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The grant funds the creation of the African-American Supplier Engagement Collaboration, a consortium whose members include the National Black Business Council, the California Black Chamber of Commerce and the Black Business Association.
"The consortium will further strengthen Verizon's relationship with businesses owned by African-Americans," said Tim McCallion, Verizon's West region president. "The program will create new opportunities for California corporations to develop enduring partnerships with African-American-owned companies, based on a solid value proposition for all involved."
The initiatives of the African-American Supplier Engagement Collaboration include:
"This strategic partnership between several powerful African-American
trade associations broadens access to performance-based inclusion contracts
and promotes the growth of sustainable jobs and wealth," said
Verizon announced the grant Tuesday at a ceremony at the California
African-American History Museum, where speakers included California Public
Utilities Commissioner
Price said: "The fundamental duty of government is to provide a broad range of services for the people, and public resources are not always adequate. It is imperative that we rely on private businesses to be substantive partners on projects that support the public good.
"This is especially important where small businesses are concerned, as their growth and success is paramount for the state's success; while the small business is providing a much-needed service to the public, the state is serving the public good by supporting small businesses."
The grant continues Verizon's longstanding commitment to creating
diversity among its suppliers and promoting the prosperity of the communities
where it does business. In 2007, for example, Verizon spent more than
About Verizon Communications
Verizon Communications Inc. (NYSE: VZ), headquartered in New York, is a
leader in delivering broadband and other wireline and wireless communication
innovations to mass market, business, government and wholesale customers.
Verizon Wireless operates America's most reliable wireless network, serving
nearly 66 million customers nationwide. Verizon's Wireline operations include
Verizon Business, which delivers innovative and seamless business solutions to
customers around the world, and Verizon Telecom, which brings customers the
benefits of converged communications, information and entertainment services
over the nation's most advanced fiber-optic network. A Dow 30 company,
Verizon employs a diverse workforce of nearly 235,000 and last year generated
consolidated operating revenues of
About the Verizon Foundation
The Verizon Foundation, the philanthropic arm of Verizon Communications,
supports the advancement of literacy and K-12 education through its signature
program, Thinkfinity.org, and fosters awareness and prevention of domestic
violence. In 2007, the foundation awarded more than
For more information on the foundation, visit www.verizon.com/foundation.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
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