This week, at the Congressional Black Caucus Annual Legislative Conference (CBC ALC), we are proud to launch the Black GDP Report — a groundbreaking analysis that quantifies the economic contributions of Black Americans to the U.S. economy.
For decades, policymakers, investors, and business leaders have overlooked the measurable economic power of Black communities. By applying the proven framework of the Latino GDP model, this new report captures the size, scale, and trajectory of Black economic activity—shedding light on both its resilience and its untapped potential.
Key Findings
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Black GDP (2023): $1.6 trillion, comparable to the Canadian economy.
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Black Purchasing Power: $1.8 trillion in 2023, driving growth in housing, retail, technology, and cultural industries.
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Entrepreneurship: Over 3.5 million Black-owned businesses employ 1.2 million people and generate $200 billion annually.
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Labor Market Role: Black workers make up 13% of the U.S. labor force, concentrated in health care, education, transportation, and public administration.
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Regional Impact: In states such as New York, Georgia, Texas, Florida, and California, Black economic activity accounts for 10–15% of GDP growth.
Why This Matters
The Black GDP Report is more than numbers. It is a framework for equity, recognition, and opportunity. Just as Latino GDP has reshaped the national conversation about Latino economic power, Black GDP establishes a data-driven foundation for understanding how Black communities sustain and expand U.S. prosperity.
If the U.S. economy grew at the same pace as Black GDP between 2015 and 2023, national GDP would be trillions of dollars larger today. Closing the racial wealth gap is not just a moral imperative — it is an economic necessity.
A Call to Action
Launching this report at the CBC ALC is intentional. The Annual Legislative Conference brings together leaders who are committed to advancing racial and economic justice. We believe the Black GDP framework will help:
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Policymakers design inclusive strategies that expand opportunity.
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Investors identify overlooked markets and scalable ventures.
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Businesses engage with Black consumers and entrepreneurs driving growth.
By recognizing the true scale of Black economic contributions, we can design policies and partnerships that unlock the next era of inclusive prosperity.
Looking Forward
The Black GDP Report is only the beginning. Future editions will provide state-level forecasts, industry deep-dives, and analysis of policy shifts. By measuring and amplifying Black economic power, we strengthen not only Black communities but the entire nation.
Black GDP is America’s GDP.