America's Economic Shifts Risk Widening Racial Wealth Gap, But Offer Opportunity for Inclusive Growth Through Public-Private Partnerships
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America's new industrial revolution is creating a procurement economy that risks worsening the racial wealth gap.
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The economic shifts implicate thousands of small and medium enterprises, yet projects are dominated by a small number of large firms.
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COVID-19 dealt blows to minority-owned businesses; they remain underrepresented across growth sectors.
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We must reform public purchasing, engage corporations, build partnerships, and develop innovative financing to support diverse suppliers.
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This moment offers a massive opportunity, but we must act urgently to promote inclusive growth.