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American Indian & Alaska Native-Owned Firms

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American Indian & Alaska Native-Owned Firms Fact Sheet American Indian & Alaska Native-Owned Firms ECONOMIC IMPACT: $34.4 BILLION IN REVENUES AND 185,000 JOBS a American QUICK FACTS a Indian/Alaska All Minority Non-Minority Native Firms Firms Firms ◊ There are 237,000 American Indian and Alaska Number of 237 5.8 20.1 Native (AIAN)-owned firms in the U.S. firms thousand million million ◊ AIAN-owned firms contribute $34.4 billion in Combined gross $34.4 $1.0 $9.8 U.S. economic output and 185,000 jobs per receipts billion trillion trillion year. Average gross $145.1 $178 $488 ◊ AIAN-owned firms with employees average 8 receipts thousand thousand thousand workers and $1.2 million in annual receipts. Number of firms 24 767 4.3 ◊ AIAN firms are more concentrated in California, with employees thousand thousand million Oklahoma, Texas, New York, Florida, Arizona, Combined and New Mexico. $27.5 $860.5 $9.1 receipts of firms billion billion trillion with employees Average receipts $1.2 $1.1 $2.1 of firms with million million million employees POPULATION BUYING POWER e Number of paid 185 5.8 50.1 AIAN All Minority Non-Minority employees thousand million million $64.7 billion $2.46 trillion $8.25 trillion ENTREPRENEURIAL PARITY OFFERS GREATER ECONOMIC IMPACT a,c Entrepreneurial Parity of AIAN-Owned Firms Entrepreneurial parity is defined Number of Firms (in thousands) Paid Employees (in thousands) Gross Receipts (in billions) as reaching 400 383 1000 $200 proportionality 826 $160 between the AIAN 300 800 $150 adult population and 237 600 200 $100 business measures, 400 such as number of $ 34 100 200 185 $50 firms, gross receipts, and employees. 0 0 $0 Actual Parity Actual Parity Actual Parity a U.S. Census Bureau, 2007 Survey of Business Owners, June 2010 Minority Business Development Agency b U.S. Census Bureau, Annual population estimates, June 2010 1401 Constitution Avenue, NW c U.S. Census Bureau, 2002 Survey of Business Owners, September 2006 dU.S. Census Bureau, Ownership Characteristics of U.S. Exporting Firms, June 2012 Washington, DC 20230 eUniversity of Georgia, Selig Center for Economic Growth, The Multicultural Economy 2009 202-482-2332 www.mbda.gov Industry Sectors of AIAN-Owned Firms a a,b Growth of AIAN-Owned Firms (2002-2007) Construction 16% 30% 28% Healthcare & Social Assistance 25% Professional, Scientic & 21% 29% Technical Services 20% 18% 11% Administrative Support, Waste 15% Management & Remediation 10% 9% Retail 5% 5% 10% Transportation & Warehousing -3.3% -1% 0% 6% Real Estate & Leasing 10% Other -5% 8% Gross Receipts Employees Number of Firms AIAN Firms Non-Minority Firms Other sectors include agriculture, utilities, manufacturing, wholesale, information, finance & insurance, accommodation & food services, and more. High-Revenue AIAN-Owned Firms a EXPORTS AND GLOBAL REACH d (Annual receipts over $1 million) ◊ AIAN-owned firms that export average $9.6 80% 67% million in annual receipts, compared to their non- 63% 60% exporting counterparts who avreage $128,000. 37% ◊ AIAN-owned firms were more likely to have 40% 33% operations established abroad than non-minority 20% firms. 0% ◊ Exports represent 2.9 percent of total revenue for Total Receipts Total Employees AIAN-owned exporting companies, compared to Firms $1 Million and Above Firms Under $1 Million 5.4 percent for all non-minority firms with exports. Two percent of AIAN-owned firms are considered high- revenue. These firms generate 67% of the receipts and 63% of all jobs created by AIAN-owned firms. GROWTH IN NUMBER OF AIAN-OWNED FIRMS (2002—2007) c WA ME MT ND VT NH MN OR NY MA SD CT WI RI ID MI WY PA IA NJ OH MD NE DE NV IN IL UT WV VA CO KS MO KY CA NC TN GROWTH RATES 0 to < 1% AZ OK SC NM AR 1 to < 2% GA 2 to < 4% MS AL 4 to < 8% TX 8 to < 20% HI LA Suppressed Data FL AK Visit www.mbda.gov for more information about U.S. minority-owned firms..
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