Clinton Opens CGI America, the First Event Focused on Creating Jobs and Driving Economic Growth in the U.S.
Press release from the issuing company
Friday, July 1st, 2011
Today, PresidentBill Clintonopened CGI America, hosting a plenary session on job creation and announcing new programs that will help foster economic growth in the U.S.
Speaking to more than 700 leaders from businesses, nonprofits, and government at the opening session, President Clinton announced three "Commitments to Action" that will be implemented by CGI America participants. These commitments, presented byKiva, Visa, Onshore Technology Services, and the AFL-CIO, will expand access to microfinance, train workers, and fund infrastructure development.
"When these commitments are fully funded and implemented, 140,000 people will receive access to job training, 1,000 information technology jobs will be created in rural America, and$3.5 millionwill be loaned to small businesses in the U.S.," President Clinton said. "Initiatives like these prove that organizations and individuals around the country have the power to take action to spur economic growth."
CGI America is the first Clinton Global Initiative (CGI) meeting focused exclusively on the U.S. The purpose of the event is to develop new ideas for spurring economic growth and to highlight existing programs that can be replicated and scaled.
At today's opening session, after remarks byRahm Emanuel, mayor ofChicago, President Clinton led a discussion withHaley Barbour, governor ofMississippi;Simonida Cvejic, founder and CEO of the Bay Area Medical Academy;Peter G. Peterson, founder and chairman of the Peter G. Peterson Foundation; andMichael Thurmond, formerGeorgialabor commissioner.
The opening session was followed by meetings of 10 working groups: Green Buildings, the Healthcare Workforce, Infrastructure, Manufacturing, Rural Renewal, Service Corps, Startups, STEM (Science, Technology, Engineering, and Math) Education, Veteran Employment, and Workforce Development. Each working group will convene three times today and Thursday in order to develop ideas and generate new commitments.
At4 p.m. Central Timetoday, President Clinton will host a plenary session on education. The panel will featureStephanie A. Burns,chairmanof Dow Corning Corporation;Adam Davidson,co-founder and co-host of National Public Radio's Planet Money;James Heckman,University of Chicagoeconomics professor;Kaya Henderson,D.C. Public Schools chancellor;Roger W. Ferguson, Jr.,president and CEO of TIAA-CREF; andAmy Rosen,president and CEO of theNetwork for Teaching Entrepreneurship.
The following commitments were announced in the opening plenary session:
Visa andKiva
Visa andKivacommitted to launch theKivaCity initiative. Seeded with a$1 millioncontribution from Visa,KivaCity will engage local civic leaders, community organizations, and financial institutions to identify small businesses in need and to helpKivaadminister and fund microloans. Today,Kivalaunched its firstKivaCity inDetroit. Over the next two years, this commitment will roll out in other American cities and aims to generate a total of$3.5 millionin loans.
Onshore Technology Services
Onshore Technology Services committed to create 1,000 jobs over five years in ruralMissouri, including the town ofJoplin, which was recently hit by a devastating tornado that destroyed thousands of jobs. Onshore, which trains unemployed and dislocated workers to be information technologists, will present theJoplininitiative to its existing and prospective clients as a double bottom line investment opportunity to help healJoplinwhile reducing their domestic IT sourcing costs by 25-35%.
AFL-CIO
The American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) committed to encourage both workers' capital and skilled labor to contribute to large-scale investments in the reconstruction of America's built environment. To achieve this goal, the AFL-CIO will support efforts by a wide range of money managers, asset consultants, pension funds, developers, and federal, state and local governments to finance the construction and repair of quality public infrastructure. The AFL-CIO believes these efforts will result in at least$10 billionin workers' capital invested in this area within five years. The AFL-CIO will also work with existing real estate-focused investment funds to invest between$10 million and $20 millionof additional capital in energy efficient retrofits of commercial, industrial, institutional, and public buildings.