Target Plans To Spend $2 Billion With Black-Owned Businesses By 2025

Millions of eyes are locked on to the city of Minneapolis as the state of Minnesota tries former police Derek Chauvin for the murder of George Floyd. As the trial moves forward, many are reflecting on the events of last May and June. In the wake of Floyd's death, thousands of protesters took to the streets of Minneapolis and led uprisings like few ever seen in modern American history. Caught in the crossfire of this fight for justice was a large corporation known as Target. With the superstore's headquarters set in Minnesota, large groups took to the company's flagship store and took what they needed. While damages to the store piled up, Floyd's death and the value of a Black life weighed heavier on the minds of many Americans than physical goods. Nearly a year after Floyd's death, Target is putting money towards supporting Black communities in Minneapolis and across the country.

Target has pledged to support Black-owned businesses in a major way over the next few years. By 2025, the company plans to spend $2 billion with Black-owned businesses. However, the company did not define what percent of a businesses needed to be owned by a Black person for it qualify as Black-owned.

“We have a rich history of working with diverse businesses, but there’s more we can do to spark change across the retail industry, support the Black community and ensure Black guests feel welcomed and represented when they shop at Target,” Target Chief Growth Officer Christina Hennington said.

In addition to supporting Black-owned businesses, Target has said that it will increase its Black workforce by 20% within the next three years. Also, Target said that it plans to donate $10 million nonprofits working to improve marginalized communities.

Photo Credit: Getty Images

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