How Immigrant Small Businesses Help Local Economies Grow

Posted by Fiscal Policy Institute on February 23, 2015

New Report Spotlights
Powerful Economic Impact of Immigrant Entrepreneurs

Fiscal Policy Institute & Americas Society/Council of the Americas Report Highlights Philadelphia, Minneapolis, and Nashville

A new report emphasizes the importance of immigrant entrepreneurs in revitalizing “Main Street” areas in three US cities, including Philadelphia.

The report (pdf), authored by David Dyssegaard Kallick, defines Main Street businesses as those that fall into one of three categories:

• Retail (from jewelry stores to florists to grocery stores)
• Accommodation and Food Services (restaurants, bars and hotels)
• Neighborhood Services (beauty salons, barber shots, nail salons, dry cleaning, and car washes)

Examining how immigrant entrepreneurs helped bolster Philadelphia’s Italian Market and other neighborhoods, the report provides detailed statistics about each of the three featured cities.

Next, case studies explore how the cities have tackled the question of connecting entrepreneurs to resources and fostering productive connections between immigrant and US-born merchants.

We’re proud to say that the Welcoming Center’s work is spotlighted, as well as partners such as FINANTA and the City of Philadelphia.

The report concludes with practical recommendations for other cities who hope to foster entrepreneurship.

Key Facts from the Report:

• Immigrant entrepreneurs propelled a startling 96% of the growth in Philadelphia’s Main Street businesses between 2000-2013
• There are more than 13,000 immigrant entrepreneurs in the Philadelphia region
• Of the $1 billion in annual earnings reported by Philadelphia-area Main Street business owners, $295 million is from immigrant-owned businesses
• The single largest group of foreign-born entrepreneurs in our region is Indian immigrants, followed by those from Greece, China, Vietnam, Ukraine, Italy, Pakistan, Mexico, and Iran
• Immigrants make up 10% of the population in the Philadelphia region, but 14% of all business owners, and 28% of Main Street business owners

Learn more in the full report (pdf).

http://fiscalpolicy.org/wp-content/uploads/2015/01/Bringing-Vitality-to-Main-Street.pdf

Watch a Video Discussing the Report’s Findings

Recently, Jennifer Rodriguez of the Mayor’s Office of Immigrant and Multicultural Affairs in Philadelphia joined colleagues from Minneapolis and Nashville at a report-release event in New York City.

Report author David Dyssegaard Kallick of FPI and moderator Kate Brick of AS/COA led a wide-ranging discussion of themes raised in the Bringing Vitality to Main Street report.

Watch a video of their discussion below. Listen for a shout-out to the Welcoming Center’s Herman Nyamunga!

http://www.livestream.com/ascoa/video?clipId=pla_da208c57-605c-4b27-9504-0edcd776829b