Month: February 2024

Originally Published by Forbes

For a company to successfully create new and life-changing therapeutics for people, it must begin by establishing its own people-first and mission-driven culture. That’s the premise Bruce Cozadd set out to test when he co-founded Jazz Pharmaceuticals (NDAQ: JAZZ) in 2003.

Jazz began its life like many other biotech startups, focused on creating therapeutics for disease areas with unmet needs, such as sleep medicine. But over the past 20 years, the company’s approach evolved beyond Neuroscience to include treatment options for hematologic cancers and solid tumors. Many new pharmaceutical companies find initial success – a successful Phase 3 Clinical trial, first indication, or second indication – and quickly look for an acquirer to help them capitalize on that success. But Cozadd and Jazz have done something different, building a durable, Top 50 pharmaceutical organization, bringing over 11 therapeutics to market in the past two decades.

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CLEVELAND, February 09, 2024 /3BL/ – KeyBank Community Development Lending and Investment (CDLI) invested $10.2 million of 4% Federal LIHTC Equity and provided a $7.9 million construction loan to finance the development of Henrietta Homes. The development will consist of 40 lease-to-purchase (LTP) affordable single-family homes, to be built on vacant land throughout the Hough neighborhood of Cleveland, Ohio.

Henrietta Homes will target family households with incomes between 30% and 60% of area median income (“AMI”). The development will be partially subsidized, of which eight homes will be supported by a 20-year Section 8 project-based vouchers (“PBV”) provided through Cuyahoga Metro Housing Authority. Additional soft funding sources include $1.6 million from City of Cleveland Housing Trust Funds, a $450,000 Cuyahoga County HOME loan, and a $1.25 million equity bridge loan through Ohio Housing Finance Agency’s Housing Development Loan program. The project is a culmination of community planning efforts and will complement investments to revitalize the Hough neighborhood.

The Famicos Foundation is the sponsor for Henrietta Homes. The Famicos Foundation is one of Northeast Ohio’s largest nonprofit community development corporations, and its mission is to improve the quality of life in greater Cleveland through neighborhood revitalization, affordable housing, and integrated social services.

Henrietta Homes new construction will consist of 36 two story three bedrooms homes with an unfinished basement and detached 1.5 car garage, as well as four three-bedroom one story homes with an attached 2-car garage (no basement level). The project will be built to meet Enterprise Green Communities standards to ensure energy and cost efficiencies for the tenant to maintain. Amenities include a private yard, full appliance package with dishwasher, washer, and dryer hook-ups, and in-unit alarms.

The homes will be available to lease during a 15 -year period, and at year 16, residents will have an opportunity to purchase the home at an affordable price. Famicos will prepare tenants to transition into homeownership by providing financial training and homeownership counseling during the 15-year leasing period.

The development is close to public transportation and within two miles from the Cleveland Clinic and University Hospitals main campuses. Henrietta Homes is also located near grocery stores, numerous restaurants, and schools.

Derek Reed and Kory Clark of KeyBank CDLI structured the tax credit equity and debt financing for the transaction.

About KeyBank Community Development Lending and Investment

KeyBank Community Development Lending and Investment (CDLI) finances projects that stabilize and revitalize communities across all 50 states. As one of the top affordable housing capital providers in the country, KeyBank’s platform brings together construction, acquisition, bridge-to-re-syndication, and preservation loans, as well as lines of credit, Agency and HUD permanent mortgage executions, and equity investments for low-income housing projects, especially Low-Income Housing Tax Credit (LIHTC) financing. KeyBank has earned 10 consecutive “Outstanding” ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency, making it the first U.S. national bank among the 25 largest to do so since the Act’s passage in 1977.

About KeyCorp

KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $188 billion at December 31, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

Tensie Whelan, Director of NYU Stern Center for Sustainable Business, and Jackie Murphy, former Managing Director of Edelman Purpose & Impact, join co-host Andie Wood to discuss a consumer brand study the two organizations partnered on around sustainability claims, exploring impact and performance across diverse consumer groups. Listen in to learn about the best practices for creating action-backed messages and promoting sustainability effectively.

