Prospera Announces Results of 30-Year Economic Impact Report

Nonprofit organization commissions professional analysis for 30th anniversary

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Sep 30, 2021, 07:30 ET

ORLANDO, Fla., Sept. 30, 2021 /PRNewswire/ -- Economic development, nonprofit organization Prospera has published the results of a 30-year economic impact analysis. To commemorate its anniversary and more accurately and objectively measure the overall impact of its programs and services in Florida and North Carolina, Prospera hired economic development and research consulting firm AngelouEconomics to perform a second analysis after its 25-year report. The results, which showed significant increases in the last five years, were captured in a comprehensive report that can be read at prosperausa.org and an animated video with highlights from the report.

"Our year-round, top priorities include ensuring our transparency, efficiency and stewardship to our funders and stakeholders. We observed overall exponential growth in the organization's output and impact from the 25 to the 30-year studies," said Prospera President & CEO Augusto Sanabria. "In terms of access to capital, we increased from nearly $95 million by 2016 to $148 million in loans marketed for small businesses. Our total economic impact increased from $1.5 billion in our first 25 years, to $4.9 billion in 30 years. And for every dollar invested in Prospera, our ROI increased from $70 to $184 in economic impact."

The economic impacts detailed in the report are generated from the Implan input/output software, an industry standard for economic modeling. The results are directly attributed to Prospera and comprise the direct spending through two expenditure activities. The impacts are derived from indirect and induced effects, which are generated through multiplier spending effects that occur due to Prospera's direct impacts. "Methods employed for the 30-year impact were decidedly conservative, used as a means of not double counting job growth and the total number of unique clients interacted with over a given period of time," stated AngelouEconomics in the report.

The total impact of Prospera in Florida and North Carolina during the last 30 years includes:

$4.9 billion in total economic output
$1.6 billion in labor income
47,709 jobs created or sustained by Prospera
$116 million in state and local tax revenues

Prospera is an economic development, nonprofit organization that since 1991 has specialized in providing bilingual assistance to Hispanic entrepreneurs who want to establish, sustain, or grow their businesses. In the last five years, Prospera has facilitated over $60 million in loans, trained over 20,000 entrepreneurs, and helped consulting clients create or retain over 16,000 jobs. Prospera currently offers services in Florida and North Carolina. For more information, visit www.prosperausa.org.

Media Contact: Maria Yabrudy, 407-412-3303, [email protected]

SOURCE Prospera