Economic inequality is on the rise across communities, driven by shifts in technology, the environment and socioeconomic factors. One in six individuals lives in a community in need (source: Economic Impact Group). Intuit is uniquely positioned to close this gap by bringing jobs and new opportunities that spark economic prosperity.
Intuit, maker of TurboTax, QuickBooks, and Mint, launched our Prosperity Hubs program in 2016, with a mission to promote economic prosperity for people and communities in need by creating new jobs, as well as preparing people for jobs of the future and equipping entrepreneurs to start and build successful businesses. Intuit partners with each Prosperity Hub to deliver programs through its physical & virtual call centers, educational institutions, and small business success centers.
We’re thrilled to share an update on the economic and societal impact of our Prosperity Hub Program, including the generation of 2,200 jobs and $123M annual economic contribution to communities in need.
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 21stcentury 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.