Economic Development.
A chance to live the American Dream for all
Garry A. Johnson
NAACP New York State Conference Economic Development Chair
Email: garryajohnson@gmail.com
Every person will have equal opportunity to achieve economic success, sustainability, and financial security. The NAACP Economic Department recognizes the importance of the economy and economic issues in advancing an equal opportunity society and aims to address the challenging economic realities facing our country including poverty, lack of jobs and disproportionate high unemployment, lack of affordable housing, foreclosures, etc. The NAACP Economic Department’s work enhances the capacity of African Americans and other underserved groups through financial economic education; individual and community asset building initiatives; diversity and inclusion in business hiring, career advancement and procurement; and monitoring financial banking practices.
The Goals of the Economic Department include:
Empowering local communities with the necessary education, resources and partnerships to develop sustainable economic models that advance diversity and equity.
Ensuring that government and industry are knowledgeable, and committed to bridging racial inequality particularly as it relates to employment, wealth, lending and business ownership.
Growing a movement of concerned citizens and organization who work together to produce an inclusive and strong middle class economy for the 21st century.
GRANTS
NAACP believes in the power of Black entrepreneurship. We partner with several organizations to provide grants for Black-owned businesses.
Testimony to the NYC Charter Review Commission
It has been over 10 years since the enactment of Local Law 1 of 2013 which established the Minority and Women-owned Business Enterprise (MWBE) program in New York City. According to the City’s own data, in 2023, the city awarded $1.42 billion to MWBEs, which represents 27.9% of contract value subject to the local law. However, in the same fiscal year, the city procured over $41.1 billion dollars of goods and services, which means that the amount spent on MWBEs compared to total spend was less than 3.5%. And note that the $1.42 billion was divided among women-owned firms as well as Black, Latino and Asian. Looked at another way, $39.7 billion out of $41.1 billion was spent According to the latest census data, our diverse city is 31% white, 29% Latino, 23% African-American and about 14% Asian. Therefore, in simplest terms, 96.5% of contract awards went to a group that represents 31% of this city’s demographics….
Offshore Wind Open House & Union Apprenticeship Awareness Day
All ages welcome
Food and refreshments
Registration encouraged
Walk-ins welcome
Stony Brook University Research & Development Park Center of Excellence in Wireless and Information Technology (CEWIT) 1500 Stony Brook Road, Stony Brook, NY 11794
Offshore Wind in New York.
To help meet New York’s nation-leading renewable energy targets, NYSERDA issues competitive solicitations for offshore wind energy and contracts with offshore wind developers to purchase offshore renewable energy certificates (ORECs).
Mark Your Calendars for these Upcoming Offshore Wind Open House Events
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No Upcoming Events
Small Business Resources
Sedhom Law Group is here to help growing businesses. Contact Sedhom Law group for more information as to how they can help your business grow.
Businesses are now eligible to receive up to 500 scholarships to make in-demand skills accessible to employees. With Google Career Certificates, you can prepare employees for careers in the fast-growing fields of data analytics, digital marketing & e-commerce, IT support, project management, and user experience (UX) design. Select the content best-suited to help employees gain new skills that can drive business goals.
Guava offers digital banking and a community, designed to serve Black entrepreneurs and small business owners.
Funding Opportunities for Small Business
The NAACP has partnered with BeyGOOD, Beyonce’s Foundation, to provide $10K grants for Small Businesses. The first round was announced on Tuesday 8/18, with 20 winners announced. Of those 20, the following are in New York City
The Dwana Smallwood Performing Arts Center, Brooklyn - https://dwanasmallwoodpac.org/
Humble School of Martial Arts, Brooklyn - https://www.facebook.com/mastersabu
Curl & Co Hair Salon, Harlem - https://www.curlandco.studio/
Lee Lee Rugelah, Harlem - https://www.leeleesrugelach.com/
The full list of winners can be found here. Applications for the 2nd round of BeyGOOD and NAACP grants begin in September. Click here to learn more.
The NAACP is also working with Wells Fargo regarding a $400 million initiative they have rolled out. Local CDFIs such as LISC and others will be funded by Wells Fargo, who will in turn issue grants and loans to Small Businesses. More information to follow.
Small Business Administration
Economic Injury Disaster Loans (EIDL) are available to small businesses and non-profits. These 30-year, low interest loans (3.75% for profit businesses, 2.75% for non-profit) can be applied for by Corporations, LLCs, LLPs, Sole Proprietors, and Independent Contractors. If your information is entered correctly and you are organized prior to submission, you have a very good chance of approval. A $75K loan would be a repayment of approx. $365/month. Over 7M applications have been received, and 3.5M have been approved for over $136B. There is $164B remaining in funding for the EIDL loans.
The New York Loan Fund is providing working capital loans so that small businesses, nonprofits and small landlords have access to credit as they reopen. These loans are available to small businesses, nonprofits, and small landlords that did not receive a loan from either the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) or SBA Economic Injury Disaster Loans (EIDL) for COVID-19 in 2020. The loans are not forgivable in part or whole. The loans will need to be paid back over a 5-year term with interest.
NAACP NYS 84th Annual Convention Criminal Justice Workshop
