No taken from formal statistics; although very reliable and conservative numbers from LEDC’s internal counts

• In 1996 there were 4 Latino-owned businesses on Lake Street
• As of September 5, 2007 there are 253 Latino-owned businesses on Lake St. between 1st Ave and 27th Ave
• 253 businesses pay an average rent of $900 per space, totaling $2,732,400 on rent annually, not counting utilities, leasehold improvements, individual security, etc.
• Those 253 businesses have at least 10 vendors/distributors which about half of them are local, total number of vendors benefiting from Latino-owned businesses 2,530
• Those 253 businesses employ at least 854 people (a very conservative number)
• If 60% of those employees earned $9/hr and 40% $7.50, then annual payroll will be $15,986,880, that is above 16 million on payroll just on part of Lake St; please note, employees of Latino focused organizations on Lake St. are counted on those 854 but they earn more than $9 per hr.
• At least 16 Latino-owned buildings on Lake St. area
• Those 16 buildings average price $900,000
• Latinos own $14,400,000 on Real Estate on Lake St. area
• Building owners pay average of 25% property taxes on Lake St. that is $3,600,000 annually
• 13 Malls/shopping centers/bazaars/markets on part of Lake Street (about a mall every two blocks) most of them with Latino only businesses:
  • Sabri Properties                   4 Latino-owned businesses
  • Bazaar International              22
  • Hacienda Plaza                     6
  • Lake Plaza                             75
  • Star Building                          6
  • Midtown Global Market        9
  • Dña. Berta                             3
  • Los Gallos                              5
  • New York Plaza                     3
  • Mercado Central                   50
  • Plaza Verde                           9
  • La Mexicana                          5
  • Paco Building                        2
  • “Se habla Español”               12

• 40 Loans approved to Latino businesses by one non-traditional lender since 2005, totaling $609,000; average loan $15,042.
• Most of these 253 businesses started with owner’s equity

Other important Twin Cities corridors where Latino-owned businesses exist:

Nicollet, Lyndale, Hiawatha, Cedar, Bloomington, Franklyn, Central Ave, Payne, Concord

More Latino-owned businesses starting and growing on Minnesota non-urban and rural areas.