ALANA Community Brain Trust – African Latino Asian and Native American (ALANA) – is a multiethnic network of individuals and organizations launched in June 2020, after the death of George Floyd. Working to grow capital and build capacity in our ALANA communities, we convene individuals and organizations to advocate, develop and help implement policies and programs to build shared sustainable economic prosperity for all, through research, collaborative action, and economic development.
Over the past few months, we have engaged with the Federal Reserve Bank of Minneapolis, Minnesota’s Congressional Delegation, the SBA, DEED, the Governor’s Office and most recently our recommendations (Minnesota Solutions) were integrated into the report of the Minnesota House Select Committee on Racial Justice. Our policy advocacy for dedicated funding for ALANA businesses and ALANA CDFIs and microlenders is also reflected in the recent changes to the PPP program approved by Congress and the organizing of a banking alliance to help ethnic and minority owned businesses gain more technical assistance and success in the PPP loan process.
House Select Committee on Racial Justice issues new report (December 2020) with recommendations to dismantle systemic racism: click here.
For centuries, systemic racism has contributed to stark and persistent racial disparities in health, education, public safety, and wealth and financial well-being. These disparities can be traced back to government-sanctioned laws and policies that have created a system built on racial inequality where inequity is entrenched in our systems. Government-sanctioned racial discrimination created these inequities and only racially conscious policies can address the inequities. Each year that goes by without addressing systemic racism costs our state and nation billions of dollars. It is imperative on the Minnesota Legislature to make amends for past and present harms by prioritizing the enactment of laws and policies designed to address racial disparities and expand access to opportunity to build a prosperous state for all Minnesotans. The recommendations set forth are an important step in addressing our state’s persistent disparities and providing the opportunity to build a more prosperous Minnesota.
Economist Dr. Bruce Corrie’s research on racial disparities estimates BIPOC Minnesotans have lost an estimated $287 billion dollars. This includes a $22 billion loss in income because of the wage gap, $174 billion loss in lifetime earnings because of educational opportunity and skills gaps, $24 billion loss in homeownership, higher rent burdens and higher property taxes, and $67 billion loss in business revenue because of the capital gap. Continued failure to confront racism will continue to perpetuate a racial wealth gap and a less prosperous Minnesota. Dr. Corrie presented these findings and recommendations to the House Select Committee on Racial Justice in October 2020. Bruce continues to present these and more research during the current Legislative session.