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Latino Businesses See Strong Growth In Central Texas

Latino Businesses See Strong Growth In Central Texas

Posted by Juan Gavasa on December 04, 2014

The region around Austin, in central Texas is on its way to having over 51,000 Hispanic-owned businesses by the year 2020, according to a recently released report. According to the Greater Austin Hispanic Chamber of Commerce (GAHCC) study, over 48,000 people were employed in 2013 by Hispanic-owned businesses in the area, and those numbers will grow to over 127,000 in 2020.

Latino businesses are small in size, employing about 4 people per business. A little under half (47 percent) generated between $100,000 and $499,000, and about 42 percent make $100,000 or less. Yet the report shows a strong growth trend - the $4.8 billion in revenues for the year 2013 was a 90 percent increase over 2007.

"We believe small business is big business, and the strength of our economy in Central Texas will be directly related to the success of our Hispanic-owned businesses," said Mark Madrid, President and CEO of the GAHCC, in a statement.

The top areas with Latino-owned businesses include waste management and remediation, technical, professional and scientific services, construction, retail, transportation and warehousing and health services.

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