NCB Capital Impact supports $200-Million Foundation Effort to Increase Healthy Food in California

Published On: July 21st, 2011By Categories: Blog

Michelle Obama announces the California FreshWorks Fund


NCB Capital Impact lives by the mission to help people and communities reach their highest potential at every stage of life. The latest initiative,The California FreshWorks Fund, is a $200 Million public-private loan fund that provides a financially attractive blueprint for healthy food access to underserved communities. This financing encourages economic growth and creates/retains up to 6000 Jobs.
First Lady, Michelle Obama, invited NCB Capital Impact and other partners involved in the initiative to the White House for a healthy foods summit with corporate and industry leaders. Mrs. Obama, a vocal advocate for healthy food access, gave a glowing endorsement of the California FreshWorks Fund and of those involved in its development.
The California FreshWorks Fund (CAFWF) is modeled after the successful Pennsylvania Fresh Food Financing Initiative and developed to align with the National Healthy Food Financing Initiative (HFFI). The fund will make communities across California healthier by working directly with grocers on developing new and improved places to buy nutritious food. According to CAFWF partners, the new stores are expected to create or retain around 6000 jobs in California.
“It’s ironic that some communities have an overwhelming need for access to healthy foods in a state that is one of the largest agricultural producers in the country”, said Terry Simonette, President & CEO of NCB Capital Impact, the non-profit community development financial institution (CDFI) that serves as the program administrator of the California FreshWorks Fund. “The California FreshWorks Fund brings together an exceptional combination of private and non-profit partners to deliver a market-based solution to this problem in the absence of public subsidy,” Simonette added.
Perhaps the most fascinating piece of the FreshWorks announcement is the groundbreaking coalition of grocers, major banks, health care entities, research experts and other partners that came together to solve a problem. By gaining the insights of a broad cross section of stateholders, and working in a collaborative and visionary process, The Californai FreshWorks Fund, is a project with the potential to change the world as we know it!
LEARN More About the California FreshWorks Fund at
www.CAfreshworks.com
href=’http://www.youtube.com/watch?v=xgkTcNFeSCs&feature=player_embedded’ >Introducing, The California FreshWorks Fund