CIAA Boosts Bottom Line for Black Business
By J. Smith
Once again proving the buying power of African Americans, the Central Intercollegiate Athletic Association (CIAA) is known for bringing together upwardly mobile blacks for tournaments, while simultaneously having a major economic impact on black businesses in its host city, Charlotte, North Carolina.
The Root reports that the tournament accounted for $24 million in direct spending last year, with a total economic impact of more than $37 million in a one-week period in 2010. Black entrepreneurs in the travel and entertainment business are finding this especially lucrative.
A board member from the Charlotte Regional Visitors Authority said in a press conference that the economic impact is up from $15 million when Charlotte became the host city in 2006, and the conference has had a huge impact on job creation with North Carolina Employment Security Commission showing growth in the leisure and hospitality industry.
This year CIAA will host alumni from 12 historically blacks colleges and universities, contributing to the bottom line of the city and its businesses, especially those that are black-owned, The Root reports. Thousands of others with no ties to the schools or league will also be in Charlotte for the festivities.
How refreshing is it to hear that black business is being supported and on such a large scale? Although the city has a contract to host the tournament through 2014, it would be nice to see this kind of economic stimulus within the black community benefit other cities, especially struggling ones like Detroit. Just a suggestion!