Businesses in Kentucky

Transcription

1 Black-Owned Businesses in Kentucky Old Capitol Annex 3 West Broadway Frankfort, KY Phone Fax

2 TABLE OF CONTENTS Summary of Findings Kentucky Black-Owned by Kind of Business Kentucky Selected Places With or More Black-Owned Kentucky Selected Counties With or More Black-Owned Kentucky Black-Owned by Metropolitan Statistical Area (MSA) Kentucky Black-Owned by MSA and Industry Compiled by the Office of Research and Information Technology General Research Branch Kentucky Cabinet for Economic Development August 26 2 Old Capitol Annex 3 West Broadway Frankfort, KY Phone Fax

3 SUMMARY OF FINDINGS United States In 22, there were.2 million black-owned firms in the U.S., employing nearly 75 thousand persons and generating nearly $89 billion in business revenues. These black-owned firms accounted for 5.2 percent of all nonfarm businesses in the U.S.,.7 percent of their employment, and. percent of their receipts. The 22 Survey of Business Owners (SBO) defines black-owned businesses as firms in which African Americans own 5 percent or more of the stock or equity of the business. The data in this report were collected as part of the 22 Economic Census from a large sample of all nonfarm businesses filing 22 tax forms as individual proprietorships, partnerships, or any type of corporation, and with receipts of $, or more. Kentucky Kentucky s black population of 3,996 in 2 ranked 25th in the nation according to the U.S. Census Bureau. The U.S. Census Bureau reported 7,592 black-owned firms in Kentucky in 22. Blacks owned 2.5 percent of all firms in Kentucky with sales and receipts of $,6,72,. The net change in the number of black-owned firms was,963 from 997 to 22. Health care and social assistance comprised the highest number of black-owned firms in Kentucky with approximately 2 percent of firms. Following health care and social assistance in order of number of firms was: other services (except public administration); administrative and support and waste management and remediation services; retail trade; professional, scientific, and technical services; arts, entertainment, and recreation; transportation and warehousing; real estate and rental and leasing; accommodation and food services; finance and insurance; educational services; manufacturing; information; management of companies and enterprises; and industries not classified. Kentucky black-owned firms with paid employees accounted for 8.3 percent of the total blackowned firms. These firms employed 7,737 employees, less than one percent of the people employed in Kentucky businesses. The largest number of these people were employed in the accommodation and food services sector - 3 percent of employees in black-owned businesses. The administrative and support and waste management and remediation services sector accounted for 2 percent of employees, followed by health care and social assistance with.8 percent. Following health care and social assistance in order of employment size were: retail trade; transportation and warehousing; professional, scientific, and technical services; other services (except public administration); finance and insurance; and arts, entertainment, and recreation. 3 Old Capitol Annex 3 West Broadway Frankfort, KY Phone Fax

4 Average sales and receipts per firm for all Kentucky black-owned firms was $5,7.83 in 22 compared to $9,2 for all Kentucky firms. Black-owned firms with paid employees averaged $,537,3 in sales and receipts compared to an average of $,,78 for all Kentucky firms with paid employees. For additional information or assistance regarding black-owned businesses in Kentucky, contact: Small Business Services Division Kentucky Cabinet for Economic Development 23rd floor, Capital Plaza Tower 5 Mero Street Frankfort, KY 6 Phone: (8) or (52) Fax: (52) For more national statistics from the U.S. Census Bureau, click on Old Capitol Annex 3 West Broadway Frankfort, KY Phone Fax

5 Kentucky Black-Owned by Kind of Business: 22 All firms with paid employees Industry ( $,) ( $,) Employees Annual Payroll ($,) Total for all sectors 7,592,6, ,866 7,737 78,9 Forestry, fishing & hunting, & 3 S D agricultural support services Mining Utilities S D Construction S S 68 23,7 25 D g D Wholesale Trade S S Retail Trade , ,33 8 7, Transportation & warehousing ,6 32 5,9 95 5,73 Information 7 D S D a D 5 Finance and insurance 5,68 5 2, ,3 Real estate & rental & leasing 279,2 S D a D Professional, scientific, & technical services Management of companies & enterprises Administrative & support & waste management & remediation services 55 2, ,8 3,5 2 D 2 D b D,7 3, ,6 939,732 Educational services 8 D D b D Health care assistance & social Arts, entertainment, recreation Accommodation and services & food,599 69,6 93 5, ,7 33 8, , , ,39 2, 28, Other services (except public 6,353 32,32 8,2 9 2,27 administration) Industries not classified D D a D Source: U.S. Census Bureau, 22 Economic Census, Survey of Business Owners, Company Statistics Series, August, 26. All firms data include both firms with paid employees and firms with no paid employees. D=Withheld to avoid disclosing data for individual companies; data are included in higher level totals; S=Estimates are suppressed when publication standards are not met, such as, the firm count is less than 3, or the relative standard error of the sales and receipts is 5 percent or more; a= to 9 employees; b=2 to 99 employees; c= to 29 employees; e=25 to 99 employees; f=5 to 999 employees; g=, to 2,99 employees. 5 Old Capitol Annex 3 West Broadway Frankfort, KY Phone Fax

