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UC study: $1.4 billion economic impact of Black-owned businesses in the Cincinnati region Feb 5, 2021
Members of the African American Chamber of Commerce and supporters: Morgan A. Owens (far left), April Pope (front center), Jason Dunn (behind Pope), AACC President and CEO Eric H. Kearney (far right), and Roy Sutton (left of Kearney) among many other friends and community members. Photo provided
By Dan Yount
The Cincinnati Herald
The African American Chamber of Commerce, in partnership with University of Cincinnati Economics Center, did a study, which shows that Greater Cincinnati Black businesses had a $1.4 billion economic impact. This is the first study in the nation by a chamber of Commerce to quantify the economic impact of Black businesses.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
$1.4 Billion Economic Impact of Black Businesses in the Cincinnati Region
African American Chamber of CommerceJanuary 28, 2021 GMT
CINCINNATI, Jan. 28, 2021 (GLOBE NEWSWIRE) As it celebrates its 25th anniversary, the Greater Cincinnati and Northern Kentucky African American Chamber of Commerce (AACC) announced, at today’s annual meeting, the results of a groundbreaking study. The analysis, in partnership with UC Economics Center, shows the Greater Cincinnati Black businesses included in the analysis support more than $1.4 billion of operations expenditures and are responsible for directly employing 8,680 people with $540 million in earnings throughout the Cincinnati Metropolitan Statistical Area (MSA). Additionally, earnings by Black-owned businesses generate approximately $6.2 million in sales tax to the states of Indiana, Kentucky, and Ohio and an additional $1.2 million to the fiv
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The analysis by the UC Economics Center was commissioned by the Greater Cincinnati and Northern Kentucky African American Chamber of Commerce (AACC). It s thought to be the first study of its kind in the nation.
AACC President and CEO Eric Kearney says the findings are cause for celebration. This impressive analysis from the UC Economics Center shows a robust number of growing enterprises, jobs created, and communities positively impacted by our Black businesses, says Kearney. It shows the importance of Black businesses in the Greater Cincinnati region; that our businesses are really contributing to the quality of life and the economy, so that s good news. It also says to me that we have some work to do to move that number up.
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