DATE: Jan. 22, 2008
FOR RELEASE: Immediately

2008 UPDATE: COTA HITS THE GROUND RUNNING WITH NEW FOUNDATION

The Chamber of the Americas announced today that its sister-organization, the COTA Foundation, has received its 501(c)(3) designation from the IRS and will begin operations immediately. As the Chamber continues to promote commerce throughout the Americas, the new Foundation will concentrate on policy, micro-development projects, and educational programs.

"With more than 350 members in 26 countries, the Chamber has created a vibrant community of international businesses, " said COTA President Gil Cisneros. " The next step is to equip our members to succeed both in business and as responsible corporate citizens. The COTA Foundation will fulfill that role. "

Rich Mitchell, a corporate attorney experienced in international relief work, has been named the Foundations Executive Director. "This Foundation is all about innovation, Mitchell said. We view the Americas as a single community. Its a community prepared for tremendous economic growth and one prepared to harness that growth in new ways to serve disadvantaged populations among us."

To make good on its vision, the Foundation is creating a database of humanitarian projects suitable for businesses to start and complete on their own (" micro-development projects "), and has already begun a pilot program in Central America. The Foundation is also conducting an original research initiative in Latin America related to economic policy.

Travis Martinez, the Foundations Executive Vice-President, will contribute to the Foundations policy mission, as well as help oversee general operations.