First-Ever Study Shows Hispanic Economic Impact in Southeast Michigan

Hispanic Contribution Worth At Least $14.5 Billion to Economy

DETROIT, Oct. 23 /PRNewswire/ -- The first-ever study of the
Hispanic/Latino community's economic impact on Southeast Michigan shows that
residents of Hispanic descent contribute at least $14.5 billion to the
regional economy. The study, which also documents a 27.9 percent increase in
the Hispanic population living in the seven-county Southeast Michigan region
since 2000, was released today at the 2008 Hispanic Business Expo & Economic
Summit in Detroit.
Wayne State University (WSU) researchers forecast rapid growth in the
Hispanic community in Southeast Michigan, estimating that Hispanics will make
up a larger portion of the overall population, increasing from 2.4 percent to
7.3 percent between 2005 and 2035. The vast majority of this growth will come
from U.S.-born Hispanics, as opposed to new immigrants, as 78.1 percent of
Southeast Michigan's Hispanics are U.S. Citizens
The Hispanic Business Alliance commissioned Wayne State University to plan
and implement a comprehensive economic impact study of the Hispanic/Latino
presence in Southeast Michigan. The HBA also engaged several community leaders
in this planning process. The WSU Center for Chicano-Boricua Studies
facilitated the planning and implementation of study and the WSU Center for
Urban Studies was responsible for the collection and analysis of data.
The Southeast Michigan Hispanic/Latino Economic Impact Study seeks to
understand and ultimately increase the impact of Hispanics/Latinos on the
economy of Southeast Michigan and Michigan as a whole. To meet that
objective, the group is pursuing a three-tiered study to measure the economic
impact of the Hispanic/Latino community, identify the community's patterns of
investment and increase Hispanic/Latino economic power and political
representation.
Using the Regional Economic Model, the study estimates that the economic
activity of Hispanic residents in the region supports 181,053 total jobs in
Southeast Michigan. "That is relatively high, compared to other communities,"
said Dr. Lyke Thompson, Director of the WSU Center for Urban Studies and lead
researcher on the study. "Essentially, for every 100 Hispanic jobs in the
region, Hispanics help support approximately 95 additional jobs."
"For too long, we had only anecdotal information about the Hispanic
business community's economic force in this market," said Frederick Feliciano,
President of the Hispanic Business Alliance, a 30 year-old organization
committed to bringing together Hispanic entrepreneurs. "Now, we have some hard
evidence that should serve as a point of pride for our community, as well as
encourage the greater business community to recognize the opportunities in
doing business with us."
The study also finds that, though Hispanics represented only 3.5 percent
of the total population in the region in 2006, their economic activity
accounted for 6.5 percent of the total employment, 6.4 percent of the total
earnings and 6.2 percent of the total economic output in Southeast Michigan.
United States Census data has shown a 9 percent growth rate among the
Hispanics/Latinos in the City of Detroit since 2000 and 39 percent in Western
Wayne County in the same time period. Going beyond Census data, which often
undercounts Hispanics/Latinos, was one of the key objectives of this study.
"This report reinforces our philosophy in Wayne County to highlight and
promote our diversity," said Wayne County Executive Robert Ficano. "The
Hispanic community makes up a significant part of our workforce. The study
also shows that jobs within the Hispanic community help create more jobs. This
community, filled with a rich history and culture, will have a great impact on
the economic future of our county."
"Around the country, Detroit is considered an emerging market for Hispanic
business. Now, we have facts to support that reputation," said Feliciano.
For a complete draft of the study, visit www.hbadetroit.org or
www.cus.wayne.edu .
SOURCE Hispanic Business Alliance

Matt Friedman for the Hispanic Business Alliance, +1-248-626-0006,
mfriedman@tannerfriedman.com