According to analysis by The Data Center, the racial pay gap in New Orleans is the major contributor to 31% of Black residents living in poverty compared to approximately 10% of white residents. U.S. Census data indicates too that Black residents are less likely to be homeowners, and that their houses are worth about half as much as the average white homeowner. The great irony of the city’s thriving $10 billion tourism economy is that it’s driven by low-wage workers who do not earn a living wage. This disparity in the city’s most lucrative industry fuels economic development for some but for others reinforces generational poverty.
We believe in policies that foster robust public investment—in infrastructure, transportation, education, health, and economic stability. Candidates must work to support the direction of investment dollars and opportunities toward under-served communities and small-business entrepreneurs. We need leaders who understand that private success depends on equitable public investment and that this investment can lead to sustained economic growth.
We will back candidates who believe that by providing livable wages for our local labor force, there will be profitable growth opportunities for both employers and employees. And, there will be tax revenues for maintaining an infrastructure to support this continued growth.
Predictable, sustainable incomes and economic stability will pave the way for generational wealth that can be enjoyed by all New Orleanians We will endorse candidates who promote financial literacy programs in the schools, as well as wealth-building and debt-reducing strategies for adults. Our goal is to see an increase in minority homeownership and other assets that will be transferred generationally.
Are you, or a family member, an entrepreneur, a small business owner, or a job seeker? Are you interested in building a sounder financial safety net for your family? If so, join us as we hold our government leaders accountable for strengthening our local economic community.