Philip Morris International’s U.S. Business Champions Female Economic Growth in Connecticut with Record-Setting $5 Million Investment Through New Partnership with Women’s Business Development Council

Today, Philip Morris International (PMI) (NYSE: PM) announces the launch of an extended partnership via its U.S. business to support female empowerment with a record-setting $5 million investment in the Women’s Business Development Council (WBDC), a 501(c)(3) charitable organization dedicated to providing tools and resources to help women entrepreneurs thrive in business throughout Connecticut.

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(from left to right) Marian Salzman, Senior Vice President & Chief Corporate Citizenship Officer, PMI U.S.; Stamford Mayor Caroline Simmons; U.S. Congressman Jim Himes; State Representative Tom O'Dea; Fran Pastore, CEO of the Women’s Business Development Council; Gov. Ned Lamont; Stacey Kennedy, President Americas & CEO of PMI’s U.S. Business; Lt. Gov. Susan Bysiewicz (Photo: Business Wire)

Beginning January 2025, in coordination with WBDC, PMI’s U.S. business will contribute $1 million per year over a five-year period toward the “Women’s Economic Empowerment Initiative” (WEEI) to help remove barriers that prevent women from full participation in Connecticut’s entrepreneurial ecosystem.

“Philip Morris International is committed to making positive impact throughout Connecticut communities and beyond. Our partnership with WBDC and investment through the ‘Women’s Economic Empowerment Initiative’ enables us to better support Gov. Ned Lamont’s vision of positioning our state as a catalyst for women and their families,” said Stacey Kennedy, President, Americas Region & CEO of PMI’s U.S. business. “As the first multinational to receive Global EQUAL-SALARY Certification, we believe supporting female empowerment and ensuring economic equality is paramount for our collective economic growth. We encourage other companies to join in the initiative to empower females across the state. We have chosen to partner with WBDC because of their 27-year track record as the leading force for women’s empowerment and entrepreneurship and a driver of economic equity across Connecticut.”

Since 1997, WBDC has educated and trained more than 18,900 clients in all of Connecticut’s 169 towns— helping women to launch, sustain, and scale more than 14,170 businesses, create and maintain more than 31,400 jobs, and access more than $57 million in capital. This support from PMI will ensure continuity of the vital services WBDC provides and will allow the WBDC to build a legacy thousands of female entrepreneurs in Connecticut can rely on for years to come.