President Biden Spotlights Black Business Success in Milwaukee
President Joe Biden recently visited Milwaukee, Wisconsin, highlighting the significant growth of Black-owned businesses in the area. This visit underscores the White House’s commitment to supporting and promoting diverse business communities.
Celebrating a ‘Black Small Business Boom’
During his visit, President Biden celebrated what he described as a “Black small business boom.” He attributed this success to his economic agenda, which has reportedly led to a surge in Black business ownership. According to the White House, the rate of Black business ownership has grown at its fastest pace in 30 years, with the share of Black households owning a business doubling between 2019 and 2022. Furthermore, Black wealth has increased by a record 60 percent since before the COVID-19 pandemic.
Supporting the Community through Entrepreneurship
The president’s visit included a stop at the Milwaukee Black Chamber of Commerce. There, he discussed the significant strides made in Black business ownership and entrepreneurship. Biden was joined by the founder and owner of Hero Plumbing, a Black-owned small business in Milwaukee that contributes to the community by removing lead pipes. This initiative aligns with Biden’s commitment to remove all lead service lines across the United States, emphasizing the role of local businesses in achieving national goals.
Federal Support for Local Initiatives
In his remarks, President Biden announced that the Grow Milwaukee Coalition is among the 22 finalists for the Department of Commerce’s Economic Development Administration Distressed Area Recompete Pilot Program. Funded by the CHIPS and Science Act, this program aims to invest in economic opportunities in communities that have been particularly hard-hit. The inclusion of the Grow Milwaukee Coalition in this initiative indicates federal recognition and support for local efforts to revitalize and strengthen the business sector.
Political Context
The White House also highlighted the political context surrounding these achievements. They criticized Republicans for opposing the President’s small business agenda and noted that every Republican voted against the 2021 American Rescue Plan. This plan played a crucial role in providing funding to support small businesses, underlining the political challenges in implementing these economic strategies.
President Biden’s visit to Milwaukee serves as a testament to the growing importance and success of Black-owned businesses in America. It underscores the administration’s focus on fostering an inclusive economy where businesses of all backgrounds can thrive. The visit also highlights the critical role of federal support and policies in empowering local entrepreneurs and communities, thereby contributing to a more robust and diverse national economy.
