African American Strategic Planning Group (AASPG)
Individual & Community Wealth Building
Significantly improve the economic status and wealth of African Americans at all levels.
Objectives: Increase the following rates for African Americans to levels comparable with the general community
Incomes such that the poverty rate decreases from 34% to 14% of less
Per capita income from (1990) &8,072 to $15,324 or more
Ratio of income to white-males from 45% to 100% or more
Double total household incomes from (1990) &914,396,160 to $2 Billion or more.
Home ownership rates from 42% to 69% or more.
1. Develop a long-term comprehensive strategy to significantly improve the economic status and wealth of African Americans at all levels. These must include individual and community wealth building strategies, and strategies that promote entrepreneurship and business development within the African American Community.
2. Develop strategies and programs, which promote individual wealth building and financial independence. Proved technical assistance to educate African Americans on the importance of individual wealth building based on sound personal financial planning and management.
3. Convene a forum of black Church leaders to consider the potential for a coalition of Black churches on economic development.
4. Convene a forum of African American professionals to consider the potential for collaborations, coalitions and other initiatives to promote individual and community wealth building and economic development.
African American Business Development
Significantly increase the number, mix and size of operation of African American businesses.
Objectives: Increase African American Business
Average annual sales receipts by 50% or more
Types and Mix (by increasing numbers in all categories) by at least 10% - particularly professional and technical service