BMO announces $650,000 investment in Madison, Wisconsin community
This week, BMO announced a $650,000 investment in several Madison, Wisconsin community programs and organizations. In an effort to close the wealth and entrepreneurial gap and encourage long-term advancement, the contributions will support the Urban League of Greater Madison’s Black Business Hub, the Center for Black Excellence and Culture and the Boys & Girls Club of Dane County’s McKenzie Workforce Development Center.
“Investments like these are at the core of our Purpose to Boldly Grow the Good in business and life,” said Anthony Hudson, Regional President, Retail Banking, Wisconsin, BMO Financial Group and board member for the Urban League of Greater Madison and Boys & Girls Club of Dane County. “We are pleased to work with these great organizations to help make progress for the Madison community. Today’s announcement, with these tremendous partners, exemplifies our commitment for a thriving economy, sustainable future, and inclusive society throughout the communities we serve.”
BMO is investing $250,000 over 5 years to the Urban League of Greater Madison’s Black Business Hub. The Hub will serve as an entrepreneurial incubator for small businesses owned by people of color. The Hub will support over 200 Black-owned businesses, create over 150 jobs and provide a space for entrepreneurs to network and grow their businesses.
BMO is also investing $250,000 over 5 years to the Center for Black Excellence & Culture. Founded by Rev. Dr. Alex Gee and branded as the Black Renaissance for the south side of Madison, the Center will be a state-of-the-art performing and visual arts center, cultural center, business innovation and co-working space. The Center will embody culture, feature art shows and give access to meeting spaces to help Black people build their careers, raise their families and contribute to their economy.
Over the course of 3 years, the Boys & Girls Club of Dane County will receive an $150,000 investment for its McKenzie Workforce Development Center. The $35 million facility for youth workforce development will prepare and educate adolescents that want to pursue careers as plumbers, carpenters, HVAC technicians, electricians and more. BMO’s investment will allow young adults to access resources, programming, and support systems.
In total, the bank has invested over $1 million in the Madison and surrounding Wisconsin areas. These investments are part of BMO EMpower, our 5-year, $5 billion commitment to address barriers faced by minority businesses, communities and families.