VP Harris visits Brooklyn, announces multibillion-dollar investment to underserved communities
Vice President Kamala Harris visited Brooklyn today and announced tens of billions of dollars the Biden administration plans to invest into underserved communities.
This investment is part of the launch for the Economic Opportunity Coalition, aimed at helping existing and new businesses get the resources and funding they need.
The goal of this coalition is to align public and private investments for underserved communities, financial institutions and small businesses.
Harris toured the Bed-Stuy Restoration Plaza, discussing what benefits communities across the country can expect.
The coalition consists of 21 corporations - including Google, Mastercard and PayPal - and three foundations.
One of the corporations involved, “Next Street,” says it is making sure the major investments made reach communities of color.
“The tens of billions of dollars committed by corporations, that has never happened before in the United States,” said Michael Roth, managing partner at Next Street. “The hundreds of billions of dollars committed by the Biden-Harris administration...that has never happened before."
"When we create opportunities in communities that have been left out and left behind, our entire nation benefits. We all do better as a nation when all our communities do better,” said Vice President Harris.
Mayor Eric Adams, Brooklyn Borough President Antonio Reynoso, and Bronx Borough President Vanessa Gibson were all in attendance.