KeyBank and JumpStart Inc. have entered into a new partnership designed to create jobs in Ohio and the surrounding regions, according to a recent press release.
JumpStart is a nonprofit dedicated to supporting entrepreneurs and startups. The KeyBank Foundation awarded a $24 million grant to the organization to create the KeyBank Business Boost & Build Program, a joint initiative between the two entities that will work to drive economic and employment growth through small business development in Ohio and upstate New York.
"KeyBank's purpose is to help clients and communities thrive. We are committed to being both a responsible bank and a responsible citizen," said KeyBank CEO Beth Mooney. "We accomplish this by improving access to education and career opportunities, lifting neighborhoods up, fostering innovation, creating pathways to home and business ownership, and encouraging community engagement, diversity and inclusion. While KeyBank and JumpStart have been longstanding partners, this expansion is purpose in action."
The initiative will support 4,300 small businesses in Ohio and 1,200 in New York, many of which are tech organizations, the Cleveland Plain Dealer reported, citing statements made by a KeyBank representative.
The grant represent the largest philanthropic gift the KeyBank Foundation has ever made.