In 2020, a Black community in Massachusetts that was on the rise got hit with increased public health, economic, and social challenges related to the Covid-19 pandemic and racial reckoning during the summer. These events, compounded by existing health disparities and a growing wealth gap, proved to be devastating to the growth of Black communities. If left unaddressed by urgent and bold action, the long-term effects will not just harm Black people, but also the well-being of other communities overall.

We know that these disparities aren’t new. In 2015, the Federal Reserve Bank of Boston published its damning “Color of Wealth” report that highlighted Boston’s yawning racial wealth gap. Additional reports by groups like the Coalition for an Equitable Economy have reinforced the fact that entrepreneurs of color continue to face barriers, whether it be the dispersal of needed capital to grow their business or access to contracts to sustain them.

Reports like these are what compelled several hundred of the city’s Black residents, business owners, and other stakeholders to gather at the Prince Hall in late 2015 to organize and agree on a plan to permanently address these growing inequities. The result of this gathering and subsequent meetings led to the formation of the Black Economic Council of Massachusetts (BECMA), an organization committed to enhancing the economic well-being of Black businesses, organizations, and people across the Commonwealth.

Today, the organization represents the more than 2,000 Massachusetts-based Black firms that employ 17,000 residents and generate a collective $1.9 billion in revenue annually, all of which is reinvested into our local economy.

Last May, the murders of Ahmaud Arbery, Breonna Taylor, and George Floyd, as well as the righteous indignation that followed, prompted legislators, corporate leaders, and other statewide officials to make numerous statements supporting racial equity and the Black Lives Matter movement and ideology. While making it publicly clear that an individual stands with the principles of the movement is important, words alone will not bring about the change needed to ensure that our communities are vibrant and made whole.

That’s why BECMA released its “Massachusetts Black Economic Policy Agenda” earlier this month to guide the 2021-2022 state legislative session. The purpose of the document is to uplift policies that address longstanding issues head-on and create a new normal where the economic well-being of Black people in Massachusetts is no longer a concept, but our everyday reality.

As our communities continue to face the impacts of a once-in-a-century pandemic, an economic downturn, political unrest, and structural racism, our state must continue to prioritize racial equity in all of our discussions regarding the recovery and growth of our neighborhoods and support policies that:

1. Invest in our businesses and entrepreneurs - Though Black and Latinx people now make up more than a fifth of the Commonwealth’s population, they own just over 3 percent of businesses with employees — less than half the national rate. The state should make more startup capital available to entrepreneurs of color and support our effort to create a public bank, leveling the playing field.

2. Empower our workers and leaders - Black Americans, who were among the hardest hit by Covid layoffs, are now recovering at the slowest rate. Legislative solutions to address these issues should aid employees in their efforts to advocate for better wages and pursue well-paid opportunities.

3. Develop today’s students and tomorrow’s workforce - Inequities in educational achievement and attainment, broadband and internet access, and workforce development impact not only Black residents, but the Commonwealth overall. Policies must expand resources and opportunities for the robust education, retention, and performance of preschool, K-12, college students, as well as for our workers.

4. Build equitable and sustainable green infrastructure - Black people continue to face the worst of environmental inequities — through poorer health conditions, property values, and quality of life. There must be a greater emphasis on the development of green energy infrastructure to mitigate the impact of rising carbon emissions and sea levels that also prioritizes connecting Black businesses and workers to these opportunities.
In addition to the bills outlined in the report, BECMA is also advocating for several line items in the FY22 state budget including:

• $10 million to fund the Small Business Technical Assistance Grant Program;

• $3 million to fund the expansion of the Supplier Diversity Office;

• $7.4 million to fund the Early College Initiative, which ensures greater participation in college programming by students of color and low-income students;

• $15.4 million to fund the Career Technical Initiative, which will help train an additional 20,000 skilled trades workers over the next four years.
The pandemic has reminded all of us that the development of some communities cannot coexist with the underdevelopment of others. That’s why it is critical that policymakers embrace these policy principles and work to uplift Black communities, entrepreneurs, workers, advocates, and leaders to meet the moment we’re in.

Segun Idowu is the president and CEO of the Black Economic Council of MA (BECMA).