Bruce P. Corrie, Ph.D., Dean of the College of Business and Organizational Leadership at Concordia University, has compiled newly available data on Asian-owned firms in Minnesota.
The Survey of Business Owners released on April 26, 2011 estimates that there are 11,382 Asian owned businesses in Minnesota with $2.4 billion in revenue, employing 17, 465 people with an annual payroll of $436 million.
Hennepin County had the largest number of Asian owned businesses – 4,149 with $1 billion in revenue. Other counties with Asian owned businesses were Ramsey, Dakota, Anoka, Washington, Scott, Olmsted, St. Louis, Wright, Stearns, Sherburne, Carver, Blue Earth and Chisago County.
Asian Indian owned firms were the largest number of Asian owned firms in Minnesota, followed by Chinese, Vietnamese, Korean, Filipino and Japanese. The Survey of Business Owners did not provide statistics for Hmong businesses.
These are more likely to be classified under the “other Asian owned firms.” There were 3, 271 “other Asian owned firms” with $507 million in revenue in Minnesota in 2007.