May 19, 2021

Closing racial wealth gap could grow the Massachusetts economy by $25b over five years, according to report

Shirley Leung ,

The Boston Globe

If Massachusetts could close the wealth gap in Black and Latino communities, the state could grow its economy by $25 billion over five years, the equivalent of adding up to 100,000 jobs, according to an analysis by the Massachusetts Taxpayers Foundation. The 29-page report, to be released on Wednesday, is an unusual one for the fiscal watchdog group, which typically weighs in on topics such as the state budget or MBTA finances. But like many organizations since the racial reckoning that followed George Floyd’s murder last May, the foundation wanted to play a role in eliminating disparities in the Black community.