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INTERNATIONAL INSTITUTE

INTERNATIONAL INSTITUTE. An Economic Engine. Business Links. More than 180 businesses 250+ jobs $24 mil in client revenue $45.5 million in total economic impact 77% business success rate (3+ years in business)

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INTERNATIONAL INSTITUTE

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  1. INTERNATIONAL INSTITUTE An Economic Engine

  2. Business Links More than 180 businesses • 250+ jobs • $24 mil in client revenue • $45.5 million in total economic impact • 77% business success rate (3+ years in business) • Affiliate partnership to serve clients at the Midtown Enterprise Center (recent dev)

  3. IDAs & Financial Education • 392 refugees acquired productive assets to help them achieve economic security • Total savings + match = $2,300,000 • Total value of assets purchased more than $10 mil • $7.5 mil value in first home purchases

  4. EITC Tax Assistance • Major provider with Gateway EITC Community Coalition • For new Americans & community at large • This past tax season – filed 200 tax returns • Brought $200,000 back to the community to households with $12,000 av income

  5. Why an Institute CDC (IICDC)? • Flexible structure – specific economic development bylaws and board focused on community economic dev. activities • Protect primary assets of Institute while assuming greater financial risk • Establish stronger economic dev identity, yet complement social service org. • New entity better able to grow under umbrella of a well-established organization

  6. Other Advantages? • A supportive environment through a CDC infrastructure: • Access to public funding at all levels • Ability to attract equity investment • Training & other resources through intermediaries, such as The Enterprise Foundation, LISC and NCCED

  7. Missions Mutually Supportive • II: To strengthen the St. Louis community by helping immigrants and their families become secure and successful Americans and by promoting the value of ethnic diversity in the social, cultural and economic life of the region. • IICDC:To engage in community and economic development activities that will build secure and successful neighborhoods in St. Louis and the surrounding area where low-to-moderate income immigrants and refugees live and work.

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