BROOKLYN (PIX11) — Vice President Kamala Harris, alongside Mayor Eric Adams, on Thursday announced new investment efforts designed to help low-income and underserved communities.

They announced the formation of the Economic Opportunity Coalition (EOC.) White House officials described it as a coalition of 24 companies and foundations that, together, will invest billions in underserved communities.

“We all do better as a nation when all our communities do better,” Harris said.

Much of the money will go to women-owned and minority owned businesses, she said. The White House will work closely with the coalition to make sure each dollar is used well.

“With this major boost, New York City’s businesses will come back stronger than ever,” Adams said after the event.

The vice president made the announcement in Bedford-Stuyvesant. She said the location was chosen for a reason. In the 1960s, Bed-Stuy faced “tremendous challenges. In 1967, community leaders founded the Bed-Stuy Restoration Corporation, which became the first public private community development corporation. Harris said it has since served as a model for all others.

She was joined Thursday by Adams and by NY Lieutenant Governor Antonio Delgado. When Harris landed in New York at LaGuardia Airport on Thursday afternoon, she was greeted Delgado. From there, she headed to Brooklyn.