Retail giant Target announced in April that it will provide $2 billion in support toward products from more than 500 Black owned businesses, reports Afro Tech. Now, the company announced in a blog post that it will be allocating $100 million in funding to Black communities through 2025.
With this new commitment, Target aims to fuel economic prosperity to Black-led organizations as a part of the Target Forward Strategy designed to ensure the company equitably represents the communities it serves.
“As one of the largest retailers in the U.S., we know we have the responsibility and opportunity to use our resources to help end systemic racism and accelerate economic prosperity for Black communities,” said Amanda Nusz, president and corporate responsibility senior of the Target Foundation. “With this commitment, we aim to support the next generation of Black talent, expand the impact of Black-led movements and voices, and create economic opportunity in Black communities across the country.”
Target will hit the ground running, already airing support for the Minnesota Holistic Black-Led Movement Fund, which allocated grants to aid in the transformative procedures and active solutions to achieve justice and racial equity. Target will continue to reach more non-profits through 2025 to nourish economic opportunities for Black individuals.