Costco is investing $25 million to support the Local Initiatives Support Corporation’s (LISC), a new Black Economic Development Fund. Costco’s commitment guarantees to sustain Black-led banks and community development initiatives to allow companies to make financial investments mainly made to enhance financial possibilities for Black Americans.

We are thrilled to be a part of an investment strategy that will help some of the communities where we operate in the U.S. With LISC, and we are supporting a more inclusive economy, to break down race and class as barriers to opportunity and growth. – said Craig Jelinek, President, and CEO of Costco. 

Boeing announced $10.6 million in financial investments in almost two dozen nonprofits, and various other programs concentrated on “racial equity and social justice.” Amongst them is Seattle Children’s Odessa Brown Children’s Clinic, which will get $2.5 million to broaden healthcare accessibility for youngsters in Central and South Seattle.

Various other campaigns consist of improving the variety of Black Boeing workers in the U.S. by 20 percent to have their labor force reflect the regional markets where they function.

Boeing has given $120 million to support education in minority communities in the last five years. But the new $10.6 million investment reflects a new emphasis on digging deeply into confronting racism, and racial equity, CEO David Calhoun said in a message to employees.

Early responses to the protests on racism took place through social media messaging. These initiatives by companies suggest a much deeper, more financially purposeful reaction. Individuals representing black communities look ahead to the assistance of market players in the area to take such steps.

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