Economic Security Focus Area
The Bronx is one of the most diverse places in America with over 55% of our residents being non-white. Diversity is one of the biggest strengths of The Bronx. Diversity inspires creativity, drives innovation and innovative thinking, and helps to spur new economies.
Although The Bronx has many strengths, The Bronx is home to 60% of NYC’s very low-income residents, most of whom felt the economic collapse caused by the pandemic. Every Bronxite deserves equal opportunity for economic development and neighborhood wealth. Our community partners provide access to housing stability, economic literacy, and educational opportunities through the following resources:
Education, Technology, & Connectivity
Increasing access to educational opportunities is a key focus for The Bronx Community Foundation. The Foundation is committed to partnership in the co-creation and improvement of educational opportunities to The Bronx’s most pressing challenges, particularly pertaining to the borough’s most treasured assets: its community.
Although the diversity of The Bronx brings great innovation and opportunity, gaining access to the resources Bronxites need has been a challenge. The Bronx is one of the most under-connected districts in the country. According to New York City’s Internet Master Plan, The Bronx is the borough with the highest percentage of residents without home broadband, at almost 38%.
With a population of over 1,400,000, this means that 532,000 of Bronxites are unable to access digital healthcare resources, online education, and other opportunities amid the global pandemic. Through The Bronx Community Internet Trust (BCIT), a framework and methodology defined by our partners, The Bronx Community Foundation aims to turn the digital desert in The Bronx into a digital oasis.
To read more on our Digital Equity Coalition, Click Here.
Small Business Strength
The Bronx economy is made up of small businesses. Since 2010, The Bronx has seen a great increase in the number of small businesses. The fiscal crisis triggered by the COVID-19 pandemic creates a risk that small businesses will be impacted for years to come. To this point, a survey from The Bronx Chamber of Commerce showed that 52% of businesses in The Bronx missed rent payments in May 2020.
While we emerge from the effects of the pandemic, the need to provide both financial and regulatory solutions could not be clearer. The difficulties that small businesses face are only magnified for Black and Latinx small business owners. The Bronx Community Foundation recognizes that a revival of the economy will require additional support to Bronx-based small businesses.Click Here to read a press release on our Small Business Strength initiatives.