As the country tries works to pull itself from a recession, a study released today found that more private investment in minority–owned firms will help the long-term economic health of the country.

The research found that firms that received private equity investment were able to hire more people, had higher rates of revenue growth, paid higher wages and were more likely to be able to provide employees with health insurance.

The study, which looked at the impact of private investments on seven minority firms, was released by the National Association of Investment Companies in conjunction with Boston Consulting Group.

The financial health of minority-owned businesses and those that cater to minorities only becomes more crucial as the population becomes more diverse, the study concluded.