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To commemorate Women’s History Month and ahead of International Women’s Day, investments and partnerships support women’s economic empowerment and equality through entrepreneurship
Stamford, CT, March 4, 2024–(BUSINESS WIRE)–Today, Philip Morris International (PMI) (NYSE: PM) announced a record $5 million investment in the Women’s Business Development Council to support the empowerment of women by increasing its U.S. business. announced the start of an expanded partnership through (WBDC) is her 501(c)(3) charity dedicated to providing tools and resources to help women entrepreneurs succeed in business throughout the state of Connecticut.
Starting in January 2025, in partnership with WBDC, PMI’s U.S. operations will participate in the Women’s Economic Empowerment Initiative (WEEI) for five years to help remove barriers to women’s full participation in Connecticut’s entrepreneurial ecosystem. It will contribute $1 million annually.
“Philip Morris International is committed to making a positive impact throughout our communities in Connecticut and beyond. Through our partnership with WBDC and our investments through the Women’s Economic Empowerment Initiative, our We will be able to better support Gov. Ned Lamont’s vision of positioning our state as a catalyst for women and the advancement of women. their family,” said Stacey Kennedy, PMI’s president of the Americas and CEO of its U.S. operations. “As the first multinational company to achieve the Global Equal Pay Certification, we believe that supporting the empowerment of women and ensuring economic equality is paramount to our collective economic growth. encourages other businesses to join our efforts to empower women across the state. We have chosen to: Lead in women’s empowerment and entrepreneurship and support the leadership of women across the state of Connecticut. We are proud to partner with WBDC because of their 27-year track record of advancing economic equity.”
Since 1997, WBDC has educated and trained more than 18,900 clients in all 169 towns in Connecticut, helped women start, maintain, and grow more than 14,170 businesses, and created and retained more than 31,400 jobs. We have helped clients access over $57 million in capital. This support from PMI ensures the continuation of the critical services provided by WBDC and allows WBDC to build a legacy that thousands of women entrepreneurs in Connecticut can rely on for years to come. .
Decades of research have shown that women’s full economic participation has significant benefits, including increased economic security for families and reduced poverty in their communities.The global economy could grow an additional 7%, or $10 trillion, by 2030 if policymakers prioritize investing in women’s economic empowerment, according to data from New York-based Eurasia Group.1. Through WEEI, PMI, and WBDC, Connecticut-based women have access to the education, training, resources, and capital they need to put themselves and their families on the right path to financial independence .
“This investment from PMI will allow us to continue our important work supporting economic independence through entrepreneurship for women in Connecticut,” said WBDC CEO Fran Pastore. “We are pleased that PMI has trusted us to leverage these funds and continue to help women access capital, education and resources to support themselves and foster employment in the state. In the past few years, the female population has increased by 275%. “The number of women who come to us looking to start or grow a business is so high, and it’s only with the support of businesses in our community like PMI that we If this were the case, this growth, and the growth expected in the future, would not be possible.”
“Investing in women entrepreneurs and women-led businesses is an investment in Connecticut’s future,” said Governor Ned Lamont. “From working to increase pay equity to creating paid family and medical leave programs to protecting health care services and expanding access to child care, we are working to ensure that women in the workforce not only stay in the workforce, but also become leaders. These are just a few of the reasons why Connecticut is one of the best states in the nation to live, work, and raise a family. ”
This historic partnership was announced at a press conference on Monday, March 4, 2024 at 10 a.m. EST at PMI headquarters in Stamford, CT (677 Washington Boulevard, 11th Floor Stamford, CT 06901). In attendance was Connecticut Governor Ned Lamont. U.S. Congressman Jim Himes. Lieutenant Governor Susan Bycevic. Stamford Mayor Caroline Simmons; Stacey Kennedy, President of the Americas and CEO of PMI’s U.S. operations Marian Salzman, Senior Vice President and Chief Corporate Citizenship Officer of PMI’s U.S. operations. Fran Pastore, her CEO of the Women’s Business Development Council;
1Eurasia group. (October 2023). Women’s economic power.
Philip Morris International, USA: Achieving a smoke-free future
Philip Morris International (PMI) is committed to a smoke-free future. Since 2008, PMI has invested $12.5 billion worldwide to develop, scientifically validate, and commercialize innovative cessation products for adults who continue to smoke, with the goal of completely eliminating the sale of cigarettes. I did. In 2022, PMI acquired Swedish Match, a leader in oral nicotine delivery, creating Global Smoking Cessation Champions, led by the companies’ IQOS and ZYN brands. The U.S. Food and Drug Administration has approved PMI’s IQOS Platform 1 device and consumables, and Swedish Match’s version of generic snus, as modified risk tobacco products. For more information, please visit www.pmi.com/us/ and www.pmiscience.com.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240304800265/ja/
contact address
philip morris international
travis perman
Phone +1 (475) 550-2737
E.travis.parman@pmi.com
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