Small Business Start Ups Grow
Immigrant Entrepreneurs Helped at Institute
In October 2012, the Small Business Development Program of the International Institute of St. Louis was awarded a new four-year microenterprise grant by the Office of Refugee Resettlement of the US Department of Health and Human Services. Here are a few highlights from our recently completed final report for the previous five-year grant cycle (October 2007-September 2012).
As the last grant cycle commenced, the Institute was also launching the International Institute Community Development Corporation (IICDC), a subsidiary arm, to make loans to both refugee AND immigrant entrepreneurs. The IICDC was awarded CDE/CDFI certification from the US Department of Treasury in early 2008, thereby positioning the IICDC to seek bank funds for small business lending.
The IICDC made a total of 129 loans for $1,553,872 during the period. Since its inception, 516 businesses have been financed or supported, creating and/or retaining 730 jobs. According to the St. Louis Regional Chamber's data analysis software, IICDC business activities have results in more than $130 million in positive economic impact for our region.
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Impact of Immigrants - Part III
Recently, we have been providing demographic details from 2010 Census data about Missouri's immigrant residents. This month, we are focusing on earnings data for full-time workers. By offering this data, we hope our readers will be able to make more informed decisions about immigration, especially as it pertains to Missouri's population.
As stated previously, Missouri's foreign-born population at 3.9% is much smaller than the national population at almost 14%, but it is growing. In the past decade, immigrant participation in the Missouri workforce grew by 56.4% from 82,910 to 129,693. In all, the immigrant workforce in Missouri increased by approximately 80,000 workers between 1990 and 2010.
According to Census information, Missouri's immigrants are concentrated at the highest and lowest ends of the earnings spectrum.
A higher percent of individuals earning up to $24,999 annually are immigrants. At the other end, immigrant earnings outstrip those of native-born Americans in the +$75,000 category.
Read more...
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Save the Dates!
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March 18 - 22
Grantsmanship Training Program of The Grantsmanship Center. Hosted at the International Institute of St. Louis. Click here for more information.
April 2
International Institute's Feast of Nations: Dine around St. Louis/Taste the World. Join us for our inaugural dine-out event. If you like the food at Festival of Nations, you will LOVE the Feast of Nations! Keep an eye out for restaurant listings and other details.
April 26
International Institute Trivia Night. 6 pm (doors open). The Heights, 8001 Dale Ave., Richmond Heights, MO. Hosted by our Junior Board. Click here for more information.
August 24-25
International Institute's Festival of Nations. Our region's largest most diverse annual ethnic festival featuring music, dance, FOOD, and shopping. Featuring main stage performances by the Mexican Folkloric Dance Company of Chicago. Be there!
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