The Treasury Department Reports the typical Latino employer saw a 25% increase in revenues over the pandemic and recovery with the American Rescue Plan Act.
"Over the pandemic and recovery (2019-2022), the median growth rate in revenues was 25% for Latino employers. From 2019 to 2022, median weekly earnings increased 2.4% for Latino workers after accounting for inflation. At the same time, Latino unemployment hit a record low last September," reports the US Department of Treasury. Latino entrepreneurs, nationwide, have often been left out of growth opportunities, so it is fantastic news the federal dollars released over the past few years have reached this critical group of innovators and main street business owners.
We are proud to be a part of this rising tide! Since opening in June of this year, the AVANZA Empowerment Fund has approved *$1,000,000* for small businesses, the majority Latino. Through our work at Groundswell Capital, we are working to ensure that Tucson's economic growth will be equitable and inclusive.
Read the US Treasury Department's Press Release here: https://www.linkedin.com/feed/update/urn:li:activity:7130234078280224769/