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Celebrate Hispanic Heritage

This is a time to recognize the contributions of Hispanic Americans to the United States and to celebrate Hispanic heritage and culture.

San Antonio's Top 10 Hispanic-Owned Businesses

The Top 10 San Antonio companies in the 2011 Hispanic Business 500 Ranking produced revenues of $1.23 billion and employed 2,878 people in 2010.

• Genesis Networks Enterprises LLC $485.21 million
• Ancira Enterprises Inc. $462.84 million
• The Alamo Travel Group $128.87 million
• InGenesis Inc. $51.09 million
• P3S Corporation $25.00 million
• Maldonado Nursery & Landscaping Inc. $21.00 million
• Davila Pharmacy Inc. $18.75 million
• Garcia Foods Inc. $15.00 million
• Kell Munoz Architects Inc. $12.50 million
• Cacheaux, Cavazos & Newton LLP $9.55 million

Business

Why U.S. Born Hispanics
have greater impact on the economy
 

By Juan Silvera

Editor HispanicsSMB.com

We all know the numbers: according to the Census Bureau, by 2025 the Latino population will grow from 35 million to 61 million. And while nobody will argue that this population explosion will be a major driver for the economy, current data indicates that it will be U.S. born Hispanics, and not Latino immigrants, who will deliver the greatest impact to economic growth.

Any analysis of any group’s total contribution to a country’s economy must take into account three factors:  its’ education levels (as an indicator of income earnings potential), its current socio-economic standing (as an indicator of consumption potential) and its age (as an indicator of expected productive years). 

In the area of education, census data reveals that the high school dropout rate among all young Hispanics ages 16-24 is 17 percent. By contrast, it is 8.5 percent for Hispanics born in the U.S.  Knowing the causal relationship between education and income, it is easy to see the much greater earnings potential of U.S. born Hispanics.

However, we don’t have to look too far into the future to see the difference in socio-economic standing, and subsequent consumption power, between these two groups.  Take poverty level for instance. According to a recent Pew study, approximately 29 percent of young immigrant Hispanics live below the poverty line. This same number is a much smaller 19 percent amongst second-generation Hispanics.
Lastly, a basic economics tenet holds that a younger population means greater production and income generation potential. Assuming that this is true, it would appear that U.S. born Hispanics will make a much greater contribution to the economy in the mid and long term.  Today, the average age of Hispanic immigrants is 36 versus 19 amongst second generation Hispanics.

Put together, all this data makes it clear that while the contributions of Latino immigrants to the economy is indeed tangible, it is those that are born here that will have the greatest impact on the economic future of the nation.

City Ranks High Nationally

El Paso, San Antonio, Houston

lead U.S. in Hispanic-owned businesses

 

By David Hendricks

San Antonio Express-News

The U.S. Census Bureau has identified the top five U.S. cities and counties in percentages of Hispanic-owned businesses. No. 1 is El Paso, followed by San Antonio, Houston, Albuquerque, N.M, and Los Angeles, in that order.

El Paso biz.jpg
Photo by
Cosmic Kitty/
Flickr Creative Commons

El Paso leads the nation in percentage of businesses owned by Latinos.

The rankings cover cities with populations of more than 500,000 in 2007. The Census Bureau survey counts Hispanic-owned businesses, sales and receipts, number of paid employees and annual payroll and is held every five years.

The number of U.S. Hispanic-owned businesses increased by 43.7 percent to 2.3 million, more than twice the national rate of 18 percent between 2002 and 2007.

In the country tabulation, Bexar County (San Antonio), with a 37.3 percent of its businesses owned by Hispanics, came in at No. 5, behind Hidalgo County, Texas, El Paso County Texas, Miami-Dade, Fla., and Bronx, N.Y.

“Many of the Hispanic business owners here have been gathering skills to play the game of chess in the business world. Fifteen years ago, they were playing checkers,” said Ramiro Cavazos, president and CEO of the San Antonio Hispanic Chamber of Commerce.

“I believe the data show a direct connection to the training, advocacy, education and access to contracting,” he said.

Texas, with a 20.7 percentage of Hispanic-owned businesses, ranks third, behind New Mexico and Florida but ahead of California and Arizona.

Businesses owned by people of Mexican origin accounted for 45.8 percent of Hispanic-owned businesses in the United States in 2007, the bureau reported.


Cuban-owned businesses were the second largest with 11.1 percent. Puerto-Rican-owned companies accounted for 6.9 percent. Businesses owned by other people of Hispanic origin accounted for 34.5 percent.

Receipts of Hispanic-owned businesses in the United States totaled $274.5 billion, a 52.9 percent increase.

The number of Hispanic-owned business with 100 or more employees increased by 26.4 percent to 1,906 in 2007 from 1,508 in 2002.