New York’s electric cooperatives will be a focal point of a Rockefeller Foundation initiative that seeks to bring more green jobs to the United States.
The Rockefeller Foundation announced Wednesday that it would invest $2 billion in 100 green-oriented cooperatives in New York State, providing them with $2,000 grants for every $1 invested.
The partnership between the Rockefeller Foundation and the New York City-based Green Worker Cooperatives (GWCC) will focus on supporting workers and small businesses in the areas of finance, technology, and business development.
The fund will also support the creation of partnerships that will allow workers to take ownership of their own businesses, as well as other business models that benefit the environment.GWCC founder and CEO, John Garvey, said that while the funds will be used to provide funding to green businesses, they will also help companies that want to be part of the green economy.
“It’s going to be a win-win for all parties involved, including the cooperatives,” he said.
The initiative, which is being spearheaded by the Rockefeller Center and the Rockefeller Institute, will target cooperatives across the country.
The foundation is aiming to invest $3.6 billion in green companies over the next two decades, and aims to help make the country a green economy by creating jobs and expanding economic opportunity for all Americans.
“Green jobs are the key to unlocking the economic potential of the American worker and creating more opportunities for all people, particularly for those who are not in the middle class, and whose economic prospects have been severely impacted by the recession,” said Rockefeller Center Director of the Rockefeller Family Fund, Paul G. Ryan.
“We can’t continue to turn our backs on this vital workforce development opportunity.”
The Rockefeller Institute will invest $1 billion in more than 80 new cooperatives to create new green jobs.
The fund also plans to expand the work of the National Alliance of Small Businesses, a nationwide network of about 300,000 businesses, to provide support to cooperatives.
The organization has pledged $50 million over the coming years for cooperatives that are part of its National Alliance for Small Business, which aims to provide small business owners with access to the skills and resources needed to succeed in the 21st century.