BMO announces new $650,000 investment in Madison, Wisconsin

  • New donations everywhere Madison community supporting black-owned businesses and black entrepreneurs, expansion of black cultural programs and Boys & Girls Clubs career opportunities in skilled trades
  • BMO’s commitment to Madison now exceeds over 1 million dollars

MADISON, Wis, August 1, 2022 /PRNewswire/ – BMO Financial Group announced today a $650,000 investment in several Madison community programs and organizations. These contributions will support City League of Greater Madison’s Black Business Center, The Center for Black Achievement and Cultureand Boys and Girls Clubs of Dane County McKenzie Center for Workforce Development.

“Investments like these are at the heart of our goal to boldly grow the good.” in business and life,” said Anthony HudsonRegional President, Retail Banking, Wisconsin, BMO Financial Group. “We are delighted to be working with these great organizations to help make progress for Madison community. Today’s announcement, with these great partners, exemplifies our commitment to a thriving economy, sustainable future and inclusive society in the communities we serve.”

“We are proud to work with the Urban League, The Center for Black Excellence & Culture and the Boys & Girls Clubs to support the delivery of these important community programs. Along with the economic growth and prosperity achieved by the customers we serve, this financial commitment is a direct investment in the future of Madison economy,” said Jeff Ticknorsenior vice president and group marketing director, merchant banking, WisconsinBMO Financial Group.

BMO invests 250,000 dollars over five years in the City League of Greater Madison’s Black Business Center. The hub will serve as an entrepreneurial incubator for small businesses created by people of color. It will serve as an economic anchor, attracting resources to the area to create opportunities for business growth, employment and social development. The center will support 200 black-owned businesses and entrepreneurs, create or relocate more than 150 jobs and train black real estate developers.

“The City League of Greater Madison is extremely proud of the partnership we have with BMO in creating greater access to opportunity in the banking industry,” said Reuben L. Anthony, JrPh.D., President and CEO, Urban League of Greater Madison. “As we are on a mission to help build wealth for brown and black people in this community, BMO is right there with us, supporting initiatives like the development of the Black Business Hub. This project and partnership will create wealth for many generations.”

BMO is also committed 250,000 dollars over five years to the Center for Black Achievement and Culture. The center will be a state-of-the-art performing and visual arts center, cultural center, business innovation and co-working space under one roof. The center will provide Dane County is a place where talented black people build their careers, raise their families and contribute to the local economy. It will offer unique, multigenerational, interconnected programming to support the Black community and engage the entire Madison community.

“The Center for Black Achievement and Culture offers an exciting and important opportunity to create a cultural home for the black community in Madison. This important investment in the Center demonstrates BMO’s support in creating the Madison a community, a welcoming, culturally rich home where everyone has the opportunity to flourish. We are grateful for BMO’s leadership and commitment to the Center,” said Dr. Alex Gfounder of the Center for Black Achievement and Culture.

In addition, BMO’s contribution of 150,000 dollars over three years will help support the Boys and Girls Clubs of Dane County McKenzie Center for Workforce Development. The Development Center creates career pathways for individuals to obtain certifications or on-the-job training for skilled trades. The center will train and support interested youth to pursue careers as plumbers, carpenters, HVAC technicians, electricians and more. BMO’s investment will enable young adults to access resources, programming and support systems that will generate transformational change for families in South Central Wisconsin.

“We recently took the initiative to build a skilled trade center that will offer the youth in our community another path to success, and BMO was one of the first supporters to join our cause. Their team members help us build 35 million dollars youth workforce center by providing volunteers, funding and guidance to help us achieve this historic goal that will ultimately improve the labor shortages and racial disparities we see in our region,” said Michael JohnsonCEO, Boys & Girls Clubs of Dane County.

BMO has engaged more than 1 million dollars to Madison community. These investments are an integral part of BMO EMpowerBMO’s five-year, $5 billion commitment to address barriers facing minority businesses, communities and families.

About BMO Financial Group

Serving clients for 200 years and more, BMO is a highly diversified financial services provider – the 8th largest bank by assets in North America. With total assets of $1.04 trillion as of April 30, 2022 and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million clients and business activities through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

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SOURCE BMO Financial Group

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