Immigrant Businesses, Economic Engine for U.S. Cities
Immigrant Businesses, Economic Engine for U.S. Cities
Small immigrant-run businesses provide more than just convenient local services, they also boost the national economy, shows a new report by AS/COA and the Fiscal Policy Institute.
Whether it’s the corner bodega, neighborhood restaurant, nail salon, bakery, clothing store or dry cleaners, small immigrant-run businesses provide more than just convenient local services, they also boost the national economy.
A new report released by Americas Society/Council of the Americas (AS/COA) and the Fiscal Policy Institute shows that immigrants play an increasingly significant role in Main Street businesses in the U.S. Immigrants account for 28 percent of Main Street business owners nationally.
The report, Bringing Vitality to Main Street: How Immigrant Small Businesses Help Local Economies Grow finds that between 2000 and 2013, immigrants were responsible for all of the net growth in Main Street business across the nation, as well as in 31 of the 50 largest U.S. metropolitan areas. Main Street immigrant business owners earned $13 billion in 2013.
“This report confirms and quantifies what we see in our daily lives: that immigrants are crucial to the economic vitality and success of cities around the country.” Said Susan Segal, AS/COA President and CEO....
