On the Anniversary of the Destruction of Black Businesses, Exelon Is Helping to Build Them Up

Today marks 100 years since the Tulsa massacre, when racist mobs attacked the 10,000 Black residents of the Greenwood neighborhood in Tulsa, Okla. For 18 hours from May 31-June 1, 1921, Black residents were terrorized and historians estimate that up to 300 people were killed. Greenwood also was home to a thriving business sector known as “Black Wall Street” that was razed to the ground during the riots. Families, homes, communities, and businesses were destroyed, and in the aftermath, Black residents struggled to rebuild.

In the century since, African Americans in Tulsa and across the country have demonstrated that, out of tragedy, a community characterized by resilience, innovation, and hard work can still emerge. Despite persistent inequities in opportunity and support, the Black community has a proud legacy of generations of leaders and entrepreneurs in every industry.

In support of that legacy, I’m proud to announce that tomorrow, Exelon — in partnership with the Capital Region Minority Supplier Development Council (CRMSDC) and Eastern Minority Supplier Development Council (EMSDC) — will announce the launch of a new National Minority Supplier Diversity Program.

As a part of this new community empowerment initiative, Exelon has issued $150,000 in grants to CRMSDC and EMSDC, both regional affiliates of the National Minority Supplier Development Council (NMSDC) in Exelon Utilities service areas. The grants will fund the design and implementation of capacity-building programs to grow Black-owned businesses offering services that align with core utility needs, in Exelon’s footprint. While this pilot program intentionally focuses on Black-owned businesses, we are looking to expand the program to other diverse businesses in the future.

Supplier diversity is an important part of Exelon’s commitment to diversity, equity and inclusion. It’s about increasing opportunities and ensuring broad and fair access.

It’s how we hire employees and build relationships with suppliers, and how we do business every day. In 2019 alone, Exelon’s engagement with small minority, women, and veteran-owned businesses led to more than $3.6 billion dollars in contributions to the U.S. economy, including sustaining more than 20,749 jobs. As we rebuild from a pandemic that disproportionately impacted communities of color — more than 40% of Black-owned businesses have been shuttered by COVID-19 — it’s critical to invest in and support minority-owned businesses and Exelon plans to do just that. Today’s announcement is another demonstration of our commitment to diversity, equity, and inclusion and a symbol that 100 years after the Tulsa massacre we stand in solidarity with communities pushing for progress. One hundred years after people tried to destroy Black businesses, Exelon is trying to build them up.