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.
John G. Morikis, President of the Foundation, and Chairman and Chief Executive Officer of The Sherwin-Williams Company (NYSE: SHW) said, “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.