Comerica BusinessHQ™ Earns National Recognition for Contribution to Dallas' Southern Sector

Rhea-AI Summary

Comerica Bank's BusinessHQ™ program has been recognized by the American Bankers Association (ABA) with a Community Commitment Award in the category of Community & Economic Development. The program, launched in 2023, serves as a collaborative business resource center for small businesses and nonprofits in Southern Dallas. BusinessHQ offers free workspaces, high-speed Wi-Fi, and various services to support local entrepreneurs.

Key achievements of the program include:

• 3,713 people served through programming
• $118,102 in no-cost coworking provided
• 528 hours of CRA technical assistance programming
• 199 total programs hosted
• 250 small business owners and non-profit members onboarded

The ABA Foundation Community Commitment Awards recognize banks for their extraordinary acts of service in supporting their communities and growing local economies.

Positive

• Comerica Bank's BusinessHQ program won the ABA Foundation Community Commitment Award
• BusinessHQ served 3,713 people through its programming
• The program provided $118,102 in no-cost coworking services
• 528 hours of CRA technical assistance programming were hosted
• 250 small business owners and non-profit members were onboarded

Negative

• None.

DALLAS, Oct. 22, 2024 /PRNewswire/ -- The American Bankers Association (ABA) recognized Comerica Bank for its impact in supporting Southern Dallas small businesses and nonprofits through Comerica BusinessHQ™, naming the program as a winner of this year's ABA Foundation Community Commitment Awards. 

BusinessHQ earned the Community Commitment Award in the category of Community & Economic Development, which will be presented during the ABA's Annual Convention on Tuesday, Oct. 29, in New York City.

"We are extremely honored to earn this recognition and shine a spotlight on the hard work that Comerica, its colleagues and members of the community have put forth to make this project a success," said Brandon Jones, Comerica Senior Vice President, National External Affairs Manager and BusinessHQ project lead. "BusinessHQ represents our commitment to fostering the success of the Southern Dallas community and its nonprofits and small businesses. By providing support and access to critical resources, we are not only supporting individual entrepreneurs but also ensuring the local community continues to thrive for years to come."  

Since opening its doors in 2023, BusinessHQ has served as a collaborative business resource center that provides integral services and value for high need, high opportunity small businesses in the Southern sector of Dallas. The 8,000-square foot space offers free workspaces, high speed Wi-Fi, printing and scanning services, video conferencing rooms and content creation rooms with green screens, backdrops and lighting for business owners and entrepreneurs.

BusinessHQ was designed to function as part of the Southern Dallas small business ecosystem and serve as an epicenter of vetted, credible community partners to present effective and impactful small business incubation and technical assistance. The program continues to assemble a robust and growing roster of strategic community partners.

The program has delivered in serving the needs of small business owners, entrepreneurs and nonprofits in Dallas' southern sector. The measurable impact includes:

• 3,713 people served through programming
• $118,102 in no-cost coworking provided to BusinessHQ members
• 528 hours of Community Reinvestment Act (CRA) technical assistance programing hosted at BusinessHQ
• 199 total programs hosted
• $20,467 of in-kind rent provided to in-house incubation partners
• 250 small business owners and non-profit members onboarded
  ***(Data is from May 2023 to Sept. 2024)

The ABA Foundation Community Commitment Awards recognize banks' extraordinary acts of service to support the people in their communities and grow their local economies. The awards program recognizes banks nationally among seven categories: affordable housing, community & economic development, economic inclusion, financial education, protecting older Americans, supporting military families, and volunteerism. Award winners were chosen by a field of nationally-recognized experts in each field.

The selection committee chose the winning banks based on the creativity and thoughtfulness of programs – traditional or innovation in nature and structure – that embody the ideals of corporate social responsibility and demonstrate success in making an impact.

"Comerica Bank's BusinessHQ program demonstrated the extraordinary impact that banks can make in the communities they serve," said Lindsay Torrico, executive director, ABA Foundation. "We're proud to recognize them as one of the 2024 Community Commitment Award winners and hope their efforts will inspire others throughout the industry."

For more information about BusinessHQ visit comerica.com/businesshq and for more information on the ABA Foundation Community Commitment Awards, visit aba.com/awards.

This year, Comerica Bank celebrates its 175^th anniversary. A subsidiary of Comerica Incorporated (NYSE: CMA), Comerica Bank is a financial services company headquartered in Dallas, Texas, and is strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica, one of the 25 largest commercial U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful, providing nearly 380 banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded on Aug. 17, 1849, in Detroit, Michigan, Comerica continues to expand into new regions, most recently in the Southeast, including North Carolina and Mountain West Market in Colorado. Comerica has offices in 17 states and services 14 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $79.7 billion at Sept. 30, 2024. Learn more about how Comerica is raising expectations of what a bank can be by visiting www.comerica.com, and follow us on Facebook, X, Instagram and LinkedIn.   

View original content to download multimedia:https://www.prnewswire.com/news-releases/comerica-businesshq-earns-national-recognition-for-contribution-to-dallas-southern-sector-302283369.html

SOURCE Comerica Bank

FAQ

What award did Comerica BusinessHQ win from the American Bankers Association?

Comerica BusinessHQ won the ABA Foundation Community Commitment Award in the category of Community & Economic Development.

How many people has Comerica BusinessHQ served since its launch in 2023?

Comerica BusinessHQ has served 3,713 people through its programming since its launch in 2023.

What services does Comerica BusinessHQ offer to small businesses in Southern Dallas?

Comerica BusinessHQ offers free workspaces, high-speed Wi-Fi, printing and scanning services, video conferencing rooms, and content creation rooms with green screens, backdrops, and lighting for business owners and entrepreneurs.

How much no-cost coworking has Comerica BusinessHQ provided to its members?

Comerica BusinessHQ has provided $118,102 in no-cost coworking to its members.

When will Comerica Bank (CMA) receive the ABA Foundation Community Commitment Award?

Comerica Bank (CMA) will receive the ABA Foundation Community Commitment Award during the ABA's Annual Convention on Tuesday, October 29, in New York City.