In Georgia, the Black Community is Droppin’ Dollars

May 9th, 2012 - By Charlotte Young

http://www.blackenterprise.com

For years Georgia has seen a multitude of black success. Centering in Atlanta, African Americans have succeeded in business from Tyler Perry’s studios to the Black Beauty Institute that strives to encourage more African Americans to take ownership of black beauty supply stores. Although the black community may have seen a dip in its economic stronghold during the recession, a new report shows that African Americans are bouncing back.

According to Public Broadcasting Atlanta, Georgia is the fifth largest African American Consumer Market in the US. A new report from the University of Georgia observes that the numbers have seen a growth. UGA’s director of economic forecasting, Jeff Humphreys says that black buying power has increased from $66 billion in 2010, to $73 billion a year. Black Georgian consumers spend 22 cents of every dollar compared to 8.5 cents nationwide.

He attributes the increase to several factors, including population growth, higher education and entrepreneurship among African Americans living in Georgia.

“So this is a very compelling market for companies targeting African-American consumers, whether with existing products, product development or advertising,” Humphreys said to Public Broadcasting Atlanta.

Now that African Americans in Georgia have the buying power, let’s hope they’re spending the money in the right way with black businesses so that the money stays in the community.

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  • JustSayin

    That’s what’s up. Now, if only the black folks in the DC area would follow suit.

  • Candacey Doris

    I would be pleased to read about this if the money we were spening wasn’t going to things like spinners, more clothes than we have room for or new cars when the old one is only a year old. How about buying houses, businesses and schools. How about supporting those of us that do have businesses. When Asians and hispanics move into an area they support each other. America is all about white people supporting each other, so why can’t we get the memo?

    • FromUR2UB

      You forgot hair.  The poorest of black people find money to buy some hair.  Everybody is supporting their own and making money off us, except us.  

  • DoinMe

    Yes honey! We love to flaunt, front, and spend spend spend spend in the Atl. Now how much of that money is going back into the pockets of our community is another story considering the large number of black-owned businesses in GA/Atl.

  • Gimmeabreak78

    We all know that black people are huge consumers.  For me, that’s nothing to brag about because we spend the money outside of our communities.  Get back to me when we are the biggest owning or manufacturing community. 

    • Mzcali310

      I swear I was about to say the say thing. We are a powerhouse when it comes to consuming but we own only a fraction of what we consume and that’s evident in our communities because that revenue is not being circulated back in to it. We will allow everyone else to make money off us before putting our own money together and actually become owners. They take our money and disrespect us at the same time. It’s a shame that people come to this country and won’t know two words of English but already have a business up and running. We let foreigners in our community monopolize things we largely consume and won’t bat an eye. Now go into your local Chinatown or Koreatown and see how many black own businesses you find. I can almost bet my life that you will see NONE. We are the only ones with our eyes shut. Money is power in America and we give ours away so willingly.

  • jlin

    C’mom Charlotte.  I wanted to forward this article but did you not catch the mistakes.  $66 billion to $73 million?