Economic Impact of Inequality
October 13, 2020
Estimates show that our region’s economy has the potential to grow by as much as 12% and generate an additional $28 billion annually by reconciling gaps in economic equity that have historically limited people of color full participation in the economy. By 2050, Michigan stands to gain $92 billion in economic output by closing the racial equity gap.
To get there, each of us has the responsibility of advancing racial equity within our circles, workplaces, and communities. For years, the Detroit Regional Chamber has led programs and initiatives to make education more equitable for Detroiters, empower neighborhoods and entrepreneurs, advocate for fair and equal legislation and transportation options, and embrace the critical conversations on our stages with national thought leaders and local business, government, and civic leaders.
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An Equal, Equitable, and Inclusive Detroit Region Will Improve the Economy