Rapid Growth of Latino Firms in Minneapolis

Bruce P. Corrie, PhD corrie@csp.edu Latino firms grew 67 percent during the five year period 1997-2002 in Minneapolis compared to 8 percent growth for all firms statewide. Latino sales grew by 188 percent and employees of Latino owned firms grew 238 percent during this time period. One just has to walk down Lake Street to witness Latino entrepreneurship at its best. Minnesota's policymakers take note of your immigrant capital ! Here are some of the numbers: Firms: 1997 360 firms 2002 602 firms Sales: 1997 29 million 2002 85 million Firms with employees: 1997 70 2002 132 Employees: 1997 434 2002 1467 Source: Economic Census, 2002