 |
 |
For Immediate Release Contact: Soumaya Sarayki The League for Economic Empowerment (LEE) and Wayne State University (WSU) Release the Southeast Michigan Arab American Economic Impact Study Findings on May 2, 2007. Detroit, MI, May 2, 2007.....The League for Economic Empowerment (LEE) and Wayne State University’s Center for Urban Studies announce the release of an Arab American Economic Impact Study. This groundbreaking scientific study quantifies the economic contributions that persons of Arab ancestry have on Southeast Michigan’s economy. The event will be held at the WSU Law School Partrich Auditorium at 6:00PM on May 2, 2007. This event is by invitation only. More than 150 business, university, and community leaders are expected to attend the program. Preliminary findings of the study suggest that up to $7.7 billion in wage and salary earnings in the Southeast Michigan economy are directly associated with Arab American salaries and business initiatives. This comprises almost 2.6% of all state tax revenues collected in 2005. “This study is the first of its kind in the State of Michigan and one of only a few studies nationally that measures the economic contributions of a particular ethnic or cultural group,” said Dr. Lyke Thompson, Director of WSU Center of Urban Studies, where the study was conducted. The study examined overall earnings, purchasing power, occupational/industry breakdowns and business ownership and used employment figures from the U.S. Census Bureau's Decennial Census and American Community Surveys. This study was funded by the League for Economic Empowerment, a group of Arab American professionals who joined together to advance issues of economic interest to the Arab American community in Southeast Michigan. “One of LEE’s goals is to leverage the human and financial strengths of our community in support of the economic development of this region. Metro Detroit is often cited as having the largest concentration of Arab Americans in the U.S., but this is that first time that a study objectively quantifies the impact of the community’s presence from an economic perspective,” said Osman Minkara, chairman of LEE and Managing Principal of the Capital Investment Group. “The results not only show the contributions of Arab Americans, but also highlight the opportunities for us as we move forward,” Minkara added.
|