The Rise of Asian-Owned Businesses in Massachusetts
Contributing Organization(s): Immigrant Learning Center, Inc.
Author(s)/Creator(s): Paul Watanabe; MIchael Liu
Publishing Date: 2007-06-05
Issue Areas: Immigration
Ownership/Rights Info: Copyright 2007 The Immigrant Learning Center, Inc. All rights reserved. Material may be reproduced in whole or in part if The Immigrant Learning Center, Inc. and the authors are credited.
Asian-owned businesses are following a very rapid growth trajectory in Massachusetts. In the last economic census from 1997 to 2002, they increased by 44 percent. This growth is nearly double the national gain of 24 percent for all Asian-owned firms in the United States and astounding when compared to the overall growth rate of 5 percent for all Massachusetts firms. Sales and receipts increased 20 percent in the same period, three times greater than the increase for all firms in the state. The growth in the number of paid employees was also three times greater than the six percent increase for all firms in Massachusetts. By 2002, there were 18,081 Asian-owned firms with sales and receipts of $5 billion and employing over 37,000 people. Professional, scientific and technical services had the largest annual payroll, followed by accomonations/food services, health care and retail trade. Whether as publishers, developers of healing and wellness centrs or as hair salon owners, Asian Americans in these businesses, and in countless other entrepreneurial pursuits, are changing the face of business ownership in the Bay State.
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Note: Print copies are available free of charge and can be obtained by emailing Ewa Goodman at egoodman@ilctr.org
Intended Audience: Advocates; College/University Professors; General Public; Legislators/Legislative Aids; Policy Professionals; Researchers
Coverage: Massachusetts
Type/Format: Dataset; Survey
Language code: English
Coverage: Massachusetts
Type/Format: Dataset; Survey
Language code: English
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