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
,,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
