Pivotal shifts are underway in America’s economic future, driven by technological advances, digitalization of business operations and jobs, sustainability practices, and evolving supply chains. Added to these aspects are demographic changes, as Latinos are projected to represent 78% of net new workers entering the US labor market between 2020 and 2030 (Dubina 2021), cementing the role of Latinos as key future cornerstones of the US economy.

Moreover, Latino businesses grew 35% over the last decade, compared with 4.5% for white-owned businesses, fueling America’s economic growth.

To address the challenges and opportunities of the new economic landscape, the federal government is leveraging the post-pandemic recovery and investing in critical sectors. Investments are focused on emerging sectors: artificial intelligence (AI), green energy technologies, semiconductors, and advanced manufacturing. Simultaneously, tackling historical disparities in economic access is crucial, ensuring technological advances benefit all for a more sustainable and resilient economy.

The growth of Latino businesses is both a critical link for and a primary benefactor of the seismic economic shifts taking place. To seize the moment and ensure continued growth and inclusion, Latino businesses need a clear roadmap and actionable strategies. This white paper summarizes the main takeaways from the Aspen Latino Business Summit, hosted by the Aspen Institute Latinos & Society Program on September 7, 2023. An annual event in Washington, DC, the Latino Business Summit is a top-tier platform connecting local leaders to national networks, federal policymakers, and influential investors to examine successful, innovative efforts in growing Latino-owned businesses (LOBs) across crucial disciplines.

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ONE PAGE SUMMARY

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