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The release of the new report kicks off the 2023 L’ATTITUDE Conference in Miami, Florida, creating a national platform for deeper analysis and discussion by top U.S. Latino business leaders about The New Mainstream Economy MIAMI–(BUSINESS WIRE)–The Latino Donor Collaborative (LDC), a nonprofit organization and think tank dedicated to producing research that highlights economic opportunities for growth, has released its highly anticipated 2023 Official LDC U.S. Latino GDP Report, available for download. The report, now in its sixth edition, provides a trove of new data and insights about the U.S. Latino cohort: how the country’s fastest growing population is fundamentally reshaping the U.S. economy through…
The League of United Latin American Citizens broke its nearly century-old political tradition of neutrality in presidential elections. The League of United Latin American Citizens (LULAC) broke with its nearly century-old political tradition of neutrality in presidential elections. It endorsed the Harris/Walz ticket via a statement released on Aug. 9. According to The Hill, the group is also expected to appear at an Aug. 10 campaign rally in Las Vegas. The endorsement follows LULAC’s report slamming Project 2025, which has been tied to Republican Party nominee Donald Trump, which they criticized for its “disproportionately” negative impact on Latinx Americans. LULAC’s report outlines 10…
he Delta Regional Authority and the U.S. Economic Development Administration awarded Higher Purpose Co. a $2.2 million grant. The Delta Regional Authority and the U.S. Economic Development Administration has received a $2.2 million grant to Higher Purpose Co., a Black-owned nonprofit in Mississippi that enhances the financial, physical, and cultural well-being of Mississippi Residents. The money will be used to develop the Higher Purpose Hub in Clarksdale “We are honored to receive this significant grant from the Delta Regional Authority and the Economic Development Administration,” said Dr. Tim Lampkin, founder and CEO of Higher Purpose Co, in a statement. “This funding will advance our…
Black-owned construction company, Choates Holdings, LLC, has partnered with Urban Icon International. A new partnership aims to bring Black Americans home to the motherland with state-of-the-art sports arenas and hotels in several African cities developed by a Black-owned construction company. Smith Choates Holdings, LLC and Urban Icon International have collaborated to continue both companies’ commitment to develop innovations in technology, community engagement, and economic growth. “Charles Choates formulated this whole vision of adding the sports and the NBA together in conglomerate with the hotel piece as well,” principal and CEO of Smith Choates Holdings, Darrell Choates Sr., said of his business partner during a…
For aspiring entrepreneurs, Thompson offers sage advice: ‘Get knowledge and experience in the business before you launch out on your own.’ Restaurant sales are projected to surpass $1.1 trillion this year, setting a new record for the industry. By the end of 2024, it is anticipated that over 15.7 million individuals will be employed in this sector in the United States, according to the National Restaurant Association’s 2024 “State of the Restaurant Industry” report. Black-owned businesses play a crucial role in the American economy, significantly driving growth and development across numerous industries. About 9% of restaurant firms are owned by…
In addition to giving Black-owned businesses prime real estate in their shop, Simply Pure also partnered with ButACake, a Black-owned concentrates company, to build out marketing displays at its stores. Tahir Johnson and Wanda James made history by partnering to push Johnson’s Simply Pure Trenton franchise into multiple states via a licensing agreement, bucking the popular trend of partnerships with established multistate operators. According to MJ Biz Daily, Simply Pure is believed to be the first Black-owned multistate retail operator. The business scaled up using outside investors and debt and equity deals, which Johnson described as the route that made the most sense…
The second quarter surge in the GDP could create more business activity for Black healthcare and affiliated businesses. Black firms in healthcare and related industries are among the enterprises that should benefit the most from a growing U.S. economy. Based on a report by William Michael Cunningham, an economist and owner of Creative Investment Research, those firms account for 28% of all Black-owned firms nationally in any industry, meaning that the Black business community typically does better when that sector expands. His analysis comes after the gross domestic product (GDP) doubled by surprisingly rising 2.8% in this year’s second quarter…
Access to capital has long been a significant hurdle for minority and women-owned small businesses. To help overcome this obstacle, the city of Frederick, Maryland, has introduced a new grant program that offers $400,000 in total funding. This initiative is designed to provide much-needed capital to startups and established businesses, supporting their growth and development. Eligible businesses can apply for grants of up to $40,000. The city has announced that preference will be given to firms located within city limits and minority and women-owned businesses. This program aims to foster a more inclusive and equitable business environment in Frederick, helping…
USDA Secretary Tom Vilsack told reporters the aid ‘is not compensation for anyone’s loss or the pain endured, but it is an acknowledgment by the department.’ After years of fighting against discrimination, Black and other minority farmers are set to receive $2 billion from the United States Department of Agriculture, according to an announcement from President Joe Biden. These farmers have long struggled against systemic barriers, including discriminatory lending practices, denial of access to federal aid, and unequal treatment in the allocation of resources and support from the USDA. This settlement aims to address the historical injustices and provide much-needed financial relief…
The celebration stvarted in 1974 with Harlem Day. Harlem Week recently began its 50th anniversary of celebrating the famed New York City community’s history and culture. It started Aug. 1 with a breakfast at Sylvia’s Restaurant, a famed soul food staple in Harlem. The party will continue through Aug. 18, with a line-up featuring hip-hop artists like Fabolous, Broadway show performances, and delights for foodies. With free admission for all events, this year will also offer health screenings at the Harlem Health Village and a children’s festival providing school supplies. The celebration started in 1974, with Harlem Day paying tribute…