The African American Chamber of Greater Cincinnati/Northern Kentucky hired the Center’s research team to measure the economic impact of Black-owned businesses in the region. After collecting data on 800 businesses, the team estimated that impact as more than $1.4 BILLION.
This is the first such economic impact study of its kind in the country. Among the other key findings:
Black-owned businesses are responsible for employing 8,682 people with $540 million in earnings throughout the Cincinnati metropolitan area.
The report included 800 businesses, including professional, scientific and technical services, construction, health care and retail and wholesale trade.
Black-owned businesses generate $6.2 million in sales taxes to state governments in Indiana, Kentucky and Ohio and $1.2 million to the five Ohio counties in the metro area — Brown, Butler, Clermont, Hamilton and Warren.
“Imagine what that number would be if all of the obstacles were removed. We have the data, now let’s take out the emotion and determine how we address the disparities that prevent this number from being larger,” said Jason Dunn, chairman of the chamber’s board. “As we celebrate our 25th year, our focus is towards the next generation of entrepreneurs and building on this foundation to ensure our region is competitive.”