Former NBA star Earvin "Magic" Johnson continues to make a name for himself in the business world. Not only does he aim to make his investments grow, but most importantly, he wants to make an impact in underserved communities. He is now planning to invest in the city of Baltimore to create more job opportunities and contribute to its economic growth.
Just recently, Johnson reportedly met with Baltimore Mayor Catherine Pugh to discuss long-term investment opportunities in the city. He hopes to bring more employment opportunities by bringing some of his franchises in the area, according to The Baltimore Sun.
Other potential projects considered are adding one of his movie theaters at the Mondawmin Mall, improving tax breaks for investing in underserved neighborhoods, and revitalizing the Perkins Home housing development.
"We bring a retail and a housing option, which we call mix-use. That really jump-starts the redevelopment of urban corridors. And then others will come in, big boxes and others, will come in and invest in the city," he said in an interview with WBAL-TV.
Moreover, Johnson plans to return to the city to know more about it and to continue the discussions about possible investments and developments.
For over 10 years, he has already spurred growth and development to several urban communities such as Harlem and Brooklyn through his company, Magic Johnson Enterprises. Now, the company is valued at an estimated $1 billion.
Johnson's latest investment is expected to improve the Baltimore's economic situation. And he aims to do just that. He said, "Baltimore, you're the magic city. Here comes the magic man."