Racial inequities force us all to pay the 'cost of segregation'

Racial equity matters deeply to me. It should matter to all of us.

Chicago has the biggest life expectancy gap of the 50 largest cities in the United States. On the South Side of Chicago in Englewood, the life expectancy is 60 years and downtown in Streeterville, it's 90. A difference of 30 years in 10 miles.

Similarly, the median annual household income for a black household in Cook County is only $36,000, compared to $71,000 for a white household. This means a black family earns 50 cents on the dollar compared to a white family.

We find similar inequities across all sectors. From health to wealth to education, black and Latinx communities experience far worse outcomes than white communities.

Traditionally, people who live and work in places that have historically benefited from segregation don't have to think about what segregation has cost them. But it is important to understand that we all pay a cost of segregation. And it's billions of dollars per year in lost income, lost profits and lost opportunities.

When it comes to lost income, people of color pay the cost of segregation when they can only afford to live in neighborhoods where few jobs are available and public transit is scarce. This means that, while Cook County has a relatively low unemployment rate of 4%, that rate is much higher for people of color. In fact, it is more than three times that for black people - 15%.

When it comes to lost profits, businesses pay the cost of segregation when they have less access to capital and fewer customers and homeowners pay in lost value on their homes. According to a Brookings Institute investigation, on average a home in a black neighborhood is worth $23,000 less than a home in a predominantly white neighborhood.

When it comes to lost opportunities, the region as a whole pays the cost of segregation - especially as we suffer a dramatic population loss. Added up, all the individual costs of segregation are reasons our region is experiencing a black exodus - it's often just too hard for families and businesses in communities of color to afford to stay here.

Ultimately, segregation burdens all of us. Studies of regional economic growth show that regions with the least inequality are the most vibrant. In fact, in 2018 the Metropolitan Planning Council calculated that Chicago loses $4.4 billion dollars annually in lost income due to segregation.

So, here's the real question: what are we doing to close this gap and help all of Cook County thrive?

Center equity. Equity must permeate all our institutions.

This is a priority of my administration and we strive to use an equity lens in our policies and practices. We examine who will benefit and who will be burdened by what we do. We do this with our transportation investments, with the way we distribute grants, with how we increase access to healthcare - it permeates everything we do.

Embrace diversity. Hire diverse candidates, mentor those candidates and promote them into leadership positions. By creating and feeding that pipeline, everyone profits.

I practice this in my administration because I know it works. My senior staff is incredibly diverse and their unique perspectives and backgrounds bring innovative ideas, improvements and connections to the table. You just can't achieve that when everyone in the room comes from the same background.

Prioritize investments. Target investments and resources where they can have the greatest impact and support populations that have been most harmed by segregation.

For too long we have seen neighborhoods on the South and West sides of our county stall, while areas to the north and downtown have thrived. We are grateful for neighborhoods that do well. We want them to continue to grow and prosper. But we are one county and the whole region suffers when any community doesn't have the opportunity to thrive. In my administration, we consider equity when allotting resources to all regions of the county, including the Northwest suburbs, and we prioritize our investments in the South and West suburbs for just that reason."

Join us in this effort. Advocate for equity in your community, in your organization, at your firm, at your school. We all wield power to shape our region into an equitable place, where all can thrive.

Toni Preckwinkle, a Chicago Democrat, is Cook County Board president. She built this essay from the core of ideas in a speech she delivered in Schaumburg Wednesday to participants at an economic conference sponsored by the commercial real estate platform Bisnow. To read the full address, click here.