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The Nation’s Growing Inequality and Wage-Growth Stagnation is a Problem for Our Region

Eco­nom­ic in­equal­ity has ris­en to the top of our na­tion­al dia­logue in re­cent years, gar­ner­ing a lot of at­ten­tion in the me­dia, as well as from loc­al and na­tion­al lead­ers. This heightened in­terest in in­equal­ity has de­veloped be­cause eco­nom­ic in­sec­ur­ity is touch­ing more and more people — not just the poor or his­tor­ic­ally dis­ad­vant­aged — in a very real way. Though most of the at­ten­tion has been fo­cused on grow­ing gaps in in­come and wealth, as well as how dif­fi­cult it has be­come to climb the eco­nom­ic lad­der, much less has been said about a more ba­sic real­ity fa­cing people every day: After ac­count­ing for in­fla­tion, most Amer­ic­ans’ hourly wages have grown very little in the last three and a half dec­ades.

Unfortunately, it doesn’t look to get better in the next twelve months, but quite the opposite. That’s regardless of whether the “Feds” raise interest rates. There’s pain on the horizon. Our growing inequality –nationally and in the region– is real; our wage growth stagnation –nationally and in the region — is real; and that’s a problem. The question is what do we do about it? How do we change the prospects of upward mobility in the under-served community? Here is my answer below: MYB $$$eed TANK. If you know of a young business, or a person who has evolved their business beyond a proof of concept, he or she can apply. See below for the deadline and how to apply.

Bringing Capital to Early Stage Businesses-- MT Vernon, Yonkers, Bronx-- $$eed Tank --Helping to Lift The Economy of the Region — with J Gary Pretlow, Eri Quinn, Rev Troy DeCohen, Kevin Cacace and Rey Hollingsworth Falu at Westchester Community College Mount Vernon Campus.

Bringing Capital to Early Stage Businesses– MT Vernon, Yonkers, Bronx– $$eed Tank –Helping to Lift The Economy of the Region — with J Gary Pretlow, Eri Quinn, Rev Troy DeCohen, Kevin Cacace and Rey Hollingsworth Falu at Westchester Community College Mount Vernon Campus.

HOW DO YOU CHANGE THE PROSPECTS FOR UPWARD MOBILITY IN THE UNDERSERVED COMMUNITIES?
Answer: Attract capital to invest directly into those communities; spark entrepreneurship to be the engines of job growth; and nurture them through an incubator so that they lift the economy of the surrounding region. Thank you to Mount Vernon, Yonkers and the Bronx Chambers of Commerce and Westchester Community College for supporting and driving “MYB $$eed TANK.”

Francine Walker director of WCC Mount Vernon Extension addressing the Press. Rey Hollingsworth-Falu, Mt. Vernon Chamber of Commerce; Kevin Cacace- Yonkers Chamber of Commerce; Assemblyman Gary Pretlow, and Rev. Troy DeCohen each address the press.

Francine Walker director of WCC Mount Vernon Extension addressing the Press. Rey Hollingsworth-Falu, Mt. Vernon Chamber of Commerce; Kevin Cacace- Yonkers Chamber of Commerce; Assemblyman Gary Pretlow, and Rev. Troy DeCohen each address the press.

“This initiative is not about credit, it’s about having a great idea and the will and commitment to succeed.” Derickson K. Lawrence tells BW. Jan 5, 2016 is the deadline for early-stage businesses to apply and compete for seed capital of up to $10,000.

This template is not new. it’s been done before: Silicon Valley/Alley. There is no reason we cannot have the same outcome – overtime– here. The benefits are accretive to tax payers in the region, and investors have the potential to recoup their initial investment at subsequent rounds of funding. So it’s a win- win. I want to ensure that the local businesses in Mount Vernon, Yonkers, the Bronx and the surrounding region are in the running.

For more information like and follow the Facebook page .
To apply to be part of the competition click here.

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About AJ Woodson (2369 Articles)
AJ Woodson is the Editor-In-Chief of Black Westchester and Co-Owner of Urban Soul Media Group, the parent company. AJ is a Father, Brother, Author, Writer, Journalism Fellow, Rapper, Radio Personality, Hip-Hop Historian and A Freelance Journalist whose byline has appeared in several print publications and online sites including The Source, Vibe, the Village Voice, Upscale, Sonicnet.com, Launch.com, Rolling Out Newspaper, Spiritual Minded Magazine and several others.
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