New York Hispanic-owned firms grow swiftly – report

NEW YORK, April 1 (Reuters) – Over a decade, the number of
Hispanic-owned companies in New York state rose 85 percent to
a total of 193,200, while their sales climbed 77 percent to
$18.2 billion, the state comptroller said on Friday.

“The Hispanic business community is a force to be reckoned
with and an important source of new jobs, particularly in New
York City,” Comptroller Thomas DiNapoli said in a statement.

The report by the Democratic comptroller analyzed data for
the 10-year period ending in 2007, which was the most recent
information available.

With the national population of Hispanics brushing the 50
million mark, companies and politicians are increasingly
targeting this fast-growing and influential group.

New York City, an historic magnet for immigrants, had 74
percent of the state’s Hispanic-owned businesses, with a total
of 143,000. Mayor Michael Bloomberg has repeatedly cited the
contributions immigrants make to society, saying the vast
majority are hard-working taxpayers.

Almost 43 percent of the Hispanic-owned enterprises around
the state were in just four segments of the services sector:
professional, personal, health and social services, the report
said. For 91 percent of the businesses, the owners were the
only workers.
(Reporting by Joan Gralla; Editing by Jan Paschal)

New York Hispanic-owned firms grow swiftly – report