Goldman Sachs is launching a workforce development program that offers paid, semester-long internships for students at community colleges and historically Black colleges and universities, The Baltimore Sun reported.
The investment bank has chosen Baltimore, Cleveland, Dallas and New York City as the cities for introducing the 10,000 Small Businesses Fellows program, which matches college students with small businesses struggling to hire workers during the pandemic. The program will create a “steady pipeline of workers” in those four cities for small businesses that have been hurt by COVID-19. The program is developed in partnership with Johns Hopkins University and will first offer internships to 120 students from Morgan State University and the Community College of Baltimore County, the Sun reports. Additionally, the program will reach Dallas College in Dallas, LaGuardia Community College in New York City and Cuyahoga Community College in Cleveland.
The program builds on the company’s existing 10,000 Small Businesses training program and is expected to grow, with students offered jobs funded by the Goldman Sachs Foundation. The news comes as the career centers at many institutions ramp up virtual resources to help students make up for lost internships and experiences.