Business and nonprofit leaders, impressed with some recent results in north Minneapolis, are aligning efforts to ramp up training and employment for people of color in hopes of igniting economic growth and spreading wealth throughout the Twin Cities.
The collaborative Center for Economic Inclusion (CFEI) is expected to launch Friday at the Greater MSP "Critical Issues Forum." It will include a charge from employers, trainers, fundraisers and a growing group of other stakeholders to close the employment and wealth gaps for minorities by improving access to transit systems and training while addressing the growing demand for talent and the quest for opportunity.
Tawanna Black, the business and foundation veteran who has run the Northside Funders Group since 2013, started CFEI this year.
"No one in the country has figured this all out," Black said last week. "But we know that some things are working and we all need to be at the table.
"The data says if we work to close the income gap with whites, our regional economy would have been $32 billion-plus greater than it is now. We are at $248 billion in the Twin Cities area. This is not just about job-training programs. Our success will be measured by income and wealth parity."
Black has been coordinating and measuring human development work among nonprofits for business and foundation partners who are focused on helping low-income households become more self-sufficient. The broader scope, and there's research backing this, is that when those with the least do better economically through personal development, training, employment and housing, we all do better.
Moreover, more than 60,000 people of color could be added to the metro-area workforce by 2022 if employment and labor-force participation equaled that of whites, according to a 2017 report by RealTime Talent & MSPWin.
Our economy is among the strongest, and our unemployment rate among the lowest in the country. However, the Twin Cities also boasts high racial disparities in education, employment, income and homeownership. Business and civic leaders have concluded that we cannot succeed as a region until more people are empowered, trained and economically advanced.