Intuit Prosperity Hub Program Generates 2,200 Jobs and $123 Million Annual Economic Activity for Communities in Need
October 15 2020 - 9:47AM
Business Wire
Intuit Inc. (Nasdaq: INTU), maker of TurboTax, QuickBooks, and
Mint, today unveiled an update on the economic and societal impact
of its Prosperity Hub Program, including the generation of 2,200
jobs and $123M annual economic contribution to communities in need.
Since the program launched in 2016, Intuit has worked with select
partners in each Prosperity Hub to create new jobs and deliver
programs that benefit the community through customer success
centers, educational institutions, financial empowerment
initiatives and small business success centers.
Intuit Prosperity Hubs are located in seven communities across
the U.S. and internationally, including Bluefield (WV), Hazard
(KY), Johnstown (PA), Lawton (OK), Morristown (TN) and Wise (VA)
and Corner Brook (Canada), with an additional location set to
launch in the United Kingdom in late October 2020. Intuit selects
communities that are considered to have low levels of economic
well-being, according to the Economic Innovation Group’s Distressed
Community Index, and that would benefit disproportionately from
stepped up investment and employment opportunities. For every $1.00
Intuit invested into the Prosperity Hub Program over the past year,
recipient communities (U.S. only) have experienced as much as a
$1.83 in positive economic impact.
Jobs through Intuit’s Prosperity Hub Program are implemented by
key employer-partners including Alorica, Concentrix, Sitel and
Sykes. Approximately one-third of the jobs are permanently virtual,
and designed for people in military communities, who must often
relocate, and people with varying abilities. The program's U.S.
workforce and its $63M in annual employee compensation have
contributed $123M in economic activity over the past year (Sage
Policy Group).
“Not only is Intuit creating jobs in Bluefield, but they provide
our local businesses and entrepreneurs with support and educational
resources from their area of expertise,” said Jim Spencer,
Executive Director, Bluefield WV Economic Development Authority.
“We’ve seen the economic impact of Intuit’s Prosperity Hub Program
firsthand, as it changes lives throughout Bluefield. We’re thrilled
to see Intuit doubling down on growing the program and expanding
support for communities in need.”
Intuit’s Prosperity Hub Program is part of Intuit’s ongoing
corporate responsibility initiative to create jobs and support
career readiness across underserved communities. In addition to
creating new jobs, Intuit partners closely with each Prosperity Hub
community to offer career readiness and financial empowerment
programs, and equip entrepreneurs to start and build successful
businesses. In the last year, Intuit has introduced and bolstered
several key initiatives, such as:
- Career Readiness through Education programs, both in
Prosperity Hub communities and in school systems across the U.S.,
supported over 150,000 students and educators with skills-building
opportunities, business simulations, career exploration assistance
and workshops designed to bolster career readiness and close the
21st century skills gap.
- Prosperity Hub School District Program increased access
to entrepreneurship and personal finance education for students
living in Prosperity Hub communities. Intuit is piloting a version
of this program across select Prosperity Hub communities, and is
planning to expand to additional qualified districts in 2021.
- SaverLife Partnership helped thousands of community
members pledge and maintain the habit of savings. With funding from
Intuit, SaverLife, a national not-for-profit, customized its
program for Concentrix and Alorica employees and residents of
Johnstown and Bluefield. With above average participation rates for
employers and communities, the average net increase in savings in
Bluefield and Johnstown totaled $442 and $211 per family,
respectively. The SaverLife program will be rolled out across all
U.S. Prosperity Hub locations in 2021.
- Small Business Success Centers launched in Wise and
Bluefield, providing over 50 in-person and virtual training
sessions and workshops to equip entrepreneurs and small business
owners with skills in cash management flow management, moving a
business online and design thinking. A virtual small business
success platform is currently in development, bringing these
resources and more to all Prosperity Hub communities in 2021.
“Communities around the world are feeling the devastating
effects of the global pandemic, climate change and shifting
economic circumstances, all conditions that make it more difficult
to find jobs and prepare for future careers,” said Lara Balazs,
Intuit GM, Strategic Partner Group and CMO. “This past fiscal year,
we’ve doubled down on our mission to power prosperity around the
world by formally adding communities as a key stakeholder group. We
have only strengthened our resolve, as a company, to help
accelerate prosperity and build resilience in communities in
need.”
Through its job creation efforts, Intuit aims to increase the
number of jobs offered in Prosperity Hub communities to 7,000 by
2023, and plans to ramp up the number of virtual job opportunities
that afford job-seekers the flexibility they need.
To learn more about the Prosperity Hub Program, download
Intuit’s 2020 Corporate Responsibility Report or visit the Intuit
Corporate Responsibility website.
ABOUT INTUIT
Intuit’s mission is to power prosperity around the world. We are
a mission-driven, global financial platform company with products
including TurboTax, QuickBooks, Mint and Turbo, designed to empower
consumers, self-employed and small businesses to improve their
financial lives. Our platform and products help customers get more
money with the least amount of work, while giving them complete
confidence in their actions and decisions. Our innovative ecosystem
of financial management solutions serves more than 50 million
customers worldwide. Please visit us for the latest news and
in-depth information about Intuit and its brands and find us on
social.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201015005242/en/
Sarah Hilmer sarah_hilmer@intuit.com
Intuit (NASDAQ:INTU)
Historical Stock Chart
From Aug 2024 to Sep 2024
Intuit (NASDAQ:INTU)
Historical Stock Chart
From Sep 2023 to Sep 2024