 Dear Friend,It’s Hispanic Heritage Month, and we proudly celebrate the many individuals and families we serve here at People’s with heritage stemming from all over Latin America. Throughout our communities, and within our own organization, we honor those whose Latinx histories and cultures, enrich our lives. An estimated 80% of our resident population and 60% of our People’s workforce is Latinx.
Across the United States, Latinos are a vital part of the national fabric that strengthens and binds us together. Accounting for nearly 80% of all new businesses created during the past decade, and as measured by contributions to our Gross Domestic Products (GDP), they annually contribute close to $3 trillion. According to latitude.net, “If US Latinos were a stand-alone country, they would account for the 8th largest GDP economy in the world – larger than the GDPs of Italy, Brazil or South Korea.”
As a cohort, it has added to our economic growth at a four times faster rate, when compared to the non-Latino US cohort, even during the last recessionary period. Though in many cases having limited investments to work with, the Latino community has skillfully leveraged resources into many outsized successes. More specifically, Latinas are the fastest growing entrepreneur demographic in the U.S. “We know that Latinas start the most companies; but imagine what they could do if they had the support, the access, the capital and the mentorship,” Beatriz Acevedo, CEO and Co-Founder of Suma Wealth was cited in an article in Forbes last year.
In addition to such significant economic achievements gained through strong and persevering work ethic, we all enjoy immeasurable additional contributions that permeate every facet of our lives, through many diverse Latinx experiences, talents and skills engaged in all our communities. We honor the abuelitos/as, tios/tias, hijos/as, and other “gente” of People’s!
Though undercapitalized and under-resourced, disproportionally affected by COVID-19 and, according to the Stanford Latino Entrepreneurship Initiative, receiving less government relief, it is a bright, energetic, educated and notably resilient Latino labor force that has clearly shone through.
Your partnership and investments with us have significant and lasting impacts in supporting our communities that include those of Latinx heritage. You are supporting, educating, and creating access to much-needed resources for our residents every day. With your help, and through their hard work and perseverance, opportunity is capitalized, positive local outcomes magnified, and bright futures burnished. Thank you for your ongoing care and contributions.
Ken Trigueiro, CEO & President
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Student Success Drives Expanded Programming
Rental Assistance for Residents
