The ALANA Engine for Economic Growth in Minnesota

Dr. Bruce P. Corrie, PhDDean, College of Business and Organizational

Leadership, Concordia University-St. Paulcorrie@csp.edu

www.ethnictrends.info

The Governor’s Job Summit, Saint Paul, October 25, 2011

New Engine for Economic GrowthThe ALANA Economies

The ALANA Engine for Economic Growth in Minnesota

• 12 billion dollars in Consumer Power• Entrepreneurs as a group will be 15the largest in state -

revenue of $5.8 billion in 2007, larger than St. Jude Medical, Toro and Deluxe

• Entrepreneurs as a group will be the 9th largest employer, bigger than General Mills, Ecolab and Hormel, employing almost 40,000 with an annual payroll of $1.1 billion.

The ALANA Engine for Economic Growth in Minnesota

• Trade Networks – Minnesota’s major trade partners have ALANA connections – Asia, Africa, Latin America

• ALANA workers will be critical part of MN’s future workforce and tax base by 2030

• ALANA voters critical part of the voting base all across Minnesota.

• ALANA Cultural Capital helps make MN a Global destination

Strategies to Tap this Energy• Government• Private Sector• Community

Government

• Leverage the power of its spending to grow these economies – set a goal to increase utilization of these firms and monitor implementation• Contracts, professional services, other• Following the City of Saint Paul, leverage bank deposits,

investments, spending to build the common good in return for state business

• Use the power of “influence”• Teach Minnesota that these communities are “assets” not

deficits• Convene “influence leaders” in the private and public sector to

achieve positive outcomes

Private Sector

• Realize the “business value” and potential of ALANA communities

• Build networks of businesses, mentoring, collaboration with ALANA businesses and communities

• Integrate the ALANA communities into business and strategic decisions

• Remove barriers to success within and across firms to ALANA talent and businesses

• Integrate Buy MN Ethnic/Grown MN Ethnic within the Buy/Grow Local campaign

Community

• ALANA Capital is Minnesota’s Capital that will help the state become globally competitive

• Unleash the productivity, talent and opportunities that the ALANA communities present to Minnesota.

A Blue Ocean Strategy

• Direct DEED, METCOUNCIL, MNDOT to work with the community to develop a new job creation growth strategy

• Ethnic Cultural Heritage Tourism – a new market with tremendous potential in Minnesota• World Cultural Heritage Districts in Saint Paul and

Minneapolis •Ethnic Commercial Corridors ( University Avenue, LaKe Street,

Franklin)•Ethnic Destinations – Little Mekong, African Safari, African American

Cultural Heritage Corridor etc•Native American Reservations