September 19, 2015
In 2012 there were 47,565 minority businesses with $8.7 billion in sales, employing over 63,000 people with an annual payroll of $1.7 billion.
Minority business created more jobs than the largest employer in Minnesota – the Mayo Clinic (39,000 jobs, estimate of DEED).
The Number of minority businesses grew faster than non-minority businesses
While the number of minority businesses grew by 53 percent during the period 2007-12, the number of non-minority businesses declined by 3 percent.
Top minority business leaders, owners and practitioners as well as representatives from the Governor Dayton’s policy team and city leaders from Minneapolis and Saint Paul met at the campus of Concordia University on Friday, September 18 to hear presentations from two economists on the latest data on minority business growth in Minnesota.