MetLife and MetLife Foundation have announced a multiyear commitment of $30 million in funding and impact investments to drive inclusive economic mobility and strengthen communities in Upstate New York.

MetLife will make impact investments totaling $25 million. MetLife Foundation has pledged $5 million in funding and impact investments, including a $1 million investment in Launch NY, a for-profit limited partner fund that invests in high-growth startups to drive local employment and entrepreneurship opportunities. The foundation’s commitment also includes $1.4 million in grants to several nonprofits including Food Bank of Central New York, Community Foundation of Herkimer & Oneida Counties, and Munson.

“MetLife Foundation’s investment enables us to create opportunities for talented entrepreneurs who will encourage growth and economic prosperity in Upstate New York,” said Launch NY president and CEO Marnie LaVigne. “We value their commitment to the region and look forward to building on our successful partnership.”

(Photo credit: Getty Images/Chris Boswell)