The city of Philadelphia is hosting its first Immigrant Business Week.
The City’s Department of Commerce and Office of Immigrant Affairs are hosting a week of events to celebrate and promote the contributions of immigrant entrepreneurs and help bring business owners together with resources. Mayor Jim Kenney said immigrants are helping to improve the city’s economy.
“immigrant businesses contribute significantly to our country’s economy, especially to the city. They pay taxes, purchase properties help sustain our city’s financial stability.”
Kenney said a new report confirms his assessment.
“According to a report by the fiscal policy institute 96 percent of the growth of our city’s main street small businesses between 2000 and 2013 was as a result of immigrants.”
In the City of Philadelphia, immigrant entrepreneurs are responsible for $770 million, or 72 percent, of the total small business earnings.