Achieving an Economy for All, Creating Economic Mobility for Minority Communities
The course that we chart for New York’s economy in the next decade will be critical. Technology has drastically changed our economy, and in many ways, the industries that will drive our future economy. As we look to the future, there is an important question that The Business Council and other business organizations should be asking. How do we ensure the growth and expansion of our economy so that it takes into account the diversity of our communities and provides economic opportunities for all New Yorkers?
The issues surrounding economic mobility are critical to any society. Economic opportunity and the associated benefits help drive our economy to its fullest potential. When economic opportunities are limited by race, economic status, and geography, it negatively affects many people’s ability to improve their socioeconomic realities. These limitations do not only impact those who have faced barriers, but all New Yorkers, because the simple fact is that economic growth and inclusion are intertwined. Thus, the long-term growth of our economy depends on addressing the obstacles faced by those who experience the most significant barriers.
So how do we address these issues in this era of affordability and constant economic change? There are no easy solutions, but one thing is clear: without dialogue and thoughtful discussion, we can never achieve the type of economy that benefits all New Yorkers. This is why The Business Council of New York State, in partnership with the Capital Area Urban League, will be holding a series of forums to discuss the issues surrounding economic mobility. These forums will focus on Black, Latino, and rural economic mobility. The opening forum will focus on Black economic mobility and will be held on November 12, 2025, from 4:00 p.m. to 5:30 p.m. at Medgar Evers College.
The forum on Black economic mobility will allow us to have the discussions we need as New Yorkers struggle with affordability. The panel discussion will include a presentation by McKinsey and Company’s Institute of Economic Mobility, followed by an open and frank roundtable discussion moderated by Assemblyman Brian Cunningham. Panelists on the roundtable will include Assemblywoman Michaelle Solages; Michael Collins, Vice President for Housing and Financial Capability at the National Urban League; Lorraine Collins, Government and Public Affairs Manager at Zillow; Dr. Charles O. Galbreath, Senior Pastor at Alliance Tabernacle; and Dominic Williams, Associate Partner at McKinsey & Company.
The forum will also be an opportunity to focus on another aspect of Black economic mobility: the role that not-for-profits play within communities of color. After the forum, we will hold a reception to honor two of these not-for-profits: Kings Against Violence Initiative (KAVI) and Henry Street Settlement. The reception will be catered by one of the legendary African-American restaurants in New York City, Charles Pan Friend Chicken, the home of James Beard-nominated chef Charles Gabriel.
The reality is that the businesses and engines that drove our economy in the past are changing. As this change continues, our economic stability will be intertwined with economic inclusion. This realization is essential, and it is incumbent on The Business Council, civic organizations, and our elected officials to understand how New York must evolve and grow, meet the challenges of a changing economy, and address them with inclusion as a focal point. That is why we are honored to hold this discussion as well as the upcoming discussion on rural and Latino economic mobility.
For those interested in learning more about the event or if you have an interest in attending, please contact [email protected]
Paul Zuberis Executive Vice President of The Business Council of New York State, Inc.
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