No. of AZ Hispanic-Owned Businesses Double in 8 years, Hispanic Women-Owned Companies Triple

(Phoenix, Ariz.)  —  The Arizona Hispanic Chamber of Commerce released the findings of its 19th annual DATOS: The State of Arizona’s Hispanic Market report at its annual breakfast conference Wednesday at the Arizona Biltmore Resort.

Arizona State University President Michael Crow was the keynote speaker. ASU Professor Emeritus Dr. Loui Olivas delivered highlights from this year’s DATOS report.

“This year’s DATOS report reinforces the growing awareness that Arizona’s future is inextricably linked to the potential and economic prosperity of its exploding Hispanic population,” said Gonzalo A. de la Melena, Jr., President and CEO of the Arizona Hispanic Chamber of Commerce.

DATOS is the state’s most comprehensive compilation of research about the Hispanic market in Arizona and the most detailed report of its kind in the nation.

Among the reports 2015 highlights:

• Hispanic purchasing power nationwide is an estimated $1.5 trillion in 2015, roughly equivalent to the GDP of Australia. Hispanic purchasing power in Arizona is an estimated $40.3 billion in 2015.

• There are more than 55 million Hispanics in the United States, 17 percent of the country’s population. There are nearly 2.1 million Hispanics in Arizona, 30.3 percent of the total population.

• The number of Hispanic owned businesses in Arizona now exceeds 123,000, while the businesses owned by Hispanic women, more than 66,000 are now the majority of all Hispanic-owned companies in the state.

A full list of highlights is listed below. News media outlets can review the full DATOS 2015 report at http://bit.ly/1KQjnUw

“As the fastest growing population in Arizona, Latinos will be critical to the future economic success of the state,” said ASU President Michael Crow. “But the economy has changed in relation to the labor force it needs and the nation is falling alarmingly behind in educating the future workforce, and that is particularly true for Arizona’s Latinos.”

In Arizona, Latinos make up 44 percent of K-12 students, Crow added. An estimated 68 percent of all jobs in Arizona will require post-secondary education by 2020. Yet, Latinos have the highest high school dropout rates of all groups and are second to last in achieving post-secondary education.

“If we can solve the Latino educational attainment gap,” Crow said, “we can solve Arizona’s economic trajectory challenge.”

Remy Arteaga, executive director of Stanford Latino Entrepreneurship Initiative, delivered a presentation on the future of Latino entrepreneurship in Arizona and nationwide. Arteaga is also the co-author of “Pivot”, a book on entrepreneurship and innovation.

In addition today’s DATOS event in Phoenix, the Chamber will present Hispanic market data about Southern Arizona at its annual DATOS Tucson conference, October 6, 9:30 to10:30 a.m., at the El Conquistador Hotel in Tucson.

For information about DATOS TUCSON, visit www.azhcc.com or contact Angela Serda at602-294-6085 or angelas@azhcc.com.