USHBC support for the Diversity, Equity, and Inclusion (DEI) initiatives in Utah
Dear Legislative Interim Study Team,
I want to express my steadfast support for the Diversity, Equity, and Inclusion (DEI) initiatives in Utah. I send this letter in my capacity as President & CEO of the United States Hispanic Business Council (USHBC), the leading advocate for the nation’s 4.5 million Hispanic-owned businesses that collectively contribute over $800 billion to our American economy every year. I am also writing as someone who deeply admires the values, ideology, thought-leadership and entrepreneurial spirit of the Beehive State.
To be clear, we are a business organization. We do not believe in diversity for diversity’s sake, rather, we see it as a competitive advantage. An advantage that is critical in a highly connected and competitive global economy. In my role, I have seen first-hand that diversity and inclusion are good for business.
Utah is no stranger to diversity - the Hispanic community specifically has been a vital contributor to the cultural and economic development of the state since the 1800’s. Today, they make up about 15% of the population in Utah and are expected to grow by 39% in the next ten years - three times the rate of non-Hispanic whites. Additionally, Hispanics contribute over two billion dollars to the state annually and are the largest minority voting segment. Yet, only 17% have a higher-education degree. It is imperative that higher education institutions have the resources to harness the potential of this community and others like it in order to bolster their contributions.
DEI initiatives play an instrumental role in creating a climate where every individual, regardless of their background, has the opportunity to contribute. Since the creation of such programs in the 1970’s, diverse enrollment in universities has skyrocketed by nearly 30% in some communities. Those same communities have seen a concurrent rise in wages, purchasing power and home ownership. By protecting DEI programs and diversifying staff, universities can boost enrollment, create an environment that yields higher graduation rates and address education gaps in certain populations. In turn, the contributions of those populations are maximized.
At the USHBC, we have been impressed with Weber State University’s efforts to expand opportunities for Hispanic students. In particular, their goal to become an emerging Hispanic Serving Institution to address the population trends and provide for workforce demand is a model that will yield remarkable results for individuals, employers and the state’s economy.
I urge the State of Utah to continue its commitment to DEI initiatives. By investing in these programs and protecting every Utahn’s access to higher education, the state can ensure that all students are provided with the tools and opportunities they need to help fuel economic growth.
Through DEI initiatives, Utah can demonstrate its dedication to fostering an inclusive and thriving economy through diversity and education. I look forward to witnessing the positive impact of these initiatives and the transformative effect they will have on the state’s economy. Thank you for your time and consideration. I am confident that Utah will continue to lead the way in utilizing diversity as a means of sustaining the #1 economy in the nation.
Sincerely,
Javier Palomarez
President & CEO
United States Hispanic Business Council
(202) 787-8369 | javier@ushbc.com
