The newly formed Black Business Leadership Coalition (BBLC) is working to ensure Black Philadelphia receives its fair share of economic recovery-related financial resources and support. Michael Butler covered the stimulus disbursements for Technical.ly.
The BBLC currently comprises 30 business professionals who vow to increase generational wealth by ensuring that the region is conducive to growing Black businesses.
The overarching priority is “…to build our economic future. We have set a goal of 25 percent of the public and private business going to Black-owned companies by the year 2025.”
The coalition’s latest campaign seeks a City of Philadelphia investment of $20 million specifically targeted at Black businesses, wealth, and communities.
As part of the American Rescue Plan, Philadelphia will receive $1.4 billion in funding. The organization wants to see $10 million of it going to the Philadelphia Industrial Development Corporation for Black-owned and -led projects.
BBLC also wants another $10 million to support its strategy for assisting Black businesses. That initiative includes training people, launching new businesses in growth sectors, and supporting the creation of new jobs by Black-owned firms.
Read more about the BBLC in Technical.ly.