There is untapped economic opportunity in Alabama. If Black-owned businesses grew to the same size as white-owned businesses in the state, it would add $2 billion annually to Alabama’s GDP. That kind of economic activity would go a long way toward closing the racial wealth gap and increase economic mobility for our state’s most vulnerable people and places.
A new collaboration is working to grow the ecosystem of Black businesses and, with it, the state economy as a whole. Our formula is to invest in partnerships, technical assistance, education, and direct investments into businesses. From providing resources to HBCUs to using catalytic capital that attracts fellow impact investors, to standing up the first CDFI in the state, this model is focused on getting enterprises ready for investment, community participation, and continual nurturing of these businesses and their people.