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April 05, 2016

Baltimore Firms to Invest $69 Million to Juice Local Economy

Some two dozen Baltimore-area businesses and institutions committed Monday to inject $69 million into the city's economy as it rebuilds from rioting last April, The Wall Street Journal and The Washington Post write. The effort, dubbed BLocal, was marshaled by Johns Hopkins University in the aftermath of the unrest that broke out in Baltimore over the death of a young African-American man in police custody.

Johns Hopkins, the city's largest private institution, and corporate participants pledged to step up efforts to build, hire, and buy locally and improve job opportunities for disadvantaged youths. The three-year financial commitment includes $53 million in construction and renovation work and $16 million in purchasing from minority- and women-owned businesses.

Read a Chronicle of Philanthropy article about grant makers' and charities responses' to the Baltimore riots.