State of New York Archives: on Welfare & Poverty

Al Gore: Investing in inner cities is good deed & good business

Investment in our inner cities is not just a good deed, it is good business,“ Gore told a gathering of business & community leaders. Gore said many black and Latino communities across the nation have been left out of the country’s economic prosperity because of ”the cumulative impact of many generations of diminished opportunity, discrimination & barriers that have impeded progress.“ Gore cited statistics that, on average, the wealth of African American families is just 11% that of the average white family; for Latinos the figure is 10%. As a result, he said, many bright young Latinos or African Americans with good entrepreneurial ideas can’t rely on relatives to help finance a first business, and thus abandon their dreams. “We’re missing out in America, because when a young entrepreneur has a good idea, that individual is going to create more jobs in the community, more wealth in the community, more investment by the people who live in the community in the future of that community,” Gore said.
Source: Elizabeth Shogren, N.Y. Times Staff Writer Apr 16, 2000

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Page last updated: Mar 29, 2014