business (274)

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The resurgence of many American cities over the last 30 years came as a surprise. After a brutal mid-century, defined by deindustrialization and white flight, cities from Oakland to Boston saw their fortunes revive. Population rebounded, crime fell, business activity hummed.

The single biggest reason why some American cities rebounded beginning in the 1990s was because of immigration. In areas like Northeast Philadelphia and East Boston, as domestic white Americans continued to leave the city, foreign-born arrivals moved in and kept the streets vibrant. READ MORE AT GOVERNING

 

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Latinos in the U.S. and Latin Americans are more likely than others to reconsider the workplace after the pandemic, Marina writes. Two-thirds of Latinos polled in Microsoft’s  say they are now much more conscious about prioritizing health over their work when it comes to going to the office, and 60% say they are considering changing jobs in response. READ MORE AT AXIOS

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Entrepreneurs protect the economy

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Economies across the globe face a double-headed threat: record levels of unemployment and towering public debt. Over the past two years, many western governments' response to one has come at the cost of the other; furlough schemes and stimulus cheques have left government balance sheets looking worryingly red.

It’s time to take a more aggressive approach. READ MORE AT THE HILL

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Top 10 US cities for entrepreneurs of color

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Just 18.7% of all businesses in the US are minority-owned, despite ethnic and racial minorities making up 40% of the population. For entrepreneurs of colour who face systemic barriers like a lack of funding, choosing the right location to start or scale a business is important. 

If you’re a startup owner of colour looking for funding, resources and support, these top 10 cities are worth relocating to, a JobSage report reveals. READ MORE AT BUSINESS CHIEF

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7 tips to boost small business sales in 2022

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Transforming ideas into reality is one of the most fulfilling things that a small business person does. However, it’s not enough to just have an idea and start a business. To succeed in the long term, you need to put in the work to make your basic brand story thrive through the equally important elements of strategy and execution. READ MORE AT BUSINESS2COMMUNITY

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Everyone wants to be an Entrepreneur

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Applications for new businesses rose 20 percent last year, after languishing for a decade. Many newly minted founders attribute it to the pandemic.

“People have become disaffected with what they’re doing, and might as well do the thing they've been wanting to do for a while,” says Stewart Thornhill, executive director of the Zell Lurie Institute for Entrepreneurial Studies at the University of Michigan. Some people who were furloughed or laid off near the start of the pandemic became entrepreneurs out of necessity. Others took stock of their good-enough jobs and decided they could do something better. READ MORE AT WIRED

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With dramatic growth in the U.S. Hispanic population, the number of Hispanic-owned businesses is growing faster than in other ethnic groups. And Latino entrepreneurs are going far beyond the sterotypical blue-collar industries like restaruants, hospitality and construction.

A January report from Stanford University concluded that Latino-owned businesses with employees are more likely than their white-owned counterparts to be technology innovators. The study found that 19% of Latino-owned firms develop and sell a tech or software product, compared to 14% of white-owned firms. READ MORE AT GBH

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According to a report by UCLA’s Latino Policy & Politics Initiative, Latinas are leaving the workforce at higher rates than any other demographic.

For some Latinas, the mirage of the American Dream faded amid the Covid-19 pandemic, and many chose to divest from the cultural, societal, and professional standards placed on first- and second-generation communities. READ MORE AT REFINERY 29

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FOR IMMEDIATE RELEASE:
December 10, 2021
CONTACT:
DCASE Communications, dcase@cityofchicago.org
Jamey Lundblad, Jamey.Lundblad@cityofchicago.org

 

MAYOR LIGHTFOOT AND DCASE ANNOUNCE NEW “CHICAGO MADE” INITIATIVE TO STRENGTHEN CHICAGO’S TV & FILM INDUSTRY

Innovative workforce development program and public awareness campaign are outcomes of Mayor Lightfoot’s COVID-19 Recovery Task Force

CHICAGO—Mayor Lori E. Lightfoot and the Chicago Film Office at the Department of Cultural Affairs and Special Events (DCASE) today announced a new initiative to strengthen Chicago’s TV and film industry. The new “Chicago Made” workforce development program and public awareness campaign are based on recommendations from the City of Chicago’s COVID-19 Recovery Task Force outlined in the Forward Together advisory report. “This initiative will play an important role in the resurgence of our city’s TV and film industry, which remains one of the largest and most diverse in the country,” said Mayor Lightfoot.

“Chicago’s growing film industry not only ranks our city first in the Midwest for production, it also highlights the diverse culture and immense talent
found throughout our 77 neighborhoods.” The Chicago Film Office at DCASE has partnered with management consulting firm XD-TECH to deliver an innovative workforce development program that aims to transform the region’s TV and film workforce — by offering job training and placement to Chicago residents ages 24 to 50, primarily from underserved areas of our city, to help meet the industry’s increasing demand for skilled workers. Many of the positions are entry-level and do not require a college degree including carpenter, costumer, grip, lighting tech, production assistant and set decorator.

