$1.4 Billion Economic Impact of Black Businesses in the Cincinnati Region

By: Rich Walburg

As our nation celebrates Black History Month, the Greater Cincinnati and Northern Kentucky African American Chamber of Commerce (AACC) is recognizing its 25th anniversary. It’s doing so with the results of a groundbreaking study, the first in the nation by a Chamber of Commerce to quantify the economic impact of Black businesses.

The analysis, in partnership with UC Economics Center, shows the Greater Cincinnati Black businesses included in the analysis support more than $1.4 billion of operations expenditures and are responsible for directly employing 8,680 people with $540 million in earnings throughout the Cincinnati Metropolitan Statistical Area (MSA).

Eric H. Kearney, AACC President and CEO

Eric H. Kearney, AACC president and CEO said that the “analysis shows a robust number of growing enterprises, jobs created, and communities positively impacted by our Black businesses.”

Additionally, the study shows that earnings by Black-owned businesses generate approximately $6.2 million in sales tax to the states of Indiana, Kentucky, and Ohio and an additional $1.2 million to the five Ohio counties (Brown, Butler, Clermont, Hamilton, Warren) included in the Cincinnati MSA.

“The results speak to the importance of Black businesses, now and moving forward, on Cincinnati’s regional economy,” said Christopher Nicak, UC Economics Center’s co-director of Research.

Jason Dunn, AACC Board Chair

Findings are from top industries in the MSA including professional, scientific, and technical services, construction, health care, and retail and wholesale trade.

Jason Dunn, the AACC Board chair, added, “We have the data, now let’s take out the emotion and determine how we address the disparities that prevent this number from being larger.”