The Santa Barbara South Coast Chamber of Commerce has been awarded a $100,000 AHEAD Grant through the Federal Home Loan Bank of San Francisco (FHLB), facilitated by American Riviera Bank, a FHLB member.
The funding will support initiatives to strengthen the local economy, expand workforce development programs, and address critical housing challenges in Santa Barbara County’s South Coast region.
The Access to Housing and Economic Assistance for Development (AHEAD) Program, administered by FHLB, supports nonprofit organizations dedicated to economic and community development.
As a member of the FHLB, American Riviera Bank partners with local organizations to distribute grant funds and this year identified the Santa Barbara South Coast Chamber of Commerce as a qualified funding candidate.
AHEAD grants, awarded annually by FHLB, are designed to create a more equitable future for underserved people, neighborhoods and communities.
The Santa Barbara South Coast Chamber of Commerce will use the awarded AHEAD Grant to further its programs designed to strengthening the local economy, developing the workforce, and supporting businesses of all sizes. More specifically, funds will enable the chamber to expand its work in three critical areas:
· Expand its workforce development program, which connects local employers with regional educational institutions to upskill workers and prepare students for high-demand careers.
Currently focused on the precision manufacturing industry, the program aims to grow to a multi-industry initiative targeting first generation college students, minority students, and students from low-income families.
· Support the Employer-Sponsored Housing Consortium, an initiative helping local employers secure housing for their workforce. The program is currently targeting 200 employees and plans to scale further to meet the region’s pressing housing needs.
· Establish a new Economic Development Foundation as a nonprofit division of the chamber. The foundation will be dedicated to driving economic development and fostering long-term resilience for the South Coast community, distinguishing its efforts from the Chamber’s more targeted, member-focused programs.
“We are honored to receive this grant with the help of American Riviera Bank, our long-standing community banking partner,” said Kristen Miller, president/CEO of the Santa Barbara South Coast Chamber of Commerce. “This funding will directly support our mission to help businesses, residents, and visitors thrive.
Through this partnership, we can further strengthen the foundation of our local economy and enhance the exceptional quality of life that defines the South Coast.”
In 2024, the chamber’s workforce development program partnered with 10 high-tech manufacturers and 20 educational institutions, providing training and career mobility for underserved populations.
Through the Employer-Sponsored Housing Consortium, the chamber is addressing a pressing barrier to workforce retention: affordable housing.
“We are proud to support initiatives that strengthen our local economy and empower businesses to thrive,” said Laurel Sykes, executive vice president/chief risk officer of American Riviera Bank.
“The AHEAD Grant reflects our commitment to fostering innovation and sustainable growth in our community, and we’re excited to see the opportunities it will create for economic development,” Sykes said.