The John S. and James L. Knight Foundation has announced a $1.5 million investment in NewTown Macon to expand Black and women-owned businesses in the urban core of Macon, Georgia.

According to the foundation, Black residents make up 54 percent of Macon's population, yet of the hundred and sixty local businesses based in downtown Macon, only 18 percent are owned by Black entrepreneurs. The foundation's investment includes $500,000 in support of NewTown Loans, a recently certified community development financial institution, which will enable women and Black entrepreneurs to access loans, lines of credit, and investment opportunities; and $1 million in support of the Godsey Initiatives Fund, a program that provides coaching for individuals who wish to start a business and funding after the training has been completed. In 2017, the Knight Foundation made an initial investment of $500,000 in the Godsey Initiatives Fund.

"This latest investment from Knight builds on a consistent strategy that has inspired NewTown to amplify our successful revitalization efforts beyond what we initially dreamed possible," said NewTown Macon president and CEO Josh Rogers. "Through Knight's support, we've been able to equip our staff with the knowledge and resources to expand our lending to make a greater impact in the community [and build] sustainable relationships with our local entrepreneurs and developers."