Latin America Business News
Report Finds Arizona’s Hispanic Community Tops $40B in Buying Power, 65k Latino-owned Businesses
Photo: Report Finds Arizona’s Hispanic Community Tops $40B in Buying Power, 65k Latino-owned Businesses
Arizona Hispanic Chamber of Commerce to release 2012 DATOS: Focus on the Hispanic Market at inaugural two-day business symposium, “Transforming Arizona’s Economy”. The May 4-5 conference includes business workshops, a town hall interview with U.S. Senate candidate Richard Carmona, and the AZHCC’s prestigious business awards gala
PHOENIX (April 25, 2012) Booming growth in Arizona’s Latino population is fueling record increases in Latino buying power, small businesses, registered voters, and the community’s overall influence on the state’s economy.
“The fiscal health and expansion of our state and national economy depends more every day on the economic vitality of the Latino community,” said Gonzalo de la Melena. “As our 2012 DATOS report shows, we’re witnessing the unprecedented expansion of Latino purchasing power and its impact on business growth.”
DATOS: Focus on the Hispanic Market is a far-reaching report that details everything from the buying habits of Latino families to the community’s impact on the state’s public schools and university systems, including the findings that Latinos now account for the largest number of high school graduates in the state and a record number of Hispanics are registering to vote.
Annual Hispanic buying power in Arizona has reached an estimated $40 billion and could top $50 billion by 2015, according to the report. Nationwide, the figure is $1.2 trillion. Meanwhile, Latino-owned businesses in Arizona account for at least $9.75 billion in gross receipts and about 11 percent of all businesses statewide.
The 2012 DATOS report is set to be released Friday, May 4 at the 16th Annual DATOS: Focus on the Hispanic Market luncheon from 11:30 a.m. to 1:30 p.m. at the Phoenix Convention Center, 100 N. 3rd St., North Ballroom.
Salt River Project is the presenting sponsor for DATOS, which provides timely and relevant information for Arizona businesses.
“DATOS provides SRP with valuable information about a major portion of our customer base,” said Mark Bonsall, SRP General Manager and Chief Executive Officer. “The Hispanic community is vibrant and growing, and it’s important that we continue to understand more about these customers.”
The DATOS luncheon is part of the Arizona Hispanic Chamber’s inaugural two-day business symposium, “Transforming Arizona’s Economy” at the Phoenix Convention Center. More than 3,000 people are expected to attend the symposium, making it the largest gathering of Latino community and business leaders in the state.
The symposium is presented by the University of Phoenix, and features:
- Free business workshops;
- The release of the Chamber’s 16th annual, DATOS: Focus on the Hispanic Market;
- A community town hall, “Counting Latino Votes”, including an interview with U.S. Senate candidate Richard Carmona; (The town hall is free and open to the public.)
- The 54th Annual Black & White Ball and Business Awards.
“This is an event that the entire Arizona community should attend,” said de la Melena. “Whether we’re talking about the U.S. Senate race or the incredible demographic-economic shift occurring in the state, the first-of-its kind symposium is addressing issues that will impact all Arizonans for decades to come.”
Among the symposium’s highlights is the Chamber’s May 5 business awards ceremony. This year’s theme for the gala is “Arizona Latinos: A Centennial Legacy”.
The winners of the AZHCC 2012 Business Award are: Woman of Year, Bettina Nava, FirstStrategic; Man of the Year, Ernest Calderón, Calderón Law Offices; Entrepreneur of the Year, Luis de la Cruz, Andale Construction; Corporation of the Year, APS (Arizona Public Service); Community Advocate of the Year, Phil Gordon, former Phoenix mayor; and Legacy Award, Eddie Basha. (Full bios of award recipients available upon request.)
“Our state’s economy is on track for a strong recovery, and Arizona’s corporate and political leaders have begun to recognize that sustaining our economy requires a better understanding of the effects of Latino-owned businesses and our population’s growing purchasing power,” said Tony Astorga, chairman of the Arizona Hispanic Chamber of Commerce Board of Directors.
For information about purchasing individual tickets or tables for the DATOS luncheon or Black & White Ball and Business Awards, please contact Norma Macias, (602) 294-6081, or firstname.lastname@example.org.