Sherwin-Williams Foundation Partners With ULGC To Assist Minority-Owned Businesses
Cleveland, OH /PRNewswire/ -- The Sherwin-Williams
Foundation has partnered with The Urban League of Greater Cleveland
(ULGC) to develop and launch an innovative new Construction Accelerator
Program (CAP) with the goal of driving long-term growth and success for
Northeast Ohio minority-owned businesses.
"The Sherwin-Williams Foundation is pleased to partner with the
Urban League of Greater Cleveland to positively impact the greater
Cleveland community and support minority-owned business growth through
fostering economic inclusion for minority-owned construction companies,"
said John G. Morikis, President of the Foundation, and Chairman and
Chief Executive Officer of The Sherwin-Williams Company (NYSE: SHW).
"The CAP aligns well with our Company's commitment to create jobs and to
positively impact the broader Cleveland and Northeast Ohio community,
and we are excited to be on the ground floor of an instrumental program
designed to accelerate the growth of minority-owned construction
businesses for many years to come."
Over the next three years, Sherwin-Williams, a global leader in
the paint and coatings industry, will make a significant financial
commitment by investing a minimum of $600 million in its Building Our
Future (BOF) global headquarters and R&D Center project, which
includes meeting or exceeding robust economic inclusion requirements.
Through the pilot program, officially known as Construction
Accelerator Program Powered by Sherwin-Williams, the Urban League will
provide eligible minority-owned businesses with access to capital,
mentorship, education on the Integrated Project Delivery (IPD) process,
construction management best practices and an opportunity to build
capacity. The program will also focus on intense technical and human
capital enhancement, enabling participating businesses to qualify for a
working capital loan through UBIZ Venture Capital operated through the
Urban League's Entrepreneurship Center.
"The Urban League is extremely excited to partner with The
Sherwin-Williams Foundation on the Construction Accelerator Program
because it directly supports our goals of economic inclusion and opens
opportunities and access that will help reduce historical barriers that
minority-owned businesses experience in the construction industry and
across the board," said Marsha Mockabee, ULGC President and Chief
The Construction Accelerator Program is targeting MBE-certified
businesses in the construction industry who are in the growth or
expansion phase, in business for at least three years, and meet a
pre-determined minimum annual revenue threshold, in addition to other
Participating business owners will move through ULGC's UBIZ
Accelerator Curriculum, helping to transform their business
infrastructure and operations for success and sustainable growth. Upon
completion of the program curriculum, graduates of the CAP program will
be eligible to apply for the Access to Capital and Credit Enhancement
Plan, a working capital loan through UBIZ Venture Capital or its
"Cleveland needs programs that ensure opportunities for
employment of its residents, as well as growth opportunities for its
minority and female-owned enterprises," commented Tyson Mitchell,
recently named Director of the Office of Equal Opportunity (OEO) for the
City of Cleveland. "We commend The Sherwin-Williams Foundation and ULGC
for joining forces to establish this new program. Their joint
initiative is strongly aligned with the City and the OEO's mission, and
we're encouraged by the workforce pipeline the CAP creates for projects
today and into the future."
The CAP is designed to incorporate strategies that will
strengthen, accelerate and position businesses for next-level engagement
in construction projects.
For CAP registration information, prospective applicants should email UBIZVentures@ulcleveland.org.
Details about the Building Our Future project including the Company's commitment to inclusion, diversity and equity as well as its community engagement process and the Our Community video profiles can be found on the Building Our Future website.
For more information about the Urban League of Greater Cleveland, visit ulcleveland.org.
The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of coatings and related products to professional, industrial, commercial, and retail customers. For more information, visit www.sherwin-williams.com.