Posted: Feb 3, 2021 / 09:59 AM EST / Updated: Feb 3, 2021 / 10:01 AM EST

LANSING, Mich. (WLNS)The Lansing Economic Area Partnership (LEAP) is creating a new department to expand opportunities for low-income people that are primarily Black, Indigenous and people of color (BIPOC).

The new department will be called the Department of Equitable Economic Planning (DEEP).

Prioritizing the empowerment of historically disenfranchised communities does more than elevate those communities circumstances, said Tony Willis, the person selected as the Chief Equity Development Officer to lead DEEP.

Strategically infusing equity into economic development practices grows quality jobs and increases entrepreneurship, ownership and wealth while increasing profit opportunities for our businesses, which in turn cultivates a stronger, more competitive economy on the whole, Willis said.

Investing in equity practices just makes good economic sense. Since 2000, the United States economy lost an estimated $16 trillion due to discrimination, according to a September 2020 study byCiti Group. By addressing the racial wealth gap by 2028, U.S. GDP would grow by an estimated $1.5 trillion, or 6% of its current level, according to an August 2019McKinsey report.

Currently, LEAPs equity-focused programming includesOne and All, an inclusive entrepreneurship initiative launched in 2020 andThe Hatchingbusiness pitch competition series. Together these programs aredesigned to increase successful entrepreneurship and small-business ownership among historically underrepresented populations and those who are struggling to maintain a basic cost of living and are open toresidents of Clinton, Eaton, Ingham and Shiawassee counties.

Additionally, LEAP staff participates in a diversity, equity and inclusion training pilot program at Lansing Community College, which began in January 2020.

In its first year, DEEPs strategic goals include plans to support the conversion of existing DBAs to LLCs andhelp support and reconstitute business organizations within the Black and Hispanic community;revising and improving LEAPs existingdiversity statement, which is readopted and signed by LEAPs board of directors each year; creating a comprehensive application, review and award process for LEAPs annual Diversity Star Award program; and developing a strategic approach to seeking grant funding to increase capacity for long-term goals and future programming.

Long-term goals for the department include programs to strengthen business ownership, from supply chain advancement to cooperative creation; community empowerment and economic development education; and advocation for and implementation of progressive business policy.

Addressing systemic inequitybeginsby just getting started, said Willis. As an organization and as a community, theres much work to be done. The creation of DEEP represents an important, intentional step to more vibrant, equitable communities that truly represent our vision of stronger together.

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Heres how Lansing Economic Area Partnership plans to help the BIPOC community - WLNS