Economic Wellbeing at the IRC in Salt Lake City
Economic Wellbeing means people have their most basic survival needs met and have sustainable income and assets so they can prosper. During and after crises, people may be forced to make short-term decisions to survive that can have long-term negative consequences. The Economic Wellbeing team’s goal is to help these individuals navigate the struggles they face as they adjust to living in the United States. It is our goal to help them create a stable financial foundation for themselves and their families.
What We Do
The Economic Wellbeing team assists refugees and new Americans in adjusting to living in the United States, meeting their most basic financial wellbeing needs and developing the foundational knowledge and skills needed to build assets and start small businesses so they can prosper.
The IRC’s economic empowerment programs support clients in rebuilding their lives in the U.S. For newly arriving refugees, the first step towards a thriving future is achieving financial stability. The IRC supports new arrivals as they find their first job in the U.S. through Early Employment Programs, which blend classroom job-readiness instruction and individualized employment case management in helping over 75 percent of enrolled cases successfully find employment within 6 months of arrival to the U.S. While clients are looking for a job, they simultaneously learn about the complex U.S. financial services system, receive help in establishing bank accounts, and can access consumer advocacy and financial coaching support from IRC Financial Counselors.
Shortly after families achieve financial stability, they often return to the IRC and seek assistance in enhancing their income and building assets. Our Career Development programs support clients’ transition from low-wage, low-skill jobs into higher-paying, higher skilled careers. For clients that wish to pursue entrepreneurship, the IRC hosts Microenterprise Programs that offer intensive individual business technical assistance and access to low-interest loan products. To complement these asset building efforts, IRC offices also offer free income tax preparation for low-income families, as well as access to matched-saving accounts to help families purchase key assets like homes.
To further reinforce the effectiveness of the IRC’s Economic Empowerment Programs, we have also established a subsidiary – the IRC’s Center for Economic Opportunity (CEO) – that offers participants access to a range of affordable financial products that can accelerate clients’ upward economic mobility. Recently certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), the Center offers credit-building, auto, and business loans to low-income borrowers.
The IRC-SLC Economic Wellbeing team helps refugees earn more money and do more with it. We offer down payment assistance to refugees for purchasing homes, starting a small business, or obtaining education for career advancement. The IRC helps refugees gain access to credit by providing small credit-building loans, coaching on how to build credit and improve credit scores, and ultimately providing small business loans.
How We Do It
We focus on a variety of Business Models:
Artisan & Craft
Beauty & Alterations
Childcare
Farming
Food
Heating & Cooling
Ride Share
Trucking
We provide these services:
Small Business Setup
Small Business Counseling
Business and Financial Education
Financial Literacy and Coaching
Financial Assistance including Loans & Grants
Market Access
Childcare Business Program
Events in Support of Clients
Some of the events that the Salt Lake City Economic Wellbeing team provides in support of our clients:
Getting Ready for Tax Preparation:
The Volunteer Income Tax Assistance (VITA) program is an IRS and community-sponsored program designed to assist low to moderate income taxpayers with the preparation of their annual tax returns at no cost.
From January 30 to April 17, 2023, taxpayers who earn $60,000 or less can receive tax assistance from knowledgeable VITA staff virtually or in-person at the following six sites: Dallas TX, Denver CO, Elizabeth NJ, New York City NY, Phoenix AZ or Salt Lake City UT. Please visit our Volunteer Income Tax Assistance (VITA) page for more information or to join the waitlist.
Holiday Gift Baskets:
Refugee and new American entrepreneurs working with the International Rescue Committee (IRC) in Salt Lake City’s Small Business Program staff come together during the holiday season to offer gift baskets filled with one-of-a-kind, hand-crafted products that reflect their culture, passion for their craft, and love for their new home in Salt Lake City. Learn more »
Craft Lake City’s New Americans Workshop Series:
New for 2022-23 this workshop series is hosted by the non-profit Craft Lake City in conjunction with the IRC in Salt Lake City and features six refugee/new Americans presenting workshops related to their crafts. The first six workshops feature Embroidered painting, Beeswax lip balm, Beaded earrings, Henna design, Painting and collage, and African roots necklaces. Learn more »
Craft Lake City’s “Local Voices: Together We Welcome” Exhibition:
Craft Lake City and the IRC in Salt Lake City have setup a public art exhibition titled “Local Voices: Together We Welcome.” This new exhibition aims to honor and highlight global cultures that have arrived in Utah and now call the state “home.” It invites the public to learn more about our newest neighbors and listen to their stories. In the case of this exhibition, in-person visitors to the public art will be able to literally listen to those featured tell their stories, thanks to an interactive element. Viewers will be able to scan a QR code and hear audio of the featured person telling their story, working or playing instruments. All Local Voices installations are displayed in fourteen metal frames adjacent to the sidewalks in downtown Salt Lake City. They are located on the north and south sides of Broadway (300 South) between 200 West and 200 East.
New American Dream Lab:
The New American Dream Lab is an annual friendly business pitch competition that occurs every Spring. It is open to minority owned businesses looking to start or expand. Participants are eligible for three top prizes, with a grant going to the top three finishers. We do this in partnership with the Salt Lake County Microbusiness Connection Center. Learn more about the Dream Lab in 2019 and the 2022 top prize winner »
Pop-Up Shops:
Local businesses host pop-up events as a great opportunity for refugee and new American-owned small businesses to gain experience, advertise their business, share business cards, sell inventory, and overall boost their customers and sales. One example is Sugar House Coffee which hosts these small businesses the first Thursday of each month.
The Work of the IRC
The International Rescue Committee (IRC) helps people affected by humanitarian crises—including the climate crisis—to survive, recover and rebuild their livges. Founded at the call of Albert Einstein in 1933, the IRC is now at work in over 40 crisis-affected countries as well as communities throughout Europe and the Americas. We deliver lasting impact by providing health care, helping children learn, and empowering individuals and communities to become self-reliant, always seeking to address the inequalities facing women and girls.
