Opportunity/Business

EXCELLENCE & DEDICATION: Dr. Francisco Delgadillo was selected as one of the inaugural recipients of the Jerry S. Rawls Excellence in Undergraduate Teaching Award. Thanks to my students and ex-students, especially alumni and students who nominated and recommended me! Congratulations from Latino Lubbock Magazine!

Homeownership

Latinos Showing Record Growth, Driving For Next Few Decades

After losing 66 percent of their household wealth during the Great Recession, Latino homeowners are now showing record growth. Latinos have increased their homeownership rate for six consecutive years, according to a 2020 report from the National Association of Hispanic Real Estate Professionals, a trade group. Latinos are the only demographic in the U.S. to increase their rate of homeownership, which is projected to increase from 49 percent to 51 percent from 2020 to 2040, the nonprofit public policy research organization Urban Institute reported this year. Every other racial group, including white people, is expected to decrease their homeownership rate, it found. “Latinos have an extra proclivity for real estate as a means to build assets,” said Noerena Limón, executive vice president of public policy at the National Association of Hispanic Real Estate Professionals, or NAHREP. “Given that homeownership makes up such a big percentage of wealth, Latinos are going to be integral in driving homeownership growth for the next few decades.” The boom in Latino homeownership is helping to drive the growth of the overall economy. The National Association of Home Builders estimates that housing makes up 15 to 18 percent of U.S. gross domestic product. In 2019, Latinos contributed $423 billion in GDP through the housing market alone, according to NAHREP. U.S. Latinos’ total GDP amounted to $2.7 trillion in 2019, which is larger than the GDP of countries such as Italy, Brazil and

Canada, according to a report released Wednesday by the nonprofit data research organization Latino Donor Collaborative. Limón said there is going to be "a seismic increase in wealth because Latinos play such a big role in driving wealth, given home price appreciation in the last year and how people build equity in their homes.” Home prices nationwide have surged during the pandemic, with the average price now up by a record 19.7 percent in July compared to the same period last year, according to the latest data from the S&P CoreLogic CaseShiller U.S. National Home Price NSA Index. U.S. Latinos are much younger than other racial demographics, which means there is a larger segment of people in their prime homebuying years, said Jun Zhu, a visiting assistant professor in the finance department at Indiana University–Bloomington and a nonresident fellow with the Urban Institute. Nearly 1 in 3 Latinos is 25 to 44 years old, the age at which people traditionally buy a home, according to the U.S. Census Bureau. They also are buying homes at rates similar to past generations, Zhu said.

IRS Issues Warning as Child Tax Credit Payments Go Out

The IRS is half way through distributing Child Tax Credit Payments this year. The third batch of payments went out of September 15. The next Child Tax Credit Payments is scheduled to go out October 15. With the 4th payment coming, the IRS is reminding the public to be on the look out for criminals. If you wish to stop getting the Child Tax Credit Payments, the next opt-out deadline is October 4. Visit www.irs.gov/credits-deductions/ child-tax-credit-update-portal (En español, p. 14)

Professional Development

FREE GED TEST PREPARATION

CLASSES. Need to study to pass the GED? Literacy Lubbock offers free, flexible, and casual prep classes at various times to fit in with your busy schedule. Call us at 806-7753636 for more information or register for Free classes at www.literacylubbock.org.

FREE GED AND ESL CLASSES

for Lubbock and the surrounding area offered by Adult Education Center. We accept new students on a bimonthly basis. You must be at least 17 years old and not enrolled in public school to be eligible for the classes. For more info call 806-2815750. Open Mon. thru Fri. from 8 A.M. to 5 P.M. BASIC ENGLISH CLASS – Clase de Inglés – aprender Inglés básico, 3211 58th Street, (east of Indiana) Lubbock. Horas: Cada Miércoles a las 7:30-8:30 de la noche. 806-239-5352 GRATIS!!

CHILD CARE AVAILABLE FOR INCOME-ELIGIBLE FAMILIES

Families who are income eligible may receive fee assistance to attend one of the Early Learning Center’s five centers for child care. Parents or caretakers must be employed or in school. The program is open from 6:30 a.m. to 6 p.m. Monday through Friday. Call (806) 765-9981 for more information.

CLASES DE INGLÉS COMO SE-

GUNDA IDIOMA La Literacia de Lubbock (Literacy Lubbock) ofrecen clases gratis de inglés como segundo idioma (English as Second Language) para la comunidad. Todos los adultos están bienvenido en estas clases. Para más información, llame a (806) 775-3636.

FREE CRIMINAL DEFENSE

ATTORNEY: The Caprock Regional Public Defender Office offers free legal representation to 13 surrounding West Texas Counties. The office handles Felony, Misdemeanor and Juvenile cases for citizens that cannot afford to hire a criminal defense lawyer. Call (806) 742-4312 to see if your county qualifies for this service. IMMIGRATION SERVICES If you need help with immigration issues call 806-741-0409.

