black wealth

Spanning across the Charles River, there are many bridges — physical and metaphorical. Now there’s a new link as the cities of Boston and Cambridge are, together, aiming to increase opportunities for diverse businesses in an agreement between the two municipalities, announced last week.

Discussions about closing the Black wealth gap often focus on aspects of personal wealth building, such as financial literacy or savings and investment. The implication is that the gap is due to a lack of effort and financial education.

If Black Bostonians are to have a continued presence in this city, it is imperative to unlock Black Boston’s wealth. We know the statistics. Boston Black homeownership dropped to 30% post-COVID from 34% in 2019 and Black wages have stagnated for the past 30 years.

The Tulsa Massacre and Elaine Massacre underscore America’s legacy of excluding Blacks from opportunities to acquire wealth.

Under Greater Boston Chamber of Commmerce president Jim Rooney, the influential business organization has another revolution in mind – this one a fundamental change in commercial opportunity for people of color in a nation undergoing a broad racial reckoning.