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The Rise And Fall Of Black Business Power In Chicago: 13 Things To Know

The Rise And Fall Of Black Business Power In Chicago: 13 Things To Know

Black Business Chicago

Photo: George Ellis Johnson Sr. founded Johnson Products Company in Chicago, creating products such as Ultra Sheen and Afro Sheen, https://aaregistry.org/story/george-e-johnson-was-a-natural-businessman/

There was a time when Chicago was the place for Black businesses to thrive. During the 1970s especially, the Windy City was a virtual Back business powerhouse but the landscape changed. By the 1990s, Black-owned businesses were on the decline as a result of disinvestment, globalization and the nationalization of local businesses.

Before the businesses disappeared, the city was filled with Black-owned stores, a pharmacy, dentists, a nightclub, a funeral home, and a Black-owned bank — Independence Bank of Chicago — with more than $100 million in assets, Politico reported.