Bloomberg Campaign Press Release - Mike Bloomberg's Greenwood Initiative Will Deliver Economic Justice for Black America

NEW YORK — Mike Bloomberg's sweeping Greenwood Initiative will help deliver economic justice and create generational wealth for Black Americans by addressing systematic bias and making strategic investments in communities and businesses. In doing so, Mike aims to triple the wealth of the median Black household and increase upward mobility.

Black America has suffered injustice for far too long. Where slavery ended, systematic bias quickly took its place and Black Americans were crowded into neighborhoods, denied credit, starved of public investment, and subjected to financial predators — and to a large extent, still are. The enduring legacy of this unconscionable history is reflected in the fact that, despite progress in closing education and employment gaps, the typical Black household remains almost ten times poorer than the typical white household.

Mike's plan will:

• Create generational wealth through homeownership
• Spur the creation of more than 100,000 new Black-owned small businesses
• Commit $70 billion in neighborhoods that need it most
• Address systematic discrimination by increasing access to fair housing and expanding and protecting voting rights

Read more about Mike's Greenwood Initiative here.