Twenty-five participants will be selected for the first cohort, across 12 career pathways. More than 20 industry partners are providing training or other supports for the program. Chicagoans interested in this opportunity should register for a virtual info session on Friday, December 10 at 6pm CST and can learn more (including eligibility criteria and pre-requisite requirements) at XDTechIndustry.com/ChicagoMade. Applications to participate in this free program are due by December 15.*

*Participants with previous training and/or specific pre-requisite skillsets will be prioritized in order to maximize the effectiveness of the condensed training period.

“Chicago film production is on track to hit an all-time high this year,” said Kwame Amoaku, Director of the Chicago Film Office. “The new ‘Chicago Made’ initiatives will increase our capacity to serve and accelerate the growth of the local industry — building our workforce while supporting residents in every neighborhood.”

The Chicago Film Office led the City’s efforts to bring a record 15 productions to Chicago this summer, at an estimated economic value of well over $700 million this year alone. In 2019, the Illinois film industry employed 20,000 people and 51% of local crew hires were women or minorities. NBCUniversal, Netflix, The Walt Disney Company and WarnerMedia will provide onset training for the workforce development program. The following partners consulted on the curriculum and will provide direct training support: Association of Independent Commercial Producers (AICP) Midwest; Brittanni Perkins, production
accountant; Chicago Filmmakers; Essanay Studio & Lighting Co.; IATSE Local 476; IATSE Local 600; IATSE TWU Local 769; Keslow Camera; Last Looks Chicago; The Mill; ONE at Optimus; Panavision Chicago; and Periscope Post & Audio.

Additionally, BTECH Studios and Creative Cypher are working with XD-TECH on program outreach and implementation. Bloomberg Associates, Columbia College Chicago and Kennedy-King College provided consultation support. Additionally, DCASE is launching an ongoing public awareness campaign using the “Chicago Made” brand to highlight the vital role Chicago’s TV and film industry plays in the city — benefiting Chicago residents in all 50 wards (both residents affected by filming in their neighborhood and Chicagoans interested in film production jobs) as well as industry stakeholders. The campaign will showcase the industry’s enormous economic impact, introduce local film workers as neighbors and friends and
highlight the diversity of “reel” jobs available across our city. The campaign’s creative will emphasize the grit and authenticity of Chicago’s film industry and its unique style of filmmaking — via digital billboards, advertising on CTA trains and busses, advertising at O’Hare, social media, community news and more. Learn more at ChicagoMade.us (launching soon; Music and other creative industries to be added in 2022) and join the conversation on social media using #ChicagoMade.

# # #
Chicago Film Office
The Chicago Film Office is part of the Department of Cultural Affairs and Special Events (DCASE) and leads the City’s efforts to attract and enhance the production of feature films, television series, commercials, documentaries and all forms of local screen entertainment. For filmmakers, it is a one-stop liaison for all City of Chicago production needs, including permits, City services and logistical support. For more information, visit chicagofilmoffice.us.
Chicago Department of Cultural Affairs and Special Events The Department of Cultural Affairs and Special Events (DCASE) is dedicated to enriching Chicago’s artistic vitality and cultural vibrancy. This includes fostering the development of Chicago’s non-profit arts sector, independent working artists and for-profit arts businesses; providing a framework to guide the City’s future cultural and economic growth, via the Chicago Cultural Plan; marketing the City’s cultural assets to a worldwide audience; and presenting high-quality, free and affordable cultural programs for residents and visitors. For more information, visit chicago.gov/dcase.

RESOURCE LINKS:
 
Film & Tv Workforce Training Program
 
XD-TECH
 
 
BTEC
Instagram @officialbtec
Twitter @btec312
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Big wage gap hinders Latino economic mobility

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Latinos will make up more than 1 in 5 U.S. workers by 2030. Yet despite high rates of job participation and entrepreneurship, a massive wage gap is one of the factors hindering their economic mobility, a new study has found.

The wage gap for Latinos is as high as $288 billion per year, according to "The economic state of Latinos in America: The American dream deferred," a report by McKinsey & Co. in partnership with the Aspen Institute, which was released Wednesday. READ MORE AT NBC NEWS

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There have been more new businesses formed so far this year than ever. Literally ever.

According to data from the US Census Bureau analyzed by the Economic Innovation Group, there were about 1.4m new startup applications filed with the government through 30 September 2021. That’s compared with 1.14m during the same period in 2020 and 987 thousand in 2019. Every year before had been significantly less. READ MORE AT THE GUARDIAN

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Hispanic Americans have long dealt with racial discrimination and unfair lending practices, contributing to a racial wealth gap between Hispanic and white families. A survey from the Pew Research Center found that 70% of Hispanic Americans said they didn't have emergency funds to cover at least three months of expenses during the pandemic, and more than half said they worried daily or frequently about keeping up with expenses.

