Heard on the Street – here’s what we were reading last week:
Extensive Data Shows Punishing Reach of Racism for Black Boys: “Black boys raised in America, even in the wealthiest families and living in some of the most well-to-do neighborhoods, still earn less in adulthood than white boys with similar backgrounds, according to a sweeping new study that traced the lives of millions of children.”
Just Good Business – An Investor’s Guide to B Corps: A new report from the Yale School of Management shares why B Corporations represent a new opportunity for impact investors, which have to adhere to social and environmental performance and accountability standards.
High-stakes race for tax breaks that could help low-income communities: State officials recently submitted select communities to be designated as Opportunity Zones, as laid out in the Tax Cuts and Jobs Act to incentivize investors to put their money in distressed parts of the country. Maurice Jones of LISC and Rip Rapson of the Kresge Foundation share their hopes for the program based on their decades of experience in equitable community investment.
Leveling the Playing Field in City Contracting: “Mayors, council members and agency staff who want to cultivate more equitable economies are realizing that the vast majority of local government contracts go to business owners who don’t reflect the demographics of the cities in which they work.”