DETROIT, Feb. 20, 2012 /PRNewswire/ -- The Michigan Black Chamber of Commerce (MBCC), the governing body for all black chamber of commerce organizations within the state of Michigan, announces the launch of the Detroit Black Chamber of Commerce (DBCC).
The launch of the Detroit Black Chamber of Commerce (DBCC) will take place Tuesday, Feb. 21, 2012 at the St. Regis Hotel, 3071 W. Grand Blvd., beginning at 9 a.m.
The launch of the DBCC continues the expansion by the Michigan Black Chamber of Commerce to establish black chamber organizations in each urban area within the state of Michigan. The Detroit Black Chamber will be the state's largest black chamber organization.
"As Michigan's economy and the national economy continue to recover, a tremendous growth opportunity exists for the over 32,000 black-owned businesses based in the city of Detroit, and the Detroit Black Chamber of Commerce represents the collective strength of those businesses to pursue and maximize opportunities," said Tony Stovall, new President of the Detroit Black Chamber of Commerce. "The Detroit Black Chamber will use the power and leverage of being the 4th largest city of black-owned businesses in the United States to drive economic growth for the city of Detroit and its black businesses beyond the current $2 billion in annual revenue that we see today."
According to 2007 U.S. Census figures, there are over 32,000 African American-owned businesses in the city of Detroit. African American consumers in Michigan possess $8.3 billion in collective buying power, with $3.6 billion of that power residing in Detroit.
"The chartering of the Detroit Black Chamber as Michigan's newest black chamber, shows the collective good that occurs when business owners from different industries come together to advocate for the betterment of all black business owners in the city of Detroit," said Ken Harris, President and CEO of The Michigan Black Chamber of Commerce. "The Detroit Black Chamber, as the largest black chamber in the state of Michigan, will play a key role in the implementation of an economic agenda for the over 32,000 African American businesses currently based in the city."
Nationally, there are nearly 2 million African American-owned businesses employing nearly 1 million people. Census figures from 2007 show that black-owned firms increased by 45 percent, compared to the national average growth of 10 percent. Black-owned companies that generate more than $1 million in annual revenue grew by an average of 19 percent to $5.4 million in 2007.
The Detroit Black Chamber of Commerce will become a part of a statewide organization, The Michigan Black Chamber of Commerce, and a national network of African American businesses and black chambers through the U. S. Black Chamber of Commerce, Inc.
"The Detroit Black Chamber is the next step towards the Michigan Black Chamber's efforts to help revitalize the great State of Michigan," said Ron Busby, President and CEO of the U.S. Black Chamber of Commerce. "The Detroit Black Chamber and its members will now have access to a state-wide and national network of nearly 2 million African American businesses associated with the U.S. Black Chamber of Commerce."
The MBCC plans to charter and launch additional chapters in other Michigan cities in 2012.
Ken L. Harris
SOURCE Michigan Black Chamber of Commerce