Research shows Black-owned businesses in Cincinnati and Northern Kentucky are booming

CINCINNATI (WKRC) – The Greater Cincinnati and Northern Kentucky African American Chamber of Commerce (AACC) announced the findings of a new study conducted by researchers at the Alpaugh Family Economics Center at the University of Cincinnati. “It’s important because people speculate on the impact of Black-owned business, but we got real data so we can support these businesses, so people know Black- owned businesses provide a real impetus to the local economy,” shares the CEO for the Greater Cincinnati & Northern Kentucky African American Chamber of Commerce, Eric Kearney. The research highlights the significant economic and fiscal impacts of Black-owned businesses in Southwest Ohio and Northern Kentucky. “Any time you can identify businesses and quantify the impact, you set the baseline,” shares the Co-executive director of the Alpaugh Family Economics Center, Brad Evans. In 2023, Black-owned businesses in Southwest Ohio and Northern Kentucky generated approximately $1.5 billion in direct sales and employed 9,024 people with earnings totaling $341.2 million. These businesses supported nearly $1.4 billion more in indirect sales, supporting 7,448 jobs with $293.8 million in earnings. Overall, Black-owned businesses contributed more than $2.8 billion in total sales, directly and indirectly supporting 16,472 jobs with $635.1 million in total earnings....