PHOENIX — The number of Hispanic-owned business has nearly doubled in just over decade, according the U.S. Hispanic Chamber of Commerce.
It is projected that there will be 3.2 million Hispanic-owned business in America in 2013, up from nearly 1.7 million in 2002.
Here in Arizona there are currently 67,000 Hispanic-owned business.
“The growth is amazing if you think about it,” said James Garcia, spokesman for the Arizona Chamber of Commerce. “We not only had the recession, but we had the deportations and undocumented immigrants who, frankly, were small business owners,” he added.
The surge in Hispanic-owned business is related to the explosive growth of that demographic.