NEW ORLEANS – Local restaurants Beaucoup Eats, Taste & See and Addis will all receive support from the PepsiCo Foundation and National Urban League Black Restaurant Accelerator Program. The joint $10 million initiative will provide 500 Black restaurant owners in 12 cities over the next five years with capital, technical assistance and mentorship services.
“As the pandemic exposed existing disparities many minority business owners face, we saw a fundamental threat that could erase the decades of progress Black-owned restaurants have made,” said Pepsi’s C.D. Glin in a press release. “This investment will help Black restaurateurs not only recover from the pandemic but set them on a path to long-term economic resilience.”
Pepsi said 41% of Black-owned businesses have shuttered since February 2020 compared to just 17% of white-owned businesses.
“Black businesses and consumers are among the key contributors to the economic strength of our nation, and they deserve equal recognition and support for the vital role they play in our communities,” said Marc H. Morial, former New Orleans mayor and president of the National Urban League. “We are proud to partner with The PepsiCo Foundation on a matter of crucial importance that helps business owners and addresses one of the critical economic disparities impacting Black communities.”
More information: pepsico.com/about/diversity-and-engagement.
