In 2017, the Institute for Policy Studies and Prosperity Now published a report stating that “if the racial wealth divide is left unattended,” then the median wealth for black Americans will fall to $0 by 2053.
But that was before COVID-19. Given how the pandemic has exposed and exacerbated American inequality, that day may come sooner than we think.
Over the past several months, we’ve seen the real estate market get tight in the Hudson Valley as people from New York City and elsewhere fled to the area in retreat from the Coronavirus. Months into the pandemic, many of those moneyed migrants are staying and buying up the local housing stock—and the primary way that most Americans build wealth—as they do.
For some of the most vulnerable, without wealth or employment to tide them over, it’s entrepreneurship that offers them the chance to stay afloat.
In the spirit of supporting this sector of our business community, here is the second installment of our Black Women-Owned Business Directory.
As you find yourself in need of particular goods and services over the coming months, I hope this directory will help keep your dollars local and bolstering the Hudson Valley’s economic health and social strength.