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Starbucks Creates $100 Million Fund to Support Minority Development Projects

Starbucks announced that it's committing $100 million by 2025 to launch the Starbucks Community Resilience Fund, which is focused on supporting small businesses and development projects in Black, Indigenous, and People of Color communities.

The fund will partner with community leaders and Community Development Finance Institutions (CDFI) to advance racial equity and address the impact of climate change in neighborhoods with historically limited capital. The initial focus areas are Atlanta, Detroit, Houston, Los Angeles, Miami, Minneapolis, New Orleans, New York City, Philadelphia, San Francisco Bay Area, Seattle, and Washington D.C.

“Starbucks has always been a company focused on caring for our partners, creating experiences for our customers and playing a positive role in our communities and throughout society,” CEO Kevin Johnson said in a statement. “We are excited to make this investment as it aligns with our Mission and Values and supports our aspiration to advance equity and opportunity in the communities we serve.”

Read more from QSR here>>>