Hispanic Heritage Month in Skagit County: Empowering Entrepreneurs and Boosting the Economy

Celebrating the Growing Impact of Latino/Hispanic Businesses in Skagit County

During Hispanic Heritage Month, it is timely to reflect on the contributions of the Latino/Hispanic community to the local economy. In Skagit County, this population is rapidly growing, already making up 20% of the residents, with projections indicating it could reach 50% in the coming years. This shift has been felt across industries, particularly in entrepreneurship, where Latino/Hispanic individuals are building thriving businesses and helping drive economic growth.

Jorge Estefan, the Equitable Economic Development Manager for the Economic Development Alliance of Skagit County (EDASC), highlights the significance of this community's role in the local economy. 

"Our county is about 20% Latino or Hispanic, growing fast. For reference, 53% of the school district is Latino or Hispanic, so in a few years, we're potentially looking at 50% of our population being from this community," Estefan explains. “It's crucial for these people to contribute to the economy not only as producers but also as customers for our services and products.”

Breaking Barriers for Latino/Hispanic Entrepreneurs

One of the key challenges facing Latino/Hispanic entrepreneurs in Skagit County and across the country is navigating the U.S. business landscape. Estefan provides the necessary resources and support for these business owners to succeed. "One of the programs we created was designed to help those who want to start a business but don't know how. We guide them through getting licenses, connecting them with capital, and even helping with basics like obtaining a Social Security number," says Estefan.

"The Economic Development Alliance also runs a ‘startup school’ in both English and Spanish, helping to break language barriers and providing valuable training. We do it in two 12-week cohorts: the first in Spanish and the second in English. This way, we can reach more people and help them take their business from an idea to a reality," Estefan adds.

"These efforts have already seen success, including the story of an entrepreneur who transitioned from working as a restaurant employee to owning a successful sushi business after participating in the program. "Our role is to guide people through the process. The hard work comes from them; we facilitate the connections and resources," Estefan says.

National Force: The Spending Power of Latino/Hispanic Communities

On a national scale, the economic influence of the Latino/Hispanic community is substantial. As per a 2023 Latino Donor Collaborative (LDC) U.S. Latino GDP report, the U.S. Latino gross domestic product is now valued at $3.2 trillion, and the U.S. Latino purchasing power is valued at $3.4 trillion. Estefan believes that Skagit County has the potential to benefit significantly from this trend. "The Latino/Hispanic community represents much spending power. It has been predicted that our community will grow four times faster than any other minority," he notes.

This rapid growth presents opportunities for Skagit County businesses to meet the needs of Latino/Hispanic consumers while also empowering this community to play a more significant role in the local economy.

 "We need to think about products and services that cater to this community while also building a strong workforce for the future," says Estefan. “Education is key, and the second generation has more opportunities than the first.”

Looking Ahead: The Future of Latino/Hispanic Contributions

Estefan sees a bright future for Latino/Hispanic entrepreneurship in Skagit County, driven by a commitment to education and community engagement. He emphasizes the importance of celebrating diversity and promoting local businesses. "We must start opening our businesses to other communities and growing our markets. Supporting local businesses is what truly impacts the economy," he concludes.

As Hispanic Heritage Month encourages us to reflect on the past and celebrate the present, Skagit County's Latino community is well on its way to shaping the future of the region's economy.

At EDASC, we are committed to empowering the Latino/Hispanic community and fostering inclusive economic growth across Skagit County. If you're an aspiring entrepreneur or an established business owner seeking support, resources, or connections, we are here to help. Join our programs, including Startup School, and access valuable guidance on everything from licensing to capital. Together, we can build a thriving, diverse local economy. Visit our website, call us at 360-336-6114, or email us at office@skagit.org to learn more about how we can support your business journey!