[GRRN] Sustainable Jobs Fund wins $450K grant!

David A. Kirkpatrick (david@kirkworks.com)
Thu, 29 Apr 1999 05:48:15 -0700 (PDT)

Sustainable Jobs Fund awarded $450,000 grant
from the First Union Regional Foundation


David Kirkpatrick, 919/220-8065
Will Ferretti, 703/683-9025 x201

9 AM EDT, April 29, 1999

Durham, N.C.

The Sustainable Jobs Corporation (SJC) and the National Recycling Coalition
(NRC) announced today that a three-year, $450,000 grant has been awarded by
the First Union Regional Foundation to implement the Sustainable Jobs Fund
(SJF) in eastern Pennsylvania, New Jersey and Delaware. SJF is a new
community development venture capital fund that invests in growing
recycling, remanufacturing and environmental companies that create quality
jobs in economically distressed communities in the Eastern U.S.

"We are thrilled with this vote of support from the foundation," said David
Kirkpatrick, President of SJC. "This grant will allow us to do identify,
finance and assist many more companies to expand inner city employment
throughout the Delaware Valley region."

"The First Union Regional Foundation's multi-year grant provides essential
ongoing operating support for us to stimulate new economic opportunity
through profitable growth of recycling and other manufacturing ventures,"
noted Will Ferretti, Executive Director of NRC. "This award builds on the
earlier implementation grants for SJF totaling $165,000 from the Citicorp,
Z. Smith Reynolds and Turner Foundations and the CDFI Fund."

Major financial institutions, insurance companies, foundations, and other
socially responsible investors are considering or have made investment
commitments to the Sustainable Jobs Fund, LP. SJF is also in the final
round for a $2.25 million award from the CDFI Fund of the U.S. Treasury
Department. Fund closing is planned for May 1999. ###
Sustainable Jobs Fund
capital for job creation
in neighborhoods that need it
Address: Post Office Box 15909
Durham, NC 27704 USA
Voice: 919/220-8065
Fax: 919/220-9720
Email: david@kirkworks.com
Webpage: http://www.kirkworks.com/sjf.htm