Contributed
You nominated Cincinnati’s best Black businesses and you voted for the winners. Now it’s time to celebrate the winners and all of our Black businesses. The Cincinnati Herald invites you to come out for an afternoon of fun, food, music, awards, and excitement at the Cincy Power Awards Gala on Sunday, February 16, 2025 from 3 – 6 p.m.
The Greater Cincinnati and Northern Kentucky African American Chamber of Commerce commissioned a study with the University of Cincinnati Alpaugh Family Economics Center for the Greater Cincinnati on Black-owned businesses in the region. The results were astounding.
The report found that the economic impact of Black-owned businesses in Southwest Ohio and Northern Kentucky was more than $2.8 billion in 2023. That figure included $1.5 billion in direct sales in 2023 and more than 9,000 jobs, plus an additional $1.4 billion in indirect sales, which indirectly supported another 7,448 jobs. Eric H. Kearney, AACC president, said, “I would like to see Black-owned businesses spread out and appreciate all of the opportunities and growth that’s available in Ohio.”
Cincinnati Herald Publisher Walter L. White said, “We used to do a ‘best of Black Cincinnati’ contest in print years ago. This year, we decided to try something new – a gala to honor and promote the growing number of Black-owned businesses in the region. They are the backbone of this economy!”
White added that the AACC’s economic impact study and events such as the Cincy Power Awards should pave the way for more investors and easier access to capital for Black-owned businesses.
Kearney said that business ownership provides an opportunity for African Americans to build wealth. The AACC’s economic impact report pointed out that the median net worth for Black or African American families is $24,100, and this figure is 7.8 times lower than the median net worth of White families in 2019.”
Kearney said we need all of our businesses to thrive – that means, Black, Latino, Asian, and women-owned businesses. “Thriving businesses means that there are more job opportunities, schools get better, and neighborhoods get better.
White said, “And here’s another reason to come on out to the Cincy Power Awards Gala: It’s going to be a fun time to network, meet new people, eat some good food, hear Soul Quest perform, and celebrate!”
View the full list of winners at CincyPowerAwards.com
For tickets to the star-studded gala, go to CincyPowerAwards.eventbrite.com