White House officials and local leaders met with Asian New Yorkers on Tuesday in an effort to spur small business opportunities in the Asian American community while also addressing the ongoing issue of anti-Asian violence.
More than 200 people attended the Asian American, Native Hawaiian and Pacific Islander Economic Summit at the CUNY Graduate Center in Midtown for sessions on bidding for government contracts as well as equity in higher education.
The event was organized by the White House Initiative on Asian Americans, Native Hawaiians and Pacific Islanders, which has held a total of four regional summits this year, including one in Philadelphia.
The summit included a number of federal and elected officials, including New York Democrats Rep. Grace Meng and Sen. Kirsten Gillibrand.
The mood of the community is of relative calm, but they are a bit unsure of what’s next.
“Income inequality among Asian Americans is higher than any other ethnic group,” said Gillibrand, who delivered recorded video remarks.
She cited data from the U.S. Small Business Administration, noting that while 10% of small businesses nationwide are owned by members of the AAPI community, only 2.8% of federal contracting dollars went to businesses owned by community members in 2020.
“The gap between the poorest and the richest will only increase if we do not take action to empower communities to build generational wealth in a way that affirms their cultural values and identities,” Gillibrand said.
For many Asian business owners, the COVID-19 pandemic was devastating because the shutdown was compounded by anti-Asian bigotry and a surge in anti-Asian attacks.
The Biden administration, however, pointed to recent successes among Asians and other nonwhite groups as reason for optimism. In 2021, Asian-owned and Hispanic-owned small businesses grew at the fastest rate in over a decade, while Black-owned businesses grew faster than they had in 26 years, according to government data.
“So we know that people are out there, hustling, figuring out how to make their dream happen, and we want to continue to support those businesses,” said Jennifer Kim, an associate administrator with the U.S. Small Business Administration’s Office of Field Operations who spoke at the event.
While much of the conversation focused on business opportunities, some community leaders gathered for a panel discussion on anti-Asian hate.
“The mood of the community is of relative calm,” said panelist Chris Kwok, a committee chair at the Asian American Bar Association, in a text message to Gothamist. “But they are a bit unsure of what’s next.”
Kwok expressed concern that the deteriorating relationship between China and the U.S. – various media outlets have described it as a “downward spiral” or on a “dangerous path” – would only exacerbate anti-Asian hate.
“I think we are in the eye of the storm,” Kwok said.
