Hispanic Businesses in Baltimore - A Fact Sheet

June 16, 12:20 AMBaltimore Hispanic Business ExaminerElianne Ramos

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FACTS ABOUT HISPANIC BUSINESSES IN BALTIMORE

• Hispanics are the second largest minority in Maryland, with an estimated population of close to 300,000 representing over 6.3% of the population, and these numbers are expected to have a least doubled by the 2010 Census.

• The State of Maryland gained more than 104,000 Hispanics throughout the 1990's according to the latest census data. These numbers are expected to at least double by next year's Census.

• The number of prosperous Hispanic households-those with incomes of at least $100,000-rose 137 percent between 1990 and 2000. Hispanics living in the Washington, DC metropolitan area represent the wealthiest of all regional groups. (Source: U.S. Census Bureau)

• The over 400,000 Hispanic consumers in the Washington metropolitan area are considered the most affluent Hispanics in the country (Source: Latin Quarter News)
 

• There were 1.6 million Hispanic-owned businesses in 2002, up 31 percent from 1997. Their receipts were $226.5 billion, up 22 percent from 1997.

• Hispanic owned firms in the United States are expected to grow 55% to 3.2 million by the year 2010. (Source: HispanTelligence)

• Maryland had 11,158 Hispanic businesses in 1997, with an expected increase to over 20,000 by the year 2010 (Source: HispanTelligence)

• A total of 199,725 Hispanic-owned businesses had paid employees and their receipts totaled $184 billion, or about $921,090 per firm.

 • Hispanic-owned businesses with no paid employees numbered 1.4 million, up 39 percent from 1997. They had receipts of $42.5 billion, up 54 percent from 1997. Average receipts of these businesses were $30,925 per firm.

• About 40 percent of Hispanic-owned firms were in administrative and support and waste management; health care; and other service industries. Another 13 percent were in construction.

• The distribution of Hispanic-Owned firms in Maryland by industry category indicates that the services industry dominates (49.6%), followed by construction (14.8%) and retail trade (5.4%).

[SOURCE: MARYLAND HISPANIC CHAMBER OF COMMERCE]

 All pictures and text © 2009 Elianne Ramos. All Rights Reserved.