HISPANIC BUSINESSES “SOAR” TO 23%; ASIANS GREAT YEAR
Is it surprising that the City of San Antonio paid $464,930,432 to San Antonio businesses in 2016? This is total according to the City’s Economic Development Report released February 2017. What is surprising to our readers is Black or African American companies earned 1% of this total or $6,264,799! Likewise, the majority population, the Hispanic or Latino business community earned 22% of the spend at $104,290,158, which compared to older City reports is an overall increase. The Asian Business community earned $7,163,081 or 2% of the spend which is also a record high spend for this community. The Asian Business community has almost matched its’
population percentage of 2.9% which supports they are maximizing every opportunity within San Antonio’s economy.
When looking at the city’s demographics, you can make your own assessment to the fairness and equity of the business relationships under the city departments of City Manager, Sheryl Sculley. Your City Council and Mayor are also responsible for how the City shares contract opportunity. If we look at the contributions of ethnic and racial groups in San Antonio, based on population, you can see the City of San Antonio receives taxes from all of these groups. Black or African-Americans represent 6.9%, Asian Americans 2.4%, and Hispanics or Latinos 63.2% according to the last Census
taken April 2010. While a little over 25% of the City’s spend going to these groups, that reflect more than 72% of the city’s population, is it surprising there are so many chambers of commerce’s trying to change the spending habits of our city.
We compared “the 1% spend” with Black businesses, to the salaries of our champion NBA San Antonio Spurs players. If Black Businesses of San Antonio, currently working with CoSA, were on the Spurs roster, they would fit just above now retired, Tim Duncan ($5,643,750) and below Danny Green ($10,000,000). Duncan and Green, also African-Americans, as individuals, are compensated in millions, while Black businesses with employees share the “little money” they make collectively. No wonder our children want to shoot hoops as their main motivation???
Even the Latino or Hispanic Community should not celebrate about breaking the $100 Million dollar mark in 2016. This figure is less than the total payroll for the San Antonio Spurs of $112,017,779 FOR 2016/2017.
The Economic Development Report showed zero dollars spent in 2016 with African American firms in Goods and Supplies. Please see the city's report below this article.
The next article we will look will at the Economic Impact the San Antonio Spurs actually bring to the East Side of San Antonio.
Click the link below to open the SBEDA ANNUAL REPORT:
SBEDA ANNUAL REPORT
Small Business Economic Development Advocacy Program