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April 11, 2017

'iBuyBlack' discount card launched to support African-American-owned businesses

Economy Business
041117_ibuyblack_logo.jpeg Source/ibuyblack

Looking to encourage Philadelphia residents to shop at African-American-owned stores, a local organization unveiled a new discount program to support black communities.

The Philadelphia Community of Leaders, a group that represents African-American civic leaders and business owners in the city, launched the “iBuyBlack" discount card Tuesday at a press conference inside City Hall. The effort is aimed at spurring black residents to spend money within their community.

"Economists say the average dollar earned by blacks stays in our community for six hours," the iBuyBlack website reads. "Compare that to the white community. Dollars circulate in the white community for 17 days!"

The idea was developed by a broad coalition of local leaders as a way to create jobs, build community pride and reduce crime, the group said.

The card costs $10 and will give holders access to discounts of up to 15 percent at participating businesses. Deals are currently available from nearly 80 companies, which include restaurants, construction, child care services and more.

The group's goal is to recruit more than 10,000 people to purchase the card and recruit more businesses to participate.