In the era when newspapers made families enormously wealthy and some of the most magnificent buildings in Chicago and New York were the home to the Tribune and the Times, there was another newspaper family that also made out quite well – the Knight family. John S. and James L. Knight were a pair of brothers who worked primarily at the Akron Beacon Journal and Miami Herald. The pair’s father had bought the Akron paper in 1903 and John S. inherited it in 1933. They acquired the Herald in 1939.
By 1974, when Knight Newspapers merged with Ridder Publications, it was the largest newspaper publisher in the United States. One of those was the Macon Telegraph which it bought in 1969. Knight-Ridder was sold to McClatchy in 2006 but thanks to this historic legacy, Macon is home to one of eight permanent locations of the John S. and James L. Knight Foundation.
The Knight Foundation has been making a difference in Macon since the 1990’s, with a permanent program director in place. Their latest round of investment is a $1.5 million grant to help spur entrepreneurship in Macon. Focused on Black and women-owned business in Macon’s downtown, the development organization NewTown Macon will distribute the loans and provide training to those who qualify. According to NewTown Macon, some 160 businesses call downtown Macon home but only 18% of those are owned by Black residents, despite making up 54% of the population.
“This latest investment from Knight builds on a consistent strategy that has inspired NewTown to amplify our successful revitalization efforts beyond what we initially dreamed possible,” said Josh Rogers, president and CEO of NewTown Macon. “Through Knight’s support, we’ve been able to equip our staff with the knowledge and resources to expand our lending to make a greater impact in the community, building sustainable relationships with our local entrepreneurs and developers.”
NewTown Macon has been at the heart of the revival of downtown for more than twenty years and is well-placed to manage the funds. A third of the money, $500,000, will go to NewTown Loans, a certified Community Development Financial Institution, offering loans, lines of credit and investment opportunities to start new business and create jobs. The other $1 million will go towards NewTown Macon’s Godsey Initiatives Fund, a program that provides training and post-training funding for entrepreneurs.
“Knight Foundation sees this latest investment driving our strategy for Macon,” said Lynn Murphey, Knight’s Macon program director. “One of the most special things about downtown Macon’s renaissance has been that local people create these projects and local people benefit from them. This investment will ensure we’re equipped to continue supporting Maconites inclusively.”
This latest announcement comes on the heels of the Knight Foundation matching $1.6 million in American Rescue Plan Act funds being dedicated to NewTown Macon and the Historic Macon Foundation last month. The total $3.2 million will help to increase affordable housing units by building new rental units and incentivizing locals to renovate existing properties.
