Why Join the Chamber?

1. Economic growth cannot be sustained without the inclusion of minority businesses and an infusion of capital into those businesses. Absent broad-based institutional investor participation in minority and immigrant business communities – soon to be the new majority of businesses – continued growth in the American economy is impossible, affecting not just minority businesses but putting the nation’s macroeconomy at risk.

2. Minority-owned firms are surpassing the growth of all U.S. businesses, growing at a rate of 17 percent per year, six times the growth rate of all firms. Minority firms’ sales are growing 34 percent per year – more than twice the rate of all firms.

3. Current growth, technology driven, is deep, but not broad, and shared unequally. A broader participation base is mandatory to sustain growth. African Americans represent 12.5 percent of the U.S. population and 3.6 percent of firms. Latinos represent 11 percent of the population and 4.5 percent of firms. Asian Americans represent 4 percent of the population and 3.5 percent of firms.

4. America’s economic future is so inextricably linked with minority and immigrant groups that investment in these communities is essential. Demographic trends point to a disproportionately white retired population, directly or indirectly dependent upon an economic base whose contributors are younger members of diverse racial and ethnic makeup. Women and minorities comprise an increasingly important part of the U.S. economy that continues to rise in all sectors of the labor market. If pension funds and other institutional investors fail to invest in these emerging domestic markets they will be unable to meet the high yield returns on investment necessary to sustain the aging baby boomer population.

5. Minority businesses are a driving force behind growth and will be a major segment of the U.S. economy in the 21st century as a transition to a more diverse demographic majority emerges. Asset managers need to tap these sources of higher profits and growth in the minority business sector to sustain yields necessary to cover longer-term liabilities demographically driven by the aging majority boomer population increasingly dependent upon the productivity and growth of an emerging new majority of firms and

6. The minority business community is growing, profitable and free of the risk inherent in more distant markets. Failure to invest in this business sector will lower productivity and likewise act as a brake on the economy.

Community Benefits Agreements would boost neighborhoods, small businesses
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