Image

4:50 AM / Friday July 1, 2022

11 Jun 2021

Black business leaders seek ARP investment in local businesses

  • Facebook
  • Twitter
June 11, 2021 Category: Local Posted by:

The Black Business Leadership Coalition of Greater Philadelphia (BBLC), representing hundreds of business owners, advocates and experts, is calling for the City of Philadelphia to commit to a strategic investment in Black businesses, wealth and communities. Philadelphia will receive $1.4 billion from the American Rescue Plan (ARP). These funds must be used strategically to address the needs of the City’s underserved, majority population.

They are calling on Mayor Jim Kenney and City Council to prioritize strengthening the Department of Commerce with $10M in targeted sole source funds for BBLC strategy implementation. They are also calling for an additional investment of $10 million for major Black owned and led projects through the Philadelphia Industrial Development Corporation (PIDC).

They believe that for this city to be great, it must invest in the neighborhoods and people who have not been prioritized for decades.

The BBLC has spent the last 2 years developing a strategic plan – entitled “3 Pillars for Black Success” – to build wealth in our communities through prioritizing the development of Black businesses.

“We are focused on outcomes that exceed what we had before the shutdowns. We need strategy and long-term planning to turn around decades of poor economic progress,” said John Childress, BBLC president.

“Philadelphia is not a poor city, but the reality is that Black and Brown people own the poverty after 26 generations. To be inclusive and competitive means increasing ownership,” added Dr. Jamie Bracey- Green, CEO of the National Institute for Inclusive Competitiveness and owner of Think and Grow Farms.

The investment in the BBLC will produce the following outcomes:

•  IT Workforce program will train over 200 people for living wage jobs.

•  They will work with 400 businesses to help them stay in business.

•  They will help create 100 new businesses in areas of growth and sustainability.

•  They will help create 750 new jobs from Black-owned employer firms.

•  They will help majority entities create 500 new opportunities for Blacks.

•  They will lead 3 major projects per year, more than $10M per year.

•  They will help grow 3 Black companies over $5M in revenue.

•  They will help create 150 new jobs from Black-owned major projects.

•  They will design, implement and evaluate the creation of Black CEDS strategic plan to create an enabling infrastructure for Black wealth growth.

•  They will develop the economic framework, Genesis, to fund long term investment.

Image

For more information, visit: www.thebblc.org.

  • Facebook
  • Twitter

Leave a Comment

Recent News

Stateside

Testimony: Trump fought security official for control of the presidential SUV on Jan. 6, demanded to be taken the Capitol as the insurrection began

June 28, 2022

Tweet Share Pin Email WASHINGTON (AP) — Donald Trump rebuffed his own security’s warnings about armed protesters...

Commentary

Guest Commentary
Solutions, not excuses; People are dying every day

June 25, 2022

Tweet Share Pin Email Above photo: FRIENDS AND MEMBERS OF THE MOTHER BETHEL AFRICAN METHODIST EPISCOPAL CHURCH...

Education

Community College of Philadelphia to pay off $1.4 million in outstanding student account balances

June 17, 2022

Tweet Share Pin Email Community College of Philadelphia announced that it will pay off more than $1.4...

Color Of Money

Americans still have financial goals, just not sure how they will reach them

June 24, 2022

Tweet Share Pin Email BPT If you have a vision for where you’d like to be financially...

Politics

Takeaways: Trump’s mind ‘made up’ on fraud ahead of Jan. 6

June 17, 2022

Tweet Share Pin Email ABOVE PHOTO: A video exhibit plays as the House select committee investigating the...

Go With The-Flo

Sherri Shepherd’s talk show, “Sherri,” to air in place of former “The Wendy Williams Show”

June 17, 2022

Tweet Share Pin Email ABOVE PHOTO: Sherri Shepherd (Photo: s_bukley / Shutterstock) By Flo Anthony After 13...

The Philadelphia Sunday Sun Staff