Archive for January 14th, 2012

January 14, 2012

Jan. 14, 2012 – SF Gate – Minorities’ spending forecast $3.5 trillion in ’15

Minorities’ spending forecast $3.5 trillion in ’15.

Bloomberg

Minorities’ spending forecast $3.5 trillion in ’15

Number of the day

$3.5 trillion

That’s how much Latino, black and Asian American shoppers will spend on goods and services in 2015, according to the University of Georgia’s Selig Center for Economic Growth. Retailers like Macy’s are gearing up to sell more clothes, cosmetics and home goods to minority shoppers, and they’re seeking out suppliers who specialize in those markets. Macy’s predicts its sales of products from minority- and women-owned businesses will top $1 billion within two years.

Hear here

“Manufacturing is a lot like bacteria. As long as you don’t kill them all, they’ll flourish again when the conditions are right.”

Economist Martin Holdrich of Woods & Poole Economics, on a rebound in hiring at U.S. factories. Manufacturers added 225,000 jobs in 2011, ending the year at 11.8 million – still far below the pre-recession level of 14 million in 2006. General Electric is boosting production of appliances in Louisville, Ky. Nissan is adding 1,000 workers to make lithium-ion batteries in Tennessee. Boeing hired 10,000 last year for its commercial aircraft plants in the Seattle area.

Heads up

Startup Palooza, a competition in which entrepreneurs pitch their business plans to venture capital firms, runs today at Citizen Space, 425 Second St. in San Francisco. Pitches from companies like Patisserie Carmen and Skillville Games are followed by Q&A sessions with VCs and the audience. Organized by Startup Saturdays, the talkathon also features an hour on how to outsource technology development and Web marketing.

January 14, 2012

Jan. 12, 2012 – Immigration Impact – Immigrants, Latinos and Asians Contribute More to Your State Than You Think – Hispanically Speaking News

http://immigrationimpact.com/2012/01/12/immigrants-latinos-and-asians-contribute-more-to-your-state-than-you-may-think/

Immigrants, Latinos and Asians Contribute More to Your State Than You Think

Image

Photo Credits: State Map

 

Immigration has never been a numbers game. When people think of immigration in America, they likely call to mind fear-fueled myths perpetuated by immigration restrictionists, like “immigrants are stealing American jobs” or “immigrants are a drain on our system.” Sadly, numbers and facts have rarely been part of the discussion, especially as state legislatures continue to take immigration law into their own hands. Today, however, the Immigration Policy Center published 50 state fact sheets updated to show just how much immigrants, Latinos and Asians contribute to our country as consumers, taxpayers, workers, entrepreneurs and voters—facts state legislators would do well to consider before passing legislation that drives immigrants, undocumented and documented, from their state.

 

Legislators in Alabama passed one of the most extreme anti-immigrant laws (HB 56) last year in response to the state’s “immigration problem.” According to the Pew Hispanic Center, Alabama’s undocumented population was 2.5% of total population (or 120,000 people) in 2010—lower than in 22 other states. While Alabama’s undocumented may be smaller than other states, however, their economic contributions are not. Alabama’s undocumented contributed more than $130 million in state and local taxes in 2010.

 

As Alabama continues to drive undocumented immigrants and their contributions from the state, they also run the risk of alienating documented immigrants, Latinos and Asians in the process. Alabama’s Latino and Asian populations’ combined purchasing power was nearly $6 billion in 2010. Alabama faces a $979 million budget gap in FY2012.

 

In California, whose undocumented population paid $2.7 billion in state and local taxes in 2010, some recently attempted (and failed) to overturn the California DREAM Act—two laws which allow undocumented students to enroll in California’s public colleges and universities and apply for state-based funding. Studies show that by 2025, California will not have enough college graduates to keep up with economic demand. The California DREAM Act may play a critical role in boosting the number of college grads.

 

Another part of Georgia’s extreme immigrant law (HB 87) went into effect this month, requiring people to show certain forms of identification before they can get among other things, professional business licenses. While this may seem pretty standard, business leaders in the state are worried that this will slow commerce, cause serious processing delays, and hurt an already struggling economy. At last count, Latino and Asian businesses in Georgia had sales and receipts of $20.6 billion and employed nearly 110,000 people.

 

State legislatures, the majority of which convene this month, are likely to continue to consider restrictive immigration legislation this year, but it’s critical that they consider exactly how much these punitive laws will cost their state. States are far from fully recovered from the economic recession and many still face large budget shortfalls into FY2013, according to Center for Budget and Policy Priorities.

 

Facts don’t lie. Immigrants, Latinos and Asians have and will continue to account for large and growing shares of state economies and populations. Can state legislators really afford to alienate such a critical part of its labor force, tax base, and business community?

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