Intuit Prosperity Hub Program Generates 2,200 Jobs and $123 Million Annual Economic Activity for Communities in Need
Intuit (News - Alert) Inc. (Nasdaq: INTU), maker of TurboTax, QuickBooks, and Mint, today unveiled an update on the economic and societal impact of its Prosperity Hub Program, including the generation of 2,200 jobs and $123M annual economic contribution to communities in need. Since the program launched in 2016, Intuit has worked with select partners in each Prosperity Hub to create new jobs and deliver programs that benefit the community through customer success centers, educational institutions, financial empowerment initiatives and small business success centers.
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 (News - Alert). 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 (News - Alert), 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 ne 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:
"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.
Intuit's mission is to power prosperity around the world. We are a mission-driven, global financial platform company with products including TurboTax, QuickBooks, Mint and Turbo, designed to empower consumers, self-employed and small businesses to improve their financial lives. Our platform and products help customers get more money with the least amount of work, while giving them complete confidence in their actions and decisions. Our innovative ecosystem of financial management solutions serves more than 50 million customers worldwide. Please visit us for the latest news and in-depth information about Intuit and its brands and find us on social.