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Economic Contributions of Vietnamese Minnesotans, 2015

Bruce P. Corrie, PhD, Economist, Concordia University

On April 30, 2015 Minnesota celebrates the 40th anniversary of the fall of Saigon and the beginning of the Vietnamese diaspora to America. Vietnamese Minnesotans have contributed a lot to the local economy from businesses revitalizing many low income neighborhoods as well as the high tech sector. Governor Dayton proclaimed April 30, 2015 as Vietnamese Remembrance Day. (Denise Huynh brought this important event spearheaded by Vietnamese American Organizers of Minnesota, to the attention of Chai). Below is a snapshot of the economic contributions of Vietnamese Minnesotans:

    • 29, 448 Vietnamese Minnesotans ( ACS 2013)
    • 1693 businesses with $150 million in sales employing 1914 people with $31 million in annual payroll (Source: Survey of Business Owners 2007)
    • Total income of $638 million and consumer power of $478 million (estimated by author using ACS 2013 and assuming 25 % tax payments)
    • Vietnamese Minnesotans pay an estimated $70 million in annual Minnesota taxes (using Minnesota Tax Incidence study estimate of 11.5%)
    • 50 percent have educational degrees beyond high school (ACS 2013)
  • Vietnamese Minnesotans pay $20 million annually in rent (ACS 2013)
  • Minnesota exported $84 million of products and services to Vietnam in 2010. Exports grew 50 percent between 2010-104 (Trade Stats Express, 2014)
        Civilian employed population 16 years and over 14,476
          Management, business, science, and arts occupations 30.6%
          Service occupations 28.4%
          Sales and office occupations 13.2%
          Natural resources, construction, and maintenance occupations 3.4%
          Production, transportation, and material moving occupationsSource: ACS 2013 24.4%