Initiative will promote that closing the racial equity gap has the potential to generate a $8 trillion GDP increase in the U.S. by 2050
Crowns & Hops, the LA-based Black-owned craft beer brand that founded the #BlackPeopleLoveBeer movement, is announcing “The 8 Trill Pils Initiative,” a craft beer initiative dedicated to achieving racial equity within the industry. To jumpstart that effort, the initiative will kick-off with the launch of Crowns & Hops “8 Trill Pils Fund,” a $100,000 development fund that will be distributed to help establish more Black-owned breweries.
The 8 Trill Pils Initiative is named after a statistic from the Business Case for Racial Equity by the W.K. Kellogg Foundation case study that found the U.S. stands to realize a staggering $8 trillion gain in GDP by closing the racial equity gap by 2050. The report goes on to detail that, by closing the gap in the major ‘pillars’ of productivity – Healthcare, Education, Criminal Justice, Housing and Employment/Entrepreneurship – society can start to realize a substantial impact.
The Crowns & Hops “8 Trill Pils Fund,” is launching with utilizing a $100,000 grant provided by BrewDog, Scottish craft brewer, and will support Black owners with the opening of their breweries. Details on the fund, including, who is eligible and how recipients will be selected, will be announced in the coming weeks on 8TrillPils.org.
“There are more than 8,000 craft breweries in the U.S. Of those, around 60 are Black-owned. The craft beer industry is a prime example of racial disparity in our country – Black people are vastly underrepresented in the business of brewing, creating a significant, untapped economic opportunity,” says Teo Hunter, Co-Founder of Crowns & Hops.
“Initiatives like ‘Black is Beautiful’ have helped drive awareness to problems that plague the Black community. We want to build on that momentum and drive the conversation forward, specifically regarding racial equity. With The 8 Trill Pils Initiative, we hope to drive the craft beer community to take action in our own arena, and lead as an example for other industries with similar underrepresentation,” says Beny Ashburn, Co-Founder of Crowns & Hops.
Crowns & Hops’ relationship with BrewDog first began in April of 2019, when Crowns & Hops received funding as part of the BrewDog Development Fund, primarily because of BrewDog’s shared belief in the Crowns & Hops’ mission of highlighting diversity in craft beer. Crowns & Hops reengaged them now to expand that mission to include driving equity and paying it forward.
James Watt, co-founder of BrewDog commented: “As a global craft brewer, it is our responsibility to use our voice as a force for good. In the case of racial equity, that means literally opening and supporting more Black-owned breweries like Crowns & Hops so that Black people are not only represented in the business of beer, but are also successful.”
Hunter added, “Eradicating systemic racism is the first step. In the U.S., it is imperative to empower and radically support Black entrepreneurs, previously starved of resources and capital, with the goal of achieving maximum success. This agenda will not only drive success for the Black community but for the entire country.”
To learn more as The 8 Trill Pils Initiative evolves, please visit 8TrillPils.org to sign up for updates and keep a close eye on the Crowns & Hops social media channels: @crownsandhops (Instagram, Twitter and Facebook).