Transformation of University Avenue by Immigrant Entrepreneurs

The new report updates the 2005 study to bring a thirty year perspective on the six block stretch of University Avenue in Saint Paul.

,,the avenue continues to be an incubator for immigrant entrepreneurship. The area is becoming increasingly multi-ethnic with a growing presence of African immigrant and African American entrepreneurs. There is also a constant churning in the sectors these businesses operate. These entrepreneurs start businesses to take advantage of economic trends which also make their survival tied to these same trends – for example the housing boom and bust. We noted in many entrepreneurs a sense of pessimism as a declining economy has hurt their bottom line and considerable anxiety over light rail construction.  This was a sharp contrast to our report in 2005 where we found a greater optimism on the avenue, reflected in business expansion and diversification beyond the avenue. 

The report was profiled in a story in the Pioneer Press

Economic Contributions of African Immigrants

Minnesota is among the top 10 states in the nation for the number of African immigrants.

African Immigrant buying power in the USA is an estimated 45 billion dollars (in relative terms – will be the 6^th largest African economy). African Immigrant Capital in Minnesota is also significant – for example buying power of the Somalis is an estimated 216 million dollars, Ethiopians 203 million dollars, Nigerians 71 million dollars, Kenyan 167 million dollars, Liberians 142 million dollars and smaller communities like the Cameroonian community have an estimated buying power of 6 million dollars.

African immigrants, as compared to other immigrants, tend to be younger, have higher educational attainment and have a greater participation in the workforce.

This data was released by Dr. Bruce Corrie, Professor of Economics and Director of the Strategic Business Design Institute, Concordia University, at the 4^th Annual Midwest Multicultural Marketing Conference in Saint Paul, MN. For more data on African Immigrant Capital please see http://www.ethnictrends.info/AfricanImmigrantCapital.html

A new study on the economic contributions of African immigrants from Liberia will be released shortly. Contact: corrie@csp.edu Tel: 651 641 8226