Partnership to strengthen Connecticut jobs

Posted on April 29, 2019

A new partnership will go a long way towards strengthening Connecticut jobs.

Dalio Philanthropies joined Connecticut Governor Ned Lamont, First Lady Annie Lamont, leaders in the General Assembly, students and other stakeholders to announce the launch of a partnership strengthening public education and promoting greater economic opportunity in Connecticut.

Through Connecticut’s leadership and the support of Dalio Philanthropies, the partnership seeks to raise $300 million over five years: $100 million from the State of Connecticut that will be matched by $100 million from Dalio Philanthropies and another $100 million from other philanthropists and business leaders.

The $100 million from Dalio Philanthropies is the largest known philanthropic donation to benefit the state in Connecticut’s history. The partnership will benefit residents of Connecticut’s under-resourced communities, with a specific focus on communities where there is both a high poverty rate and a high concentration of youth (14-24) who are showing signs of disengagement or disconnection from high school.

Dalio Philanthropies and the State of Connecticut formed the partnership in response to the state’s current challenges:

• More than one out of every five high school students in Connecticut are either disengaged or disconnected from school;
• The annual fiscal impact of high school dropouts on the state budget is more than $900 million;
• Connecticut ranks among the highest states in terms of income inequality; and
• Employers across the state are looking to hire skilled workers in historic and emerging industries.

The partnership will:

• Work with local stakeholders to ensure that community voice and input shape programming design and help advance positive outcomes as quickly and sustainably as possible;
• Serve disengaged and disconnected youth or entrepreneurs working in under-resourced communities;
• Utilize practices with demonstrated positive impact in Connecticut or other states and communities.