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Did you know that science is behind the making of your favorite P&G brand products? Nothing excites our award-winning scientists more than creating superior products that solve the real problems that consumers face everyday. As the maker of brands loved by women and girls around the world — like Always, Olay, Pantene and Venus — we understand the importance of inclusive teams in developing the innovations and products that meaningfully impact all the consumers we see and serve.

Women currently make up 34% of the workforce in science, technology, engineering and math (STEM), and while women have made career advances in these fields, there is room for growth. We celebrate International Day of Women and Girls in Science on February 11 and honor the contributions of women to P&G’s innovation — as well as to the sciences globally — as we aspire to full inclusion of girls and women in science.

Inspiring Inclusion throughout Our Herstory

For more than 185 years, P&G has served consumers with our innovative branded products to meet their needs. In doing so, we have aspired to create an inclusive culture for generations. In 1890, we opened our first analytical lab in Ivorydale, Ohio, with one of the first women in a technical role — and haven’t looked back.

P&G hired its first female Ph.D. scientist in 1926, Else Schulze, who would later head her own department and hire 37 women with science degrees. She set the path for a diverse and highly skilled STEM workforce including engineers, scientists and IT experts to provide consumers with products they need and love.

The Women Behind P&G’s Superior Innovation

Today, many women innovators at P&G continue to build on the legacy of trailblazers like Else, working on diverse, inclusive teams who are delighting consumers with products so good that they are loved and trusted by millions of households around the world.

Our ability to uniquely see and uniquely serve every consumer — over half of whom are women and girls — is strengthened by a workforce and a culture that respects and reflects all the consumers we serve.

Dr. Rolanda Wilkerson, Senior Director, Fellow of P&G Beauty Care, recently shared her career journey and P&G Beauty breakthroughs in OLAY’s Super Serum with a group of future innovators from Girl Up. She explained the breakthrough moment when the team uncovered activated niacinamide — a low-pH activated ingredient that unlocks the “supercharged” power of niacinamide. Activated niacinamide provides faster results and longer-lasting benefits for the skin, including boosting surface cell turnover, evening skin tone and tackling visible discoloration.

Learn more about OLAY Super Serum and meet more of the “super” women behind OLAY’s Super Serum technology.

In our haircare business, women innovators are helping revolutionize the way consumers experience healthy hair with the new Pantene Miracle collection. Dr. Jeni Thomas, Global Science Communications Director, P&G Hair, is part of the team behind Pantene’s Miracle Rescue Deep Repair Conditioner, which includes the superior innovation of melting Pro-V pearls to help bring damaged hair back to life. Backed by science and infused with skincare-inspired ingredients, this new Pantene hair repair product offers an extraordinary solution for damaged hair, resulting in strong and healthy strands.

Learn how Pantene’s Miracle collection is bringing luxury hair care to more people.

Through the years, our commitment to gender equality, inclusive leadership and innovation has shaped our workplace culture, inspired our people, grown our business and impacted our communities.

Inspiring the Innovators of the Future

As we celebrate the women in STEM of our past, and those of today, we also look forward to the scientific leaders of the future. Together with our gender equality partners, we are making connections for women of all generations to lead, innovate and create impact.

We collaborate with action takers and impact makers like Girl Up to support education opportunities and develop more leaders who not only strengthen P&G, but also the communities in which we live and work.

Girl Up is bridging the gender gap in the STEM fields by inspiring girl leaders to use STEM skills to create solutions to issues in their communities for social good. The program includes a STEM Bootcamp and financial grants to implement community projects.

Four girls who have a passion for STEM from Girl Up’s Cincinnati region recently spent a STEM Immersion Day at P&G headquarters and our Research & Development Center in Mason, Ohio – our largest in the world. They toured labs, heard from archivists and scientists about the career journeys of P&G’s women innovators, and learned about exciting technology breakthroughs from several of our phenomenal women scientists working on our Beauty and Home Care brands. From our time with these innovators of tomorrow, it was clear that by creating more opportunities for young leaders today, we can unlock more solutions to help us serve all consumers in a more equal future.

Learn about more P&G women scientists, their passion for STEM and how we’re supporting women and girls in science.