On Thursday morning, a groundbreaking ceremony was held on the future site of the McWane Economic Education Center in Birmingham. Despite the cold weather, scores of supporters and partners showed up to celebrate the major capital achievement it reflects.
Chip Reed, who has been at the center of the project for 17 years as the President of Junior Achievement, said the vision is becoming real for those who have been long involved.
“Imagine the sound of 200 kids a day, 20,000 kids a year in this very spot one year from now, and you can almost hear their hearts beating with excitement, because they get to feel and experience a future that maybe they weren’t able to vision beforehand,” Reed said.
“That maybe are carrying a slightly lighter load because they can envision and practice and see and think and see jobs and careers and money and finance and budgets and all the scary rules of life – a game that they don’t know how to play – is just a little less scary and a little lighter, because they got to practice being an adult before they have to be an adult.”
Located at 6th Ave North and 22nd Street, the center will serve as an educational learning lab, providing immersive experiences that prepare young people for the modern world. By bringing real-world companies, jobs, and scenarios into the classroom, JA BizTown and JA Finance Park will equip students with practical knowledge that inspires and prepares them for life beyond school.
Major progress was made in 2023 when the State of Alabama contributed $5 million to the project. Reed thanked education budget chairmen State Sen. Arthur Orr (R-Decatur) and State Rep. Danny Garrett (R-Trussville) for their belief in the project’s benefit to the next generation of Alabama school students. Fundraising efforts have achieved 93% of the $20 million goal, with $16.5 million raised so far. The McWane family and McWane Foundation have acted as the catalyst donor.
“We’re here at the epicenter of the large population center here in Alabama, places that we can reach everybody around us equally and quickly,” said Will McWane, Chairman of the McWane Foundation. “This model works. It’s out there in the world. You can go and see these places today, in Georgia and Atlanta, up in Tennessee. We’re going to take a model that works well and bring it here to Birmingham.”
“It’s something that the city and the state can be proud of for a long time,” McWane said.
Regions Bank has committed $1 million to the construction of the facility, as well as the property on which the future center will be built. EBSCO Industries, through the Stephens family, has provided continued support for the project. Additional support was secured by Junior Achievement and public-private partnerships through the City of Birmingham, the Jefferson County Commission, and the Alabama Community College System.
“We believe, and I think it’s proven, that the earlier you can start teaching people how to manage their finances, the more effective they’ll be,” John Turner, President and Chairman of Regions Bank, told attendees. “We are proud to commit $1 million to the construction of this facility. It’s more than just a groundbreaking today – it’s the building of a foundation that will ensure the financial future of Birmingham and our state.”
“Junior Achievement does a fabulous job of equipping students with the skills they need to better manage their finances,” Turner said.
The design of the McWane Economic Education Center is modeled after similar successful facilities in Georgia and Tennessee. Chip Reed, Junior Achievement board member Thomas Harris, Birmingham Mayor Randall Woodfin, and former Birmingham City Schools Superintendent Dr. Lisa Herring made multiple trips to the Junior Achievement center in Atlanta to identify how the model could come to life in Birmingham.
“We didn’t go once, y’all to Atlanta – we went twice. And the vision is so compelling,” Mayor Randall Woodfin said. “It is so clear to see when Chip asks you all to close your eyes and imagine these young people – 20,000 a year, but on a daily basis – bustling through what’s now concrete but will soon be a building that will literally change young people’s lives.”
“I’m grateful for every single person that’s standing and seated out here in this cold weather, because we collectively will embark on changing lives together, and we’re dealing with financial literacy for our next youngest generation,” Woodfin said.
Grayson Everett is the editor in chief of Yellowhammer News. You can follow him on X @Grayson270.
