Just call her the millionaire match-maker.
Annenberg Foundation chairman/president/CEO and living beacon of the phrase “leave some for the fish” Wallis Annenberg will match dollar for dollar the next $20 million raised by AltaSea, a new public-private venture that hopes to find solutions to oceanic sustainability. The money will be donated on behalf of Leonard J. Aube, Executive Director of the Annenberg Foundation and crusader of the AltaSea endeavor.
Still in its first phase of development, AltaSea has raised $26.5 million of the necessary $217 million, thanks (again) to the Annenberg Foundation. (By the way, that sum is separate from the additional $20 million Annenberg has newly pledged.) “The ocean may be the most precious public resource we have, a life source unlike any other on the planet,” she said at a preview event for AltaSea. “I am pleased to announce that the Annenberg Foundation will advance Leonard Aube’s vision by matching the next $20 million in private and foundation funding here at AltaSea so we can sustain the Pacific Ocean, learn about it, and benefit from it.”
Billed as “the only urban, ocean-based ideas and innovation center in the world,” AltaSea will be located on a 35-acre site in San Pedro’s Port of Los Angeles. By marrying science, business, and education, the hope is that it will equip Los Angeles to become a hub for solving incredibly dense environmental issues. The project will also boost L.A.’s employment activity: it is projected to create 4,200 temporary jobs and 1,350 permanent jobs. Construction on the AltaSea campus is set to begin is 2017 and will wrap up in 2019.