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DATOS report shows Hispanics may key Arizona’s economic prosperity
The Arizona Hispanic Chamber of Commerce (AZHCC) today released its 2019 DATOS: The State Of Arizona’s Hispanic Market report. The annual DATOS report describes the Hispanic community’s continued growth and economic impact not only in Arizona, but across the nation.
Governor Ducey has focused setting an environment that enables Arizona business owners and employees to thrive while welcoming innovation. Since 2015, Arizona has cut or simplified taxes every year. Throughout 2017 and 2018, Arizona eliminated a total of 1,098 regulations— saving job creators and taxpayers more than $79 million.
Currently, Arizonans of Hispanic heritage make up nearly one-third of the state’s population, and their impact on the Arizona’s businesses and economic prosperity is significant.
According to the AZHCC DATOS report:
• Arizona’s Hispanic population grew 42 percent from 2000 to 2017
• 51 percent of Hispanic people in Arizona are homeowners
• Hispanic buying power in Arizona will surpass $57 billion by 2022
The significant economic contribution of Hispanics goes beyond just Arizona. Of the 33 million total U.S. businesses, Hispanic-owned companies represent 14 percent— or 4.65 million— of them, according to the U.S. Hispanic Chamber of Commerce. Additionally, the Hispanic unemployment rate throughout the U.S. dropped by 7 percentage points between 2009 and 2018, according to the DATOS report.
Governor Ducey earlier this week proclaimed September 15 through October 15, 2019 as Hispanic Heritage Month in Arizona to celebrate the Hispanic culture and recognize its vital role in the state’s economy.
To view the AZHCC 2019 DATOS report, click HERE.