SERVICIOS DE INMIGRACIÓN

Si necesitan ayuda con asuntos de inmigración llame a este numero (806) 7410409.

REFERRAL FOR QUALITY

CHILD CARE in Lubbock by the South Plains Day Home Association helps parents with free referrals to licensed or registered day care facilities that are routinely monitored by the Texas Department and Protective Services. Call 796-0606 or 792-1847 for more information.

Business & Opportunity Updates

TAX FORMS AT LIBRARIES they have forms 1040 and 1040-SR in English and Spanish available at all locations. Instruction books are available in English only at the moment. You can also access all available forms and instructions from home at www.irs.

gov. BUSINESS COUNSELING Small business owners and aspiring entrepreneurs can discuss their business ventures and get expert advice from the SBDC staff. All information will be held in strict confidence. For a counseling sessions call (806) 7451637.

FREE PRACTICE

EXAMS Study guides for tests Learn-aTest, a database of practice examinations, is available at the Lubbock Public Library, 1306 9th St. Hundreds of practice examinations, including SAT, ACT and elementary, middle school and high school skills improvement tests, plus graduate entrance exams, available.

LOW INCOME TAXPAYER CLIN-

IC The TTU School of Law operates a “FREE” Low Income Taxpayer Clinic year around to provide assistance relating to issues involving controversies with the Internal Revenue Service (IRS). For more info call (806) 834-7972 or toll free (800) 420-8037. IMMIGRATION SERVICES If you need help with immigration issues call 806741-0409.

SERVICIOS DE INMIGRACIÓN

Si necesitan ayuda con asuntos de inmigración llame a este numero (806) 7410409.

DO YOU HAVE NEWS? Submit your business news online at www.latinolubbock.net/ have-a-story or call (806)792-1212

Small Business

Optimism Hits Record High

Business owners are feeling optimistic about the nearterm future of their businesses amid increasing vaccination rates, and those who report that more than three-quarters of their workforce has been vaccinated are the most positive about their business outlook. This includes expectations for higher demand, sales and profits than companies reporting a lower rate of employee vaccination, according to PNC's semi-annual national small business survey, which concluded Aug. 31. Data gathered during PNC's survey demonstrates that vaccines are top-of-mind for business owners. Eight in 10 (79%) businesses said they have taken action to encourage employee vaccination. Nearly half (48%) are requiring employee vaccinations, 44% are providing assistance related to vaccinations, 26% are incentivizing employees to receive vaccinations, and one in four (24%) have added restrictions for employees who choose not to be vaccinated. Those efforts may well be making an impact: more than three-quarters (78%) of survey respondents estimate that a majority of their employees have been vaccinated and 43% believe their entire workforce is vaccinated. More than half (53%) of business leaders with fewer than 100 fulltime employees have required their employees to receive the vaccine, more than double that of businesses with 100 or more full-time employees (26%). "The survey results demonstrate that most business owners believe the vaccine can have a positive impact on their businesses," PNC Chief Economist Gus Faucher said. "Further, business owner optimism rises as vaccination rates increase, indicating that efforts to support vaccinations broadly could strengthen the economic recovery."

Optimismo de pequeñas empresas alcanza récord máximo

Los propietarios de empresas se sienten optimistas sobre el futuro a corto plazo de sus negocios ante el aumento en la incidencia de vacunación, y aquellos que reportan que más de tres cuartas partes de su fuerza laboral ha sido vacunada son los más positivos sobre su perspectiva de negocios. Esto incluye expectativas de mayor demanda, ventas y ganancias en comparación con las empresas que reportan una incidencia más baja de vacunación entre sus empleados, según la encuesta semestral nacional de pequeñas empresas de PNC que concluyó el 31 de agosto. Los datos recopilados durante la encuesta de PNC demuestran que las vacunas tienen alta prioridad para los propietarios de empresas. Ocho de cada 10 (79%) empresas dijeron haber tomado medidas para fomentar la vacunación de sus empleados. Casi la mitad (48%) está requiriendo la vacunación a sus empleados, el 44% ofrece asistencia relacionada con la vacunación, el 26% incentiva a empleados a recibir la vacuna y uno de cada cuatro (24%) ha implementado restricciones a empleados que eligen no vacunarse. Esos esfuerzos pueden estar generando un impacto: más de tres cuartas partes (78%) de los encuestados estiman que la mayoría de sus empleados están vacunados y el 43% cree que toda su fuerza laboral está vacunada. Más de la mitad (53%) de los líderes empresariales con menos de 100 empleados a tiempo completo han requerido que sus empleados reciban la vacuna, más del doble que en las empresas con 100 o más empleados a tiempo completo (26%). "Los resultados de la encuesta demuestran que la mayoría de los empresarios creen que la vacuna puede tener un impacto positivo en sus negocios", señaló Gus Faucher, economista principal de PNC. "Además, el optimismo de los empresarios aumenta a medida que se incrementan las tasas de vacunación, lo que indica que los esfuerzos para apoyar las vacunas en general podrían fortalecer la recuperación económica".

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