Starbucks Coffee Company began accepting donations today from consumers both in-store and online to support the “Create Jobs for USA” program. The company launched the initiative with the Opportunity Finance Network earlier this month.
Edelman, the company's AOR, is supporting all efforts behind this initiative, Jim Olson, VP of global corporate communications at Starbucks, told PRWeek.
The Starbucks Foundation was the first to contribute to the program today, donating $5 million to the Community Development Financial Institutions, one of the networks within OFN.
For every $5, the CDFI should be able to lend $35. According to estimates compiled by Opportunity Finance Network and independent economists, a new job will be created or saved for every $21,000 loaned, or every $3,000 donated.
Starbucks isn't the only restaurant chain to battle unemployment this year. McDonald's ran a jobs promotion on April 19 called “Hiring Day.” Its goal was to hire 50,000 McDonald's employees in one day, but the result was even better than expected. The company wound up bringing on 62,000 new employees, 26% more than the original goal.