February 26, 2024

When the Emancipation Proclamation was signed in in 1863, Black people owned 0.5% of the nation’s total wealth — a figure that has barely moved since. While much emphasis has been placed on the role of federal action in closing the racial wealth gap, it is not the only path to address this systemic issue. Local governments can and must take a more active role in creating equitable outcomes for their Black residents. Over the last decade, staff from the Maven Collaborative have harnessed our research and expertise on the racial wealth gap to address racial wealth inequality at the local level and have built out a racial wealth framework developed in partnership with several partners.

This paper provides a roadmap to help localities dismantle structural barriers so that the U.S. can finally change course in our failing to address racial wealth inequality.