Main Street is the typical street in America where you can find stores as American as the Chinese Cleaners, the Mexican Taqueria, the Pizzeria from Tuscani, the Iranian bakery, the Korean Beauty Saloon or the Irish Pub.
The country has nearly 10,500 streets with that name. Essential in every single downtown –New York, N.Y. or Waukegan, Ill.–, all over the country, the small and independent little businesses are the heart of the communities.
And this being a nation founded by immigrants and renewed by the different waves of newcomers through its history, it should be no surprise that Main Street is maintained and run by these immigrants.
“In the United States between 2000 and 2013, including the 31 major metropolitan areas 31 of the 50 largest metro areas, immigrants account for all the growth in so-called Main Street, according to a new study based on analysis census data”, published recently by Miriam Jordan in The Wall Street Journal.
And she is right. Even in these times when giants like Wal-Mart or Costco have managed to control the entire global supply chains of many products and services, small and independent businesses, remain the driving force behind job creation and consumption of the country.
According to a study by the Fiscal Policy Institute, in 2013 a third of all small and independent business were owned by an immigrant.
We know that immigrants remain brave enough to take risks (here we are) and become the entrepreneurs who have opened almost all small businesses that characterize this important segment of the economy.
Asian and Latin American immigrants are the ones who keep alive the illusion that this is a country of middle classes with opportunities for all.
Together the two groups will represent in a couple of years a formidable economic force of around $ 2.7 trillion in buying power.
Nowadays, the society as a whole (with some exceptions) has overcome the incapacity of the political class to recognize the obvious, that the immigrants are also Americans. Highlighting the importance of the Latino economy is essential to understand the reasons behind this new Latino momentum.
There is demography: soon enough Latinos will represent one third of the country’s population. There is work: we have the highest labor rate presence in the nation. There will be the votes: a potential 25 millions strong force that won’t let the political extremist to mess with them.
But this is America. It is about the money. Even we are aware of that. Today Latinos represent a market of $1.5 trillion and the Asian immigrants almost another $1 trillion. Both are the fastest growing consumer segments of the nation. Together they are a force that not even the U.S. Congress can ignore.
Back to Main Street the vast majorities of the people already know and approve the owners of Main Street. They understand that they are no “aliens”, but fellow workers, neighbors, and friends. And probably more important: costumers and clients as well.
If you want we could say that it is about the values and respect for the country’s history; that too. But even for someone a little too pragmatic, like the guys in the House of Representatives, they could very well think about all that money.
