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Urban Caucus Chair Tells Investors: 'Greatest Untapped Market for American Business is in Minority Communities at Home'
October 20, 2009Congressman Chaka Fattah (D-PA), chairman of the bipartisan Congressional Urban Caucus, told the nation's leading urban-market venture capitalists that investing in minority communities in the United States is smart business as well as a route to national economic recovery. Fattah is the keynote speaker at tonight's banquet and gala of the National Association of Investment Companies (NAIC), which wraps up its 39th Annual Meeting and Convention at the Fairmont Hotel. NAIC members control more than $10 billion in capital for investment in ethnically diverse American markets. "Even though emerging markets abroad are touted as hot prospects, the fact is that the greatest untapped market for American business can be found right here at home in the economic shadows," Fattah said in remarks prepared for the NAIC. "If the urban markets catering to African Americans and Hispanics were a separate country, those markets would represent the world's ninth largest economy." Full release.