Albemarle Donates $1.5 Million to Mayor’s Racial Equity Initiative in Charlotte

Albemarle Donates $1.5 Million to Mayor’s Racial Equity Initiative in Charlotte

Since moving our corporate headquarters to Charlotte, we have looked for ways to make a difference in the community, focusing on improving economic mobility. The Charlotte-Mecklenburg region has some of the lowest rates of economic mobility in the U.S., according to research by Harvard University and the University of California, Berkeley.

In 2018, Albemarle pledged $10 million to fund educational programs in Charlotte that give our most vulnerable students the support and skills they need to succeed. In 2020, we donated $1 million to Carolina Youth Coalition to help under-resourced high school students access higher education. And this year, we gave $1.5 million to the Mayor's Racial Equity Initiative (MREI), a nationally recognized public-private partnership started by Mayor Vi Lyles.

“Albemarle is a values-driven company, and our commitment to sustainability includes how we engage and collaborate with the communities where we live and work," said Kent Masters, Albemarle CEO. “We're proud to join Mayor Vi Lyles and community leaders to support greater equity and economic mobility in the Charlotte area."

Launched in November 2021, the Mayor's Racial Equity Initiative has experienced overwhelming support from the city's business community and public partners, raising $240 million of the initial public-private $250 million total goal, with additional funding pending.

The initiative addresses racial inequities in Charlotte and aligns with Albemarle Foundation's giving pillars of education, health and social services, and cultural initiatives.

“There has undoubtedly been a tremendous amount of financial support in the inaugural year of the MREI, and with money allocated to all four Priority Focus Areas, I couldn't be more grateful," said Charlotte Mayor Vi Lyles. “What we've seen in these first 12 months has surpassed all of our expectations and illustrates the importance of this work and the power of public-private partnerships like this one."

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