San Francisco will divert $3.75 million from its law enforcement budget to programs assisting the city’s Black-owned businesses.
As reported by The Washington Examiner, The Office of Economic and Workforce Development will distribute funding to 17 community organizations. The goal of the initiative is to preserve small businesses in historically black neighborhoods.
“This funding is part [of] our efforts to undo the harm of generations of disinvestment and economic inequities,” Mayor London Breed said. “As we work to recover and make San Francisco a better place to live, work, and do business, we have to invest our resources in a way that lifts up and supports African American small businesses.”
Mayor Breed made the announcement in a statement Wednesday (May 5) saying, “Across this country, and in our city, we’ve seen how the Black community’s economic growth and prosperity has historically been disrupted and marginalized.”
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SOURCE: EURWeb, Ny MaGee