Wells Fargo today announced $250,000 in funding to The Enterprise Center to support revitalization efforts along the 52nd Street business corridor ahead of Philadelphia’s Juneteenth Parade & Festival. Dubbed “HOPE 2.0,” this latest investment is a continuation of Wells Fargo’s “HOPE, USA” initiative, which pledged more than $1 million in support for the 52nd Street corridor ahead of the 2021 holiday shopping season and encouraged residents to shop local in support of small businesses.
“Our small business owners and neighbors have come a long way since the onset of the pandemic and civil unrest in 2020, but we still have a long way to go to ensure economic prosperity for Black and Brown communities,” said Della Clark, President, The Enterprise Center. “This latest funding commitment shows Wells Fargo understands the need for ongoing investment in small businesses that anchor our communities, and I’m grateful for their continued partnership in West Philadelphia.”
The funding from Wells Fargo will be used for continued façade improvements and enhancements along the 52nd Street commercial corridor. This includes new signage, gates and doors, power washing and graffiti removal for a number of small businesses on the 300 block, as well as sidewalk repairs. New planters will be placed along the corridor, and street banners designed by local female-owned artist collective Hagopian Arts with the phrase “Never Lose Hope” will run from Market to Larchwood Street.
“It’s incredible for us to be back on 52nd Street, helping to spread even more hope along this dynamic and vital commercial corridor,” said Stephen Briggs, Vice President of Social Impact and Sustainability, Wells Fargo. “We know that these small businesses owners have endured an especially tough couple of years, and we’re committed to building on their hope and resiliency by providing resources that help their businesses thrive. This will in turn provide job opportunities for residents and ultimately strengthen our local communities, both here in Philadelphia and nationwide.”
The announcement was made in front of Cotton’s Place, one of the small businesses benefitting from the HOPE 2.0 initiative. The enhancements and beautification work are scheduled to be completed in advance of the Philadelphia Juneteenth Parade & Festival – one of the largest in the nation. All façade and street improvement work is being completed by locally-based minority contractors.
“52nd Street has been our home for more than 30 years, so I’m so glad to see this type of investment not only for our own business, but for the entire corridor,” said Lakita Scott, owner of Cotton’s Place. “Even though we’ve been around for quite some time, I can tell you small business owners have to constantly manage through new sets of challenges, whether they’ve been in business three years or three decades. So, I want to thank The Enterprise Center and Wells Fargo for continuing to support small businesses.”
Along with the beautification efforts, The Enterprise Center and Wells Fargo will also be onsite at the Juneteenth Parade & Festival providing resources to small business owners across the city via the nonprofit’s curbside business services specialty vehicle, “Biz on Wheels.”
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