According to the 2018 Office of New Americans Report, despite making up only 20.7% of the overall population, immigrants represent 36.4% of the entrepreneurs in Chicago. The approximately 39,000 immigrants generated $659 million in business income. The study also reported they earned $17 billion in household income, and paid $6 billion in taxes in 2016 alone.
There is a strong connection between the immigrant community and the entrepreneurial dream. SomerCor was proud to participate in a special panel discussion with community organizations focused on immigrant entrepreneurship in Chicago. SomerCor President, Manny Flores, addressed the critical importance of access to capital in all communities. It was a great event – featuring remarks by Chicago Mayor, Lori Lightfoot. Special thanks to the Chicago Department of Business Affairs and Consumer Protection for hosting!
