STAMFORD, CT – Philip Morris International (NYSE: NYSE:) announced a partnership with the Women’s Business Development Council (WBDC) to support the economic empowerment of women in Connecticut. The tobacco giant will invest $5 million over five years in the WBDC’s Women’s Economic Empowerment Initiative (WEEI), starting in January 2025.
The initiative aims to remove barriers to women’s full participation in the state’s entrepreneurial ecosystem. These investments are consistent with PMI’s commitment to gender equality and economic growth in the communities in which it operates. PMI’s contribution will fund education, training, resources and access to capital for Connecticut women, increasing their economic self-sufficiency.
WBDC has a 27-year history of helping women in business, having assisted more than 18,900 clients, launched more than 14,170 businesses, and helped create more than 31,400 jobs. The organization was instrumental in providing access to more than $57 million in capital. PMI funding is expected to expand the reach and impact of WBDC services, supporting the growth of women entrepreneurship in the state.
The partnership announcement, made at PMI’s Stamford headquarters, was attended by prominent local and state officials, including Connecticut Gov. Ned Lamont and U.S. Congressman Jim Himes. Officials praised the initiative for its potential to promote economic independence and enhance Connecticut’s reputation as a welcoming environment for working women.
PMI has previously demonstrated its commitment to gender equality by becoming the first multinational company to receive the global EQUAL-SALARY certification. The company encourages other corporations to support initiatives that expand women’s economic empowerment.
The press release also highlights PMI’s broader efforts to achieve a smoke-free future, including significant investments in smoke-free products and the acquisition of Swiss Match, a leader in oral nicotine delivery. PMI’s smokeless brands, IQOS and ZYN, have received modified-risk tobacco product approval from the US Food and Drug Administration.
This partnership builds on the press statement and reflects PMI’s ongoing strategy to make a positive contribution to the communities in which it operates, with a focus on supporting women entrepreneurs and economic equality.
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