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Hispanic Black LGBTQ Asian $0 $500 $1,000 $1,500 2006 2010 2014 Buying Power in Billions of Dollars The Virginia Gay & Lesbian Chamber of Commerce (VGLCC) diversifies and strengthens Virginia’s economy by (1) uniting the Commonwealth’s LGBTQ business and professional communities, and their allies, and (2) integrating those historically underrepresented demographics into the broader marketplace. ~ The VGLCC is a certified 501(c)(6) not-for-profit corporation with a certified 501(c)(3) nonprofit educational foundation, the Equality First Foundation ~ Summary: The VGLCC is the nonpartisan voice of Virgi nia’s LGBTQ business community. Through the guiding principles of advocacy, collaboration, and education, the VGLCC represents and supports Virginia’s LGBTQ entrepreneurs, innovators, job creators, and their allies. In short, the VGLCC weaves the story of the LGBTQ community into the evolving narrative of Virginia’s diverse 21 st century economy. Management: The VGLCC’s Board of Directors, Advisory Council , and partners consist of small business owners, corporate executives, working professionals, lawyers, professors, community leaders, and public officials from across the Commonwealth. Market Need: Although Virginia’s LGBTQ community is expanding its equality portfolio, the LGBTQ business and professional communities continue to face challenges. In the post- marriage equality world, these communities need a singular voice to represent their interests. Moreover, Virginia needs an organization that streamlines B2B & B2C commerce with the state’s lucrative and largely untapped LGBTQ business and consumer markets. Unlike other LGBTQ organizations, the VGLCC is a crossroads for equality, innovation, shared values, and free market economics. The Chamber and its Foundation are committed to advancing business development, economic growth, and job creation as well as cultivating a marketplace built upon the principles of diversity, equality, and inclusion. Products & Services: To unite Virginia’s LGBTQ community, provide it with an economic voice, and integrate it into the broader marketplace, the VGLCC offers: The Equality First Foundation, a 501(c)(3) nonprofit educational foundation Exclusive access to Unite Virginia – Virginia’s LGBTQ Media Company™ Compelling business development and networking opportunities Educational, training, mentoring, and consulting opportunities Opportunities to expand both B2B & B2C commerce Diversity best practices and supplier diversity initiatives Statewide marketing (including a campaign developed by the VCU Brandcenter) LGBTQ Business Boot Camp™: A collaborative professional development program Political advocacy, access to decision makers, and partnerships with govt. agencies LGBTQ Tourism (Gov.’s LGBTQ Tourism Task Force, VA Tourism Corp., OutRVA) Access to a unique statewide LGBTQ-friendly business database and directory Diverse business collaborations & meaningful community engagement opportunities Access to the business leaders of tomorrow through partnerships w/VA’s universities Target Market: 1. Small Bus. (1-5 employees) 2. Medium Bus. (6-50 employees) 3. Large Bus. (51+ employees) 4. Individuals | Nonprofits | Students Market Research: Research shows that the LGBTQ community: Has $835 billion buying power & $100 billion tourism industry 1 (see chart above 2 ) Has a higher median income compared to the general population 3 Spends $2,300/year on leisure/travel (non-LGBTQ consumers spend $1,500/year) 4 97% took vacations in the past 12 months (national average is 64%) 5 87% prefer brands that have equality policies (as do 75% of LGBTQ allies) 71% remain loyal to brands that support the LGBTQ community 6 47% are more likely to buy from a company that advertises to an LGBTQ audience 23% have switched brands b/c a competitor supported the LGBTQ community 7 1 Jenn T. Grace, “But You Don't Look Gay... Successful marketing strategies for doing business with the LGBTQ Community.” 2013. 2 Catalyst. “Quick Take: Buying Power.” New York: Catalyst, 2013. 3 2012-2013 Prudential Research Study, "The LGBTQ Financial Experience.” http://tinyurl.com/okb4ra6. 4 “The LGBTQ Population at a Glance.” Harris Interactive, Inc. 2009. http://tinyurl.com/or2vnwr. 5 “Opportunities in the Gay & Lesbian Tourism Marketplace.” CMI. 2004. http://tinyurl.com/om7ufpb 6 See Harris, supra note 4. 7 “LGBTQ Adults Strongly Prefer Brands That Support Causes Important to Them and That Also Offer Equal Workplace Benefits.” Harris Interactive and Witeck-Combs Communications, 2011. Marketing Strategy: The VGLCC cultivates and maintains its membership base by partnering with businesses and organizations that wish to engage Virginia’s LGBTQ community and its allies (. The VGLCC also partners with Virginia’s LGBTQ Media Company™, Unite Virginia. Collaborations: The VGLCC collaborates with businesses, colleges/universities, community & pride organizations, govt. agencies and other business associations / chambers of commerce across VA. Competitive Advantage: The VGLCC is the only organization that comprehensively represents Virginia’s LGBTQ business and professional communities, provides them with a unified economic voice, & integrates the broader LGBTQ community into Virginia’s diverse 21 st century economy. 3 Reasons to Join the VGLCC: 1. Target a new market sector; 2. Engage a fiercely loyal, lucrative, and largely untapped demographic; 3. Brand your company as one that embraces equality, diversity, and social responsibility. Organization Profile 501(c)(6) Chamber of Commerce & 501(c)(3) Nonprofit Foundation Contact [email protected] Timeline 2014: VGLCC Founded 2015: Launch with Offices in Richmond Charlottesville, & Tysons Corner Coming Soon: More locations across the Commonwealth!! “We have an opportunity to build upon . . . marriage equality. Virginia’s business climate is open and welcoming to everyone. If you want to come here to start a business and create economic activity, I want you here.” –Governor McAuliffe “We cannot build a new Virginia economy without new Virginia values.” –Secretary of the Commonwealth, Swearing in the Governor’s LGBTQ Tourism Task Force
