'The Business Case for Racial Equity in Michigan'

'The Business Case for Racial Equity in Michigan'

Given that people of color account for 24 percent of Michigan's population, reducing racial inequities will not only improve life outcomes for groups that are directly affected by those inequities but also boost businesses in the state and overall economic performance, a report from the Altarum Institute and the W.K. Kellogg Foundation argues. According to the report, The Business Case for Racial Equity in Michigan (9 pages, PDF), addressing structural racism and implicit racial biases would reduce disparities in health, educational achievement, incarceration rates, and employment opportunities — which, in turn, would lower costs such as workers' compensation and healthcare benefits, improve business profitability, and help local businesses compete for talented, productive workers. A more diverse workforce also would improve the state's competitiveness in an increasingly global economy, the report argues, while greater wealth accumulation by households of color would contribute to community stability and intergenerational mobility, and make more capital available for entrepreneurs.

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