The newly formed Black Business Leadership Coalition (BBLC) seeks a fair share of recovery-related financial resources and support for Black Philadelphians. Michael Butler covered the stimulus disbursements for Technical.ly.
The BBLC currently comprises 30 business professionals working to increase generational wealth by strengthening the region’s conduciveness 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 allocated 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.