The 2nd Annual state of the california african american
economy summit 2024

The California African American Chamber of Commerce hosted its second annual “State of the California African American Economy Summit” from January 24 to January 25 at the Westin Los Angeles Airport Hotel. The summit aimed to bolster Black economic influence through education and fellowship, bringing together some of the state’s most influential Black business leaders, policymakers, and economic thinkers. Discussions focused on various economic topics pertinent to California’s African American business community, including policy, government contracts, equity, and more.

Toks Omishakin, Secretary of the California State Transportation Agency (CALSTA), attended the event and spoke to attendees about his department’s efforts to increase access for Black business owners. He highlighted initiatives and programs to enhance opportunities and support for Black entrepreneurs in the transportation sector.

Lueathel Seawood, the president of the African American Chamber of Commerce of San Joaquin County, candidly shared her frustration with the challenges small businesses face in obtaining federal contracts and completing the certification process. She noted that once a small business was certified as a Disadvantaged Business Enterprise (DBE), there was little assistance available to help them progress to the next step. Toks Omishakin acknowledged that more work is needed to help small businesses complete the process and be included in upcoming projects. He mentioned that the California High-Speed Rail Authority’s high-speed rail system expansion has set a goal of 30% participation from small businesses, but only 10% is specifically set aside for DBEs.

The importance of Diversity, Equity, and Inclusion (DEI) in economics was reinforced during the “State of the California Economy” talk, led by author and economist Julianne Malveaux and Anthony Asadullah Samad, Executive Director of the Mervyn Dymally African American Political and Economic Institute (MDAAPEI) at California State University, Dominguez Hills.

Malveaux emphasized that assaults on DEI disproportionately affect women of color and Black women. When asked about the potential role of the loss of DEI in economics, she suggested that there might be a more sinister purpose behind these attacks, hinting at the intentional marginalization of these groups to maintain systemic inequalities and hinder their economic progress.

The most anticipated speaker at the event was Janice Bryant Howroyd, affectionately known as “JBH” to her peers. She is among the first Black women to run and own a multi-billion-dollar company. Her company, ActOne Group, is one of the world’s largest and most recognized hiring, staffing, and human resources firms. Howroyd is also the author of “Acting Up” and has a profile on Forbes.

Timothy Alan Simon, Chairman of the Board of Directors of the California African American Chamber of Commerce, a lawyer, and the first Black Appointments Secretary in the Office of the Governor of California, moderated the discussion. Together, they explored the state of Black entrepreneurship in the country, with Howroyd offering advice to other business owners.