Bloomberg Philanthropies, Bill & Melinda Gates Foundation unveil cities chosen for initiative to boost ‘economic mobility’

Ten U.S. cities selected as benefactors of $12 million economic mobility initiative from Bloomberg Philanthropies, the Bill & Melinda Gates Foundation and Ballmer Group.

Bloomberg Philanthropies, the Bill & Melinda Gates Foundation and Ballmer Group on Tuesday unveiled the 10 U.S. cities chosen for a national initiative that aims to boost residents’ “economic mobility.”

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“The new initiative, supported by Bloomberg Philanthropies, the Bill & Melinda Gates Foundation, and Ballmer Group, seeks to respond to the strong demand among local leaders for new, more effective interventions to address rising income inequality and declining economic mobility,” a news release from the organizations said.

Last year, the trio jointly promised a $12 million investment toward the project, according to the news release.

The involved locations, which will focus on city-specific goals throughout the process, are Albuquerque, New Mexico; Cincinnati and Dayton, Ohio; Detroit and Lansing, Michgan; New Orleans, Louisiana; Newark, New Jersey; Racine, Wisconsin; Rochester, New York; and Tulsa, Oklahoma.

"Across the country, mayors are at the forefront of efforts to increase economic opportunity for their residents," Patricia E. Harris, the chief executive officer of Bloomberg Philanthropies, said. "Through this new partnership, these ten cities will have the chance to test innovative ideas, collaborate with other cities facing similar challenges, and share what they have learned with communities nationwide."

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The project is currently underway, as the cities are collaborating with a team of advisers, which are partners in What Works Cities, which is a Bloomberg Philanthropies initiative, the news release said.