AZ Business Magazine March/April 2013

Economy has a Latin flavor

Michael GossieThere is no denying the strong Hispanic influence on the Valley. From the food we eat to the bilingual billboards on our highways, the impact is undeniable. But where the impact is growing in importance is on the economy of Arizona. Consider these facts from the Arizona Hispanic Chamber of Commerce’s 2012 DATOS report:

  • Arizona has the fifth-largest percentage of Hispanic-owned businesses in the United States, with 10.7 percent of the state’s businesses led by Hispanic owners.
  • By 2015, Arizona’s Hispanic purchasing power will grow to $50 billion, up from $40 billion in 2012.
  • From the fall of 1998 to the fall of 2012, Hispanic students accounted for 87 percent of Arizona’s total student enrollment increases. In 2012, Hispanic student enrollment will surpass white, non-Hispanic students.

The impact is here and the impact is growing. Some of Arizona’s greatest companies — Bank of America (Benito Almanza), Ryley Carlock & Applewhite (Rodolfo Parga, Jr.), D.P. Electric (Dan Puente), Fortis Networks, Inc. (Clarence McCallister) — are run by Hispanic leaders.

In this issue of Az Business magazine, we take a look at some of the state’s amazing business leaders, who also happen to be of Hispanic descent.

These men and women bring a spirit and energy to Arizona business that defines the United States of America. Enjoy “The 20 Most Influential Hispanic Business Leaders in Arizona.” It showcases the evolving face of Arizona business.

Michael Gossie Signature

Michael Gossie, Managing Editor

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