30% Of The Black-Owned Businesses In New York Disappeared In 5 Years

The rapid gentrification of NYC neighborhoods has led to an economic boom — and a collapse in black-owned businesses.

New York's fast-gentrifying neighborhoods have contributed to an economic boom in the city over the last 15 years, with the number of new storefronts and companies increasing by 45%. But those economic gains have not been shared by all residents, according to a new report from the city comptroller's office. Read more here

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