Long Island Community Foundation-Backed Report Finds Racial Inequities Cost LI’s Economy Billions Each Year
Long Island’s economy could have had an infusion of $24 billion in 2014 alone were it not for racial inequities resulting in an income gap faced by African-American residents, according to a report released Monday by the Urban League of Long Island.
If such inequities were eliminated, the report said, black Long Islanders would see their average annual income increase by just more than $22,000, growing from $33,600 a year to $56,300 a year.
The report’s authors, along with leaders from a cross-section of government, business and community groups, emphasized that the region’s overall economy would be much stronger if barriers in education, health and housing that adversely affect black residents are eliminated. About 200 people gathered at the Long Island Marriott in Uniondale to discuss the findings...