Friday, April 12, 2024

Latino Entrepreneurs and Economic Experts Gather at First Latino Economic Summit

More than 150 key Latino entrepreneurs and business leaders from across the country met in Washington D.C. for the first U.S. Latino Economic Summit hosted by Wal-Mart Stores, Inc. and LATINO Magazine.

Gene Sperling, adviser to U.S. Department of the Secretary Timothy Geithner and senior fellow at the Center for American Progress, was the keynote speaker and spoke about how small  businesses are the engine of economic growth in this ailing economy. He said, “I can’t tell you how supportive I am of the formidable platform the administration is building on education, healthcare, economy and sustainability reform.”

Publisher of LATINO Magazine, Alfredo Estrada, said, “Mr. Sperling is a key player in our nation’s economic recovery and we look forward to his counsel and leadership impacting the Latino business community.”

The summit coincided with the launch of Latino Magazine and addressed many of the financial challenges Hispanic entrepreneurs and small business owners are currently facing across the country due to the lack of credit. Other speakers included Aida Alvarez, former Administrator of the U.S. Small Business Administration, and Congresswoman Nydia Velazquez (D-NY), Chair of the Congressional Hispanic Caucus and of the US House Small Business Committee, who discussed the future of the economy and where Hispanics can play a role in a town hall.

According to the HispanicTelligence(R), 2 million Hispanic-owned businesses contribute to the U.S. economy by creating jobs and generating more than $388 billion in annual gross receipts and by 2010 there will be 3.2 million Latino firms generating an estimated $465 billion.

“LATINO Magazine focuses on the issues most relevant to our community, and the growth of Latino-owned businesses is one of the most important issues facing us today,” said Estrada. “This is why we are proud to be part of the first Latino Economic Summit to help business owners survive and thrive.”

In a panel discussion about the new economic and political landscape, former U.S. Department of Commerce Secretary Carlos Gutierrez stressed the importance that affairs in Latin America have an impact on Latinos in the states citing political circumstances that drive immigration. He spoke about the recent drug violence in Mexico and Vice President Joe Biden’s visit throughout Latin America, concluding that “Latin American issues are Latino issues”.

Dewey Square Principal Maria Cardona spoke about the importance of education and how it can serve as a catalyst for future Latino business leaders.

Representatives from major corporations and some of the nation’s largest Hispanic organizations such as the Congressional Hispanic Caucus Institute, the U.S. Hispanic Chamber of Commerce and the National Council of La Raza also participated in the summit

Latino Magazine