Wells Fargo invests $370,000 in Central Valley job creation

October 19, 2017

 

Business Journal Staff

Thirteen Central Valley nonprofit workforce development organizations are benefitting from an investment grant via Wells Fargo and Company.

One of those organizations is the Valley Sierra Small Business Development Center, a branch of Opportunity Stanislaus, formerly known as the Stanislaus Business Alliance. The nonprofit will receive $25,000 from Wells Fargo. That money will go toward serving rural clients in 2018.

“The Valley Sierra SBDC is proud to be among those awarded. The funds will be utilized to more fully serve our rural clients in Stanislaus and Merced counties,” said Kurt Clark, director of the Valley Sierra SBDC. “This is part of our overall mission to provide all local small businesses, regardless of location, with high-quality resources and tools that allow them to start and grow their operations. We appreciate the generosity of all of our funders and Wells Fargo is certainly a longstanding champion of our organization.”

The investment funds will be used to focus on workforce development and job creation programs, services such as career counseling, job training or re-training and self-employment technical assistance.

According to Wells Fargo, small business owners will benefit from business and farming technical assistance, access to capital, training for business expansion and microloan programs.

A total $2.3 million in grant funding is being dispersed by the bank throughout California, Alaska, Washington and Oregon as part of its Economic Opportunity Grants program. In addition to the 13 Central Valley nonprofits, 60 others were awarded funds.

Communities that were selected as part of the program were shown to have the highest levels of unemployment according to the U.S. Bureau of Labor Statistics.

Other organizations to benefit from the investment are located in Fresno, Merced and Kern counties.

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