6 Kentucky Selected Places With or More Black-Owned : 22 All with paid employees Geographic Area ($,) ($,) Employees Annual Payroll ($,) Kentucky 7,592,6, ,866 7,737 78,9 Bowling Green 8 76,2 7 7, ,365 Frankfort 2 D S D a D Hopkinsville 6 6,37 Lexington-Fayette,6 9,87 8 7,72 7 3,77 Louisville S S Paducah S S Radcliff 2 5,958 Shively 3,23 Kentucky Selected Counties With or More Black-Owned : 22 All With Paid Employees County ($,) ($,) Employees Annual Payroll ($,) Kentucky 7,592,6, ,866 7,737 78,9 Christian 563 2,333 2, ,66 Fayette,6 9,87 8 7,72 7 3,77 Franklin 2 5,853 Hardin 37 2,35 Jefferson 3,62 588,58 33 D h D Kenton,2 McCracken 2 D S D b D Madison S D S D b D Warren 226 8,68 2 7,97 3 8,637 Source: U.S. Census Bureau, 22 Economic Census, Survey of Business Owners, Company Statistics Series, August, 26. All firms data include both firms with paid employees and firms with no paid employees. D=Withheld to avoid disclosing data for individual companies; data are included in higher level totals; S=Estimates are suppressed when publication standards are not met, such as, the firm count is less than 3, or the relative standard error of the sales and receipts is 5 percent or more; a= to 9 employees; b=2 to 99 employees; c= to 29 employees; e=25 to 99 employees; f=5 to 999 employees; g=, to 2,99 employees; h=2,5 to,999 employees. 6 Old Capitol Annex 3 West Broadway Frankfort, KY Phone Fax

7 Kentucky Black-Owned By Metropolitan Statistical Area (MSA): 22 All With Paid Employees MSA ($,) ($,) Employees Annual Payroll ($,) Bowling Green, KY MSA 273 8,75 2 7,97 3 8,637 Cincinnati-Middletown, OH- KY-IN MSA 6,9 3, ,29 5,993 98,32 Clarksville, TN MSA,55 36, ,3 38 8, Elizabethtown, KY MSA 33 2,5 Evansville, IN-KY MSA 5 22,75 5 8, ,93 Huntington-Ashland, WV-KY-OH MSA 27 6,9 S D c D Lexington-Fayette, KY MSA,29 33, ,8 89 8,798 Louisville, KY-IN MSA 3, , ,88,28 88,876 All firms data include both firms with paid employees and firms with no paid employees. S=Estimates are suppressed when publication standards are not met, such as, the firm count is less than 3, or the relative standard error of the sales and receipts is 5 percent or more; D=Withheld to avoid disclosing data for individual companies; c= to 29 employees. Kentucky Black-Owned By Metropolitan Statistical Area (MSA) and Industry: 22 Bowling Green, KY Metropolitan Statistical Area Construction Retail trade Transportation and w arehousing Finance and insurance5 Administrative and support and w aste management and remediation services Arts, entertainment, and recreation 32 5 Data do not include large certificated passenger carriers that report to the Office of Airline Information, U.S. Dept. of Transportation. Railroad transportation and U.S. Postal Service are out of scope for the 22 EconomicCensus.5 Data do not include funds, trusts, and other financial vehicles, except real estate investment trusts. 7

8 Kentucky Black-Owned By Metropolitan Statistical Area (MSA) and Industry: Cincinnati-Middletown, OH-KY-IN Metropolitan Statistical Area, Utilities Construction Wholesale trade Retail trade Transportation and warehousing Finance and insurance5 Real estate and rental and leasing Professional, scientific, and technical services Management of companies and enterprises Administrative and support and waste management and remediation services Health care and social assistance Arts, entertainment, and recreation Clarksville, TN-KY Metropolitan Statistical Area Construction Retail trade Professional, scientific, and technical services Industries not classified Source: U.S. Census Bureau, 22 Economic Census, Survey of Business Owners, Company Statistics Series, August, 26. Data do not include large certificated passenger carriers that report to the Office of Airline Information, U.S. Dept. of Transportation. Railroad transportation and U.S. Postal Service are out of scope for the 22 EconomicCensus.5 Data do not include funds, trusts, and other financial vehicles, except real estate investment trusts. 8

9 Kentucky Black-Owned By Metropolitan Statistical Area (MSA) and Industry: 22 Elizabethtown, KY Metropolitan Statistical Area Transportation and warehousing Industries not classified Evansville, IN-KY Metropolitan Statistical Area Wholesale trade Professional, scientific, and technical services.2 Huntington-Ashland, WV-KY-OH Metropolitan Statistical Area Wholesale trade Administrative and support and waste management and remediation services Data do not include large certificated passenger carriers that report to the Office of Airline Information, U.S. Dept. of Transportation. Railroad transportation and U.S. Postal Service are out of scope for the 22 Economic Census. 9

10 Kentucky Black-Owned By Metropolitan Statistical Area (MSA) and Industry: 22 2 Lexington-Fayette, KY Metropolitan Statistical Area Construction Retail trade Transportation and w arehousing Information Professional, scientific, and technical services Educational services Louisville, KY-IN Metropolitan Statistical Area Retail trade Transportation and w arehousing Information Real estate and rental and leasing Professional, scientific, and technical services Management of companies and enterprises Administrative and support and w aste management and remediation services Educational services Health care and social assistance Arts, entertainment, and recreation Other services (except public administration)6 =Data do not include large certificated passenger carriers that report to the Office of Airline Information, U.S. Dept. of Transportation. Railroad transportation and U.S. Postal Service are out of scope for the 22 Economic Census.5 Data do not include funds, trusts, and other financial vehicles, except real estate investment trusts. 6=Data do not include religious, grantmaking, civic, professional, and similar organizations (NAICS 83) and private households (NAICS 8).