02-04-2025
Diverse Erie impact study shows BIPOC community investments yield benefits
An economic impact study on Diverse Erie recently found that in its first three years of supporting Erie's BIPOC community, $3.5 million in investments totaled $5.7 million in revenue.
The external study was conducted by Parker Strategy Group.
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They found that investments have sustained 32 jobs, generating more than $193,000 in local and state tax revenue.
That means for every $1 invested, about $1.63 has been returned.
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'We're the only commission in the country that is taking arpa money, American Rescue Plan dollars, to invest in businesses of color so that we can continue to grow the economy locally, statewide, and nationally. Our model is one that is really setting the tone for the rest of the country,' said Gary Lee, chief administrative officer of Diverse Erie.
Lee said they expect the businesses they've invested in to continue to grow, adding even more jobs to the workforce.
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