During a recent government meeting, concerns were raised regarding the shifting focus of city investment strategies, particularly in relation to small businesses and generational wealth building. Participants expressed apprehension that the transition of oversight from the Department of Neighborhoods to the Office of Economic Development (OED) has led to a diminished commitment to supporting small businesses, especially those owned by people of color.

The discussions highlighted a perceived imbalance in city priorities, with significant resources directed towards downtown development and key industries, leaving small businesses feeling neglected. Specific programs designed to foster economic growth within marginalized communities, such as the Tenant Improvement Program and the Business Community Ownership Fund, were noted as critical initiatives that have faced cuts, raising alarms about the future of these businesses.

Community leaders emphasized the urgent need for the city to refocus its efforts on small businesses, which are vital for local economies and the creation of generational wealth. The meeting underscored a call for renewed investment in infrastructure that supports these enterprises, reflecting a broader concern for equitable economic development across all neighborhoods.