PepsiCo is using its size and buying power for good by committing to a more diverse and inclusive supply chain.

PepsiCo has pledged to more than double its spending with existing and new Black-owned suppliers, with an incremental spend of $350 million, as well as spending an extra $275 million with Hispanic suppliers.

In 2021, PepsiCo spent $495 million with Black- and Hispanic-owned businesses within its supply chain. This is estimated to have supported a $614 million gross value added (GVA) contribution to GDP and nearly 6,100 jobs, alongside $120 million in tax revenues across the US. These impacts are supporting minority communities across the US, including in the New York Metro Area, where PepsiCo’s spending supports $75.4 million in GVA and 840 jobs; Chicago, which has seen an additional $14.7 million in GVA and 110 jobs thanks to PepsiCo’s spending with minority suppliers; and Dallas-Fort Worth, where that spending supports $37.2 million in GVA to the local economy and 370 jobs.

PepsiCo is supporting businesses that help communities through the Dig In Initiative and Juntos Crecemos platform to support Black- and Hispanic-owned restaurants. In total, we find that PepsiCo’s cash support to nearly 1,000 minority-owned small businesses could support an estimated 2,270 jobs.

Additionally, PepsiCo is supporting Black- and Hispanic-owned businesses by providing coaching and consulting advice.

We estimate that the $7.5 million invested by PepsiCo in these endeavors could lead to $210 million in new sales for small businesses, and support 1,900 new jobs.

These efforts are focusing on individuals too. PepsiCo will spend $40 million delivering 4,000 scholarships to young Black and Hispanic students pursuing community college degrees and trade certificates over five years. In just the first two years of this program, we estimate that PepsiCo’s $11.3 million in grants to 3,200 scholarships could lead to an increase of $343 million in increased lifetime earnings potential in net present value terms. The economic impact of these graduates’ subsequent employment will be felt.1 With knowledge of the locale of all of PepsiCo’s supported scholars, we estimate that through their support of scholarships, this lifetime investment is expected to bring $40.5 million in increased human capital to Dallas, $15.2 million to Chicago, and over $14.3 million to New York City.