MBN USA Portal

MBN USA

March 24, 2023

The event examined ways to advance work, wages and wealth

New York, NY – The Black Economic Alliance (BEA), a nonpartisan coalition of Black business leaders and aligned advocates, recently hosted its inaugural Solutions Summit. The event featured leading decision-makers from across business, government, and philanthropy highlighting and building consensus on leading solutions to advance Black economic prosperity and wealth-building.

CEOs, policymakers, and on-the-ground practitioners discussed ways to center Black work, wages, and wealth in sessions on bolstering entrepreneurship, securing fair and affordable housing, and the critical role of workforce development. Participants also focused on the importance of federal, state, and local-level implementation and the private sector’s role in driving change.

“BEA was built on its ability to harness the firepower of Black business leaders to expand Black economic power. With our first Solutions Summit, we saw what is possible when you bring together leaders from across business, government, and philanthropy in true support of Black economic prosperity,” BEA CEO Samantha Tweedy said. “This event marks a milestone in our collaborative efforts to advance actionable, evidence-based solutions proven to expand work, wages, and wealth for Black Americans. That shared dedication to re-envisioning the systems that have historically suppressed Black economic power is at the heart of our work, and we’re committed to getting this right - together.”

The Summit’s action-oriented discussions and knowledge sharing will inform BEA’s forthcoming Architecture for Action –– a curated, data-driven framework designed to guide leading decision-makers in both the public and private sectors to assess potential economic equity interventions and investments through a lens specifically focused on long-term gains in economic outcomes for Black Americans.

The day-long Summit included insights from a coalition of prominent leaders, including Ambassador Susan Rice, Minority Leader Hakeem Jeffries, Bank of America CEO Brian Moynihan, former Massachusetts Governor Deval Patrick, Ariel Investments Founder and CEO John Rogers, and Kwasi Mitchell Chief Purpose Officer of Deloitte, about effective strategies and policies that are improving economic outcomes for Black Americans across the country. The event was supported by Deloitte, Bank of America, Capital One Insights Center, AARP, Apple, and Bloomberg Philanthropies.

“BEA is an engine for collective action to expand work, wages, and wealth for the Black community. We need more events like the BEA Solutions Summit to create the change we want to see and drive actionable outcomes,” said Kwasi Mitchell, Chief Purpose Officer at Deloitte. “Deloitte is proud to have helped bring together cross-sectoral thought-leaders who share our commitment to financial inclusion and I look forward to the progress we can make together.”

“The inaugural Black Economic Alliance summit addressed long-standing problems by discussing real and sustainable solutions. Bank of America is pleased to have helped bring this group of impressive leaders together and move these critical issues forward,” said Ebony Thomas, Bank of America Charitable Foundation President.

Since 2018, BEA has collaborated with leaders across sectors to drive action and investment to expand work, wages, and wealth for Black Americans. Uniting a diverse range of stakeholders and building consensus around data-driven, evidence-based solutions, the Solutions Summit carries this work forward under BEA’s new, unified structure, amplifying the organization’s impact and strengthening its ability to drive meaningful change for Black economic prosperity.

###

About the Black Economic Alliance

The Black Economic Alliance is a coalition of Black business leaders and aligned advocates committed to driving economic progress for the Black community through public policy, advocacy, and engagement with government and business leaders. Led by a board that includes executives from a range of industries including media, finance, pharmaceutical, nonprofit, and tech, BEA uses its collective power and business acumen to advance policies that will improve work, wages, and wealth for Black Americans. | https://blackeconomicalliance.org/