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Press Room January 2012
While there can be debate about what it means, the unassailable fact is that Latino -owned businesses in the United States are growing at a blistering pace — in fact more than twice the national average. This trend has been sustained for at least the last decade and manifests itself both in the growing number and size of Latino- owned businesses. During the latest 5-year period for which information is available from the census bureau, Latino owned business’ revenue jumped by an astonishing 55% to nearly $350 billion. Some think that the census data underestimates the economic clout of Latino businesses, estimating the sales of such businesses in 2008 at $547 billion. Many are very substantial businesses with numerous employees: the number of Latino- owned businesses with more than $1 million in revenue grew to over 44,000 in 2007, up from just 29,000 five years earlier.