Black-owned companies are showing progress according to Sam Beard, head of the the non-profit, Development Council.
1975 (Feb 2)
Sam Beard, head of the Development Council, announced in New York that minority-owned companies were moving into the economic mainstream and doing business with the industrial giants of the nation. According to Beard, “There was almost no history of minority business ownership prior to the Sixties,” but in the last three years, his nonprofit organization had arranged 1,003 contracts totaling $141 million between minority-owned businesses and major corporations. Included among the Council projects were the financing of a health center in South Jamaica, a section of Queens, New York, where thirty Black doctors had tried unsuccessfully for eighteen months to raise money for a medical facility to treat the community of 150,000; the funding of Soul City, the multi-racial town under construction in North Carolina; assistance to the Black Feet Indian Writing Company in Montana, which supplied pens to Atlantic-Richfield Company; and assistance to the Black-owned Baldwin Ice Cream Company of Chicago, which sold food to United Airlines. The Council, according to Director Beard, was not a charity organization. Instead, he said, “We're building long-lasting business relationships that will feed hundreds of thousands of dollars back into minority communities and create jobs.”