Northern Virginia Community College (NOVA) and Bank of America today announced a new $1 million jobs initiative partnership to help students of color successfully complete the education and training necessary to enter the workforce and embark on a path to success in Northern Virginia and throughout the Commonwealth. This initiative builds on Bank of America’s ongoing work in Virginia to address the underlying issues facing individuals and communities of color who have been disproportionately impacted by the current health crisis.
“Bank of America looks forward to working with NOVA and other employers in the DMV to identify needed skills and help create economic opportunity and a path to employment for qualified, well-trained talent,” said Larry Di Rita, Bank of America's market president for Greater Washington D.C.
With the support from Bank of America, Northern Virginia Community College will develop new programs and enhance existing ones to meet specific skills gaps, creating higher paying, family-sustaining jobs that are in demand. Bank of America will work alongside employers in Northern Virginia and around the Commonwealth to ensure these programs target specific hiring needs and create a clearly defined career pathway to future employment.
“NOVA is honored to have received this important and impactful grant from Bank of America,” said Anne M. Kress, president of NOVA. “NOVA is committed to ensuring that every student achieves and every community prospers, and with this investment, we will connect even more students to in-demand workforce pathways that lead to meaningful, sustaining careers, ensuring that the full diversity of our community is supported with the resources they need to achieve. We thank Bank of America for this grant and for their dedication to closing income and opportunity gaps.”
So far in 2020, Bank of America has provided more than $3 million in job-initiative grants to nonprofits that are connecting individuals to skills and employment in Northern Virginia and Greater Washington, D.C. Of that total, 90% has been donated to organizations led by people of color or which predominantly serve people of color.
In September 2020, Bank of America began a strategic jobs-initiative partnership with the Virginia Ready Initiative which seeks to re-skill Virginians for in-demand employment through training assistance and credential achievement awards. Currently, more than 100 scholars across the Northern Virginia region and more than 500 across the Commonwealth are being re-trained for the workforce through VA Ready. The top three credentials include Medical Assistant, CompTIA A+, and certified Billing and Coding.
These initiatives are part of the bank’s recent $1 billion, four-year commitment to advance racial equality and economic opportunity, and its $25 million commitment to enhance up-skilling and reskilling for Black/African American and Hispanic-Latino individuals.
“While it was easier for jobseekers to secure employment in our pre-COVID economy, it still wasn’t ‘easy’; many people, especially those in communities of colors, struggled to find sustainable jobs due to the disconnect between education and industry,” said Caren Merrick, CEO of VA Ready. “We are so grateful to Bank of America for not only helping make the future workforce more accessible, but helping Virginians whose employment has been disrupted by COVID-19 gain new skills and brighter future through better, more resilient jobs and career paths.”
Focused on advancing economic mobility, Bank of America also recently announced:
- Seven Completed Equity Investments in Minority Depository Institutions and Community Development Financial Institution Banks
- $2 Billion Equality Progress Sustainability Bond
- Universal ESG Reporting; International Business Council of World Economic Forum
- Recognition as Top Global Bank on Fortune’s “Change the World” List
- $300 Million of Its $1 Billion, Four-Year Commitment to Advance Racial Equality and Economic Opportunity
- Support of Boys & Girls Clubs of America With $1 Million Grant to Support Educational Programs
- $1 Billion/4-Year Commitment to Support Economic Opportunity Initiatives
- $250 Million in Capital and $10 Million in Philanthropic Grants to Community Development Financial Institutions (CDFIs)
About Bank of America
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).
Andy Aldridge, Bank of America
Hoang Nguyen, Northern Virginia Community College
Northern Virginia Community College is the largest institution of higher education in the Commonwealth of Virginia and one of America's largest community colleges. NOVA enrolls more than 75,000 students at its six campuses in Alexandria, Annandale, Loudoun, Manassas, Springfield and Woodbridge, and through NOVA Online. For more information about NOVA and its programs or services, call 703-323-3000 or visit the College's Web site, www.nvcc.edu.