Mobile Releases Financial Empowerment Blueprint to Advance Wealth Equity

Jun 16th, 2025

Posted in: Neighborhood DevelopmentPress ReleaseMayor

- June 16, 2025 -

For Immediate Release

Mobile Releases Financial Empowerment Blueprint to Advance Wealth Equity

Mobile, Ala. – As part of its ongoing efforts to improve financial stability and wealth equity across the community, the City of Mobile has released its first-ever Financial Empowerment Blueprint.

This strategic plan outlines actionable steps to enhance financial opportunities for all Mobilians, particularly those historically disadvantaged by economic barriers. Over the past two years, the City of Mobile has worked alongside the Cities for Financial Empowerment Fund (CFE Fund) as part of the CityStart initiative to research and document the financial landscape of the community.

With support from a CFE grant, the City’s Office of Strategic Initiatives (OSI) engaged local stakeholders through research, surveys, and community meetings to develop a comprehensive plan to address economic disparities and enhance financial mobility. The plan also provides insight into how Mobile can expand its existing housing and financial programs.

“As a city, we’ve made significant strides in fostering economic growth, but we recognize that not all Mobilians have historically had equal access to critical resources and opportunities,” said Mayor Sandy Stimpson. “Empowered people empower their families, social networks, neighborhoods, businesses, and communities. This blueprint represents our commitment to ensuring that all Mobilians have the tools and support needed to achieve financial stability and start building wealth.”

The Financial Empowerment Blueprint identifies key focus areas for intervention: Wealth Building, Financial Services, Entrepreneurship and Education. It builds upon the City's previous efforts, including wage increases for city employees, affordable housing initiatives, business development programs, and partnerships with financial institutions to improve access to capital.

Moving forward, the city is focused on working with community partners to support job training programs, strengthen entrepreneurship initiatives, and expand financial literacy efforts. 

This initiative is a collaborative effort involving the City of Mobile’s Office of Small Business Development, the University of South Alabama, and local nonprofits, businesses, and community members throughout Mobile. For more information about the Financial Empowerment Blueprint and how to get involved, visit: https://www.cityofmobile.org/departments/neighborhood-development/ or call (251) 208-7967.