PLAINFIELD, Ind., Nov. 18,
2024 /PRNewswire/ -- The Duke Energy
Foundation and the Indiana Economic Development Association
Foundation are committing $150,000 in grant funding to support
organizations and projects focused on improving access to
affordable child care in Indiana
communities.
The new round of grants follows more than $100,000 in funding awarded through the
foundations last year to five organizations in Indiana working to close the child care gap in
new and innovative ways.
"Inadequate access to high-quality, affordable child care not
only creates significant barriers for parents and caretakers to
participate and advance in the workforce, but also costs employers
in lost productivity and employee retention," said Erin Schneider, managing director of economic
development at Duke Energy. "We know that Indiana's child care challenges are complex
and we hope these grant funds will help communities and employers
develop solutions needed to support working parents and the state's
economy."
State and local government entities, local and regional economic
development agencies, and public and private nonprofit
organizations are eligible to apply for grants up to $40,000. To be considered, applicants must submit
their grant proposal to the Indiana Economic Development
Association by Jan. 31, 2025. Awards
will be announced in March 2025. For a full description of the
grant program, including requirements, eligibility and scoring
criteria, visit ieda.org/foundation.
"Hoosier families, businesses and communities all feel the
burden of insufficient child care options," said Matt Kavgian, executive director of the Indiana
Economic Development Association. "Making sure that working parents
have access to affordable, quality child care will have long-term
benefits for Indiana's prosperity
and economic competitiveness."
The Indiana Chamber of Commerce
recently released a report examining the impact of child care
challenges on Indiana's economy.
The study found that Indiana loses
out on an estimated $4.22 billion
annually for the state's economy, including a $1.17 billion annual loss in tax revenue, due to
shortfalls in child care. According to the report, only 61% of
children needing care statewide can be served through existing
capacity.
Duke Energy Foundation
The Duke Energy (NYSE: DUK) Foundation provides more than
$30 million annually in philanthropic
support to meet the needs of communities where Duke Energy
customers live and work. The Foundation is funded by Duke Energy
shareholders.
Indiana Economic Development Association Foundation
Supporting the economic development profession, the Indiana
Economic Development Association Foundation provides scholarships
and other support to tomorrow's economic development leaders.
Duke Energy: McKenzie
Barbknecht
Phone: 800.559.3853
Email: mckenzie.barbknecht@duke-energy.com
IEDA: Matt Kavgian
Email: matt@ieda.org
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SOURCE Duke Energy