Empowering Alabama Youths Now to Unlock Their Potential Later
Chip Reed, President of Junior Achievement (JA) Alabama, has an important question when it comes to the young people of Birmingham.
“How do you get a young person to have a vision of what the real world has to offer and take advantage of opportunities if they don’t know what is out there?” For example, the poverty rate of downtown Birmingham is 51% and unemployment is more than 5 times the national average. As a result, JA Alabama’s mission to inspire and prepare young people to succeed in a global economy is especially crucial. Reed knows that when kids develop sought-after skills, they will have more career opportunities and in turn that will be good for the growth and economic development of the community and the state overall.
“It’s the rising tide that lifts all boats mindset. My role in helping Alabama be a great place to live, work and do business is to get more kids fully connected,” explains Reed.
The McWane Economic Education Center will include large interactive classrooms for JA BizTown and JA Finance Park.
The Center will serve over 20,000 middle school students each year from surrounding districts.
An economic education center is envisioned to provide that opportunity. Located in the heart of downtown Birmingham, construction for the 30,000 square foot, $20 million state-of-the-art JA Alabama McWane Economic Education Center (Center) recently began. The learning facility will feature real-life financial engagement through JA Biztown and JA Finance Park. These JA programs are unique because they comprise both a classroom curriculum and a hands-on experiential learning lab where students immerse themselves in various opportunities that mimic real-life situations. The center will expand JA Alabama’s proven instruction in financial literacy, workforce readiness, and entrepreneurship for over 20,000 students across multiple school systems, with programming aligned to state education standards.
“We put a lot of thought into what we wanted to accomplish, and Reinvestment Fund became a real big part of our envisioned success that made a real difference for us,” reflected Reed.
We put a lot of thought into what we wanted to accomplish, and Reinvestment Fund became a real big part of our envisioned success that made a real difference for us.
Chip Reed, President, Junior Achievement Alabama
Reinvestment Fund, a mission-driven financial institution dedicated to using financial tools to create opportunities and expand access to essential resources, such as education, in underserved communities, provided $7 million in New Markets Tax Credit (NMTC) Qualified Low-Income Community Investments (QLICIs) to support the construction of the Center. This support from Reinvestment Fund is part of a broader strategy to enhance economic mobility for young people in Birmingham. NMTC is a key tool for driving community development and creating opportunities. The Center is located in an area where 78% of students served are low- to moderate-income; 77% are minority youth.
The construction and operation of the Center will also create an equitable workforce through 5 new permanent jobs, 18 retained jobs and 54 construction jobs. All are projected to be quality jobs with benefits, and the majority are accessible to low-income individuals.
This investment aligns with the Reinvestment Fund’s goals of investing in education, creating economic opportunities, and revitalizing communities. The project meets Reinvestment Fund’s social impact criteria in workforce development, education, and minority-serving initiatives, and drives strategic capital deployment in the Deep South.
Reed reflects on the vision and execution of the plan for the Center. “It was very bold, and it was very ambitious. We had to bring all our partners to the table. Private, public and creative financing. We’re grateful Reinvestment Fund decided to come to the table and support us.” The Center, currently under construction, is scheduled to open in 2026.