Those already-grueling financial circumstances have only grown worse over the past 18 months. Earlier in the pandemic, the Paycheck Protection Program provided over $521 billion in funding and over 5 million PPP loans to small businesses. However, Latino business owners didn't reap the benefits of the first round of funding. READ MORE AT INSIDER

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Fear of debt keeps Latinos out of college

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Fear of never being able to pay off school loans is keeping many young Latinos in the U.S. from going to college or completing a degree, according to a report published in September. Latinos tend to have more difficulty repaying school debt than white student borrowers, according to Federal Reserve data, at the same time that they need more loans in order to afford tuition. READ MORE AT AXIOS

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Latinos play a key role in economic growth as their buying power jumped to more than $1.7 trillion, according to a report from the University of Georgia. In 2020, the census pointed out a drastic national spike, with Latinos making up more than half of the population’s growth.

Their buying power is a driving force in economics ­as they reach closer to nearly $2 trillion, according to US Hispanic Market Report. READ MORE AT NBC10 NEWS

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Gil C. Quiniones Named CEO of ComEd

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Veteran Energy Industry Leader to Continue Utility's Successful Track Record of Delivering Reliable, Affordable and Clean Energy to More Than Four Million Illinois Customers.

CHICAGO (October 14, 2021) — ComEd today announced Gil C. Quiniones will become CEO of ComEd, effective Nov. 15, 2021. Quiniones, who has served as president and CEO of the New York Power Authority (NYPA) for the past 10 years, will report to Calvin Butler, CEO of Exelon Utilities, who also has been serving as interim CEO of ComEd since Oct. 1, 2021. 

Quiniones is a proven industry executive with more than 30 years of relevant leadership and operational experience extending across regulated utility markets, the public and private sectors, and state and local governments. For the past decade, he has been the CEO of the nation's largest state-owned public power organization. He is an internationally recognized leader in modernizing power grids, and delivering clean, safe and affordable energy for customers, leading to economic and environmental benefits for diverse communities.

"Gil is an experienced electric utility leader, with a proven ability to deliver world-class performance for customers and strengthen and uplift communities, including in urban areas, making him ideally suited to be the CEO of ComEd," said Butler. "In addition, Gil is a high-integrity leader who is focused on ethics, equity and doing what is best for our diverse customers, communities and employees. We are confident that, under his leadership, ComEd will continue to be recognized as one of the cleanest, most reliable and most affordable utilities in America."

"It's an honor to be named CEO of ComEd, and I look forward to working closely with Calvin and the entire utility management team to lead this nationally recognized energy company," Quiniones said. "I share ComEd's vision for a clean and resilient energy future that benefits customers and communities across northern Illinois and commit to continuing ComEd's legacy of local partnership with and investment in the communities it is privileged to serve."

John R. Koelmel, chair, NYPA Board of Trustees, said, "Gil is an outstanding person as well as a tremendous leader. Over his tenure at NYPA, the combination of his passion, vision, industry knowledge and business acumen has positioned us as an industry leader. He has fostered a strong internal culture based on excellence, integrity and safety and has created positive relationships with the many customers and communities we serve. We wish Gil every success as he assumes his new leadership role with ComEd."

About Gil C. Quiniones:
Quiniones has served as president and CEO of NYPA, the nation's largest state-owned public power organization, since 2011. Prior to this role, he served as COO and executive vice president, Energy Marketing and Corporate Affairs. Before joining NYPA in 2007, Quiniones spent four years at the New York City Economic Development Corporation, where he served as senior vice president and the principal energy adviser to Mayor Michael R. Bloomberg. Prior to this, Quiniones worked for 13 years at the Consolidated Edison Company of New York, a regulated electric and gas utility, and ConEdison Solutions, the utility's unregulated energy services subsidiary. He was a co-founder and managing director of Energy Services at the subsidiary, where he led profitable revenue growth.

Quiniones has served as chair of GridWise Alliance; a board member of Emera Inc.; chair and board member of the Electric Power Research Institute, where he rejoined the board in April 2021; chair and chair emeritus of the Alliance to Save Energy; chair-elect of the Smart Electric Power Alliance and vice chair of the New York State Energy Research and Development Authority; a board member of the Large Public Power Council; and a member of the Electricity Subsector Coordinating Council and the International Energy Agency's Global Commission for Urgent Action on Energy Efficiency. Quiniones plans to resign from all current board memberships in order to devote his full attention to his ComEd duties. He holds a B.S. from De La Salle University in Manila. In 2020, he earned a Corporate Director Certificate at Harvard Business School.

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Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on FacebookTwitterInstagram and YouTube.

 

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