Immigrant Entrepreneurs Prosper on Main Street
January 13, 2015. The Wall Street Journal features FPI’s new report on Immigrant Main Street business owners:
In the U.S. from 2000 to 2013, including in 31 of the 50 largest metro areas, immigrants accounted for all the growth in so-called Main Street businesses, according to a new study based on analysis of census data. Such firms are grouped in three categories: lodging and food, retail and neighborhood services such as dry cleaning and beauty salons. Immigrants made up nearly one out of three owners of these small, independent businesses in 2013, said the report by the nonpartisan Fiscal Policy Institute. That year, immigrants were 13% of the U.S. population and 16% of its labor force.
“These are businesses that don’t often get a lot of attention from economic development officials, and don’t have huge profits. But they play a big role in neighborhood revitalization, and they can be an important economic step up for the entrepreneurs,” said David Kallick, author of the report.