TUCSON, AZ -- U.S. Census figures show Arizona's Latino population is booming, and a new report finds that trend is fueling historic growth in Latino buying power statewide. The state's two largest Hispanic chambers of commerce hosted the DATOS Tucson 2011 luncheon, June 10 at the Doubletree Hotel Tucson. The event, sponsored by Blue Cross Blue Shield of Arizona, outlined the economic impact of the Hispanic market in Southern Arizona. "U.S. Census reports show the Latino population jumped a whopping 46 percent in Arizona in the past decade, meaning we're a growing, economic powerhouse," said Gonzalo de la Melena, President/CEO of the Arizona Hispanic Chamber of Commerce. "The Tucson luncheon is our way of stepping back and marking some milestones in the economic development of the state's Hispanic community." The June 10 luncheon was co-hosted by the Tucson Hispanic Chamber of Commerce and the Arizona Hispanic Chamber of Commerce. About 200 business and community leaders are expected to register for the event. "We're pleased to collaborate with the AZHCC on the DATOS Tucson luncheon to raise awareness about the economic impact of the Hispanic community in Southern Arizona, " said Lea Marquez Peterson, President and CEO of the 750-member Tucson Hispanic Chamber of Commerce. "This annual event provides vital information about Tucson Hispanics, who now comprise 42 percent of the city's residents. The luncheon is a great opportunity for area businesses interested in focusing on the fastest growing segment of our community." The AZHCC publishes the annual DATOS: Focus on the Hispanic Market, researched and written by Arizona State University Professor Emeritus Loui Olivas and a team of graduate students, will serve as the basis for the June 10 presentation in Tucson. DATOS is published by the Arizona Hispanic Chamber of Commerce. It provides detailed information on trends in technology, employment, housing, education, small business activity and more. DATOS Tucson's premier sponsor is Blue Cross Blue Shield, with additional support provided by Univision, Allstate Insurance, Fry's Food Stores, Cox Communications, Verizon Wireless and the Morrison Institute at Arizona State University. Arizona's 1.9 million Hispanics now account for nearly 30 percent of the state's population. Overall, the Hispanic population grew by about 600,000 people, 46.3 percent, since 2000. Hispanics account for about 30 percent of the purchasing power in Pima County. The annual buying power of Arizona's nearly 2 million Hispanics is more than $35 billion and climbing, according to DATOS: Focus on the Hispanic Market. Experts say Hispanic buying power nationwide is expected to grow by 50 percent in the next five years to $1.5 trillion. “We always look forward to sharing this event with the Arizona Hispanic Chamber of Commerce and the Tucson Hispanic Chamber of Commerce,” said Deanna Salazar, senior vice president and general counsel, Blue Cross Blue Shield of Arizona. “DATOS Tucson is significant, as it showcases Arizona’s growing Hispanic community.” Quick Facts:
Source: DATOS Tucson report by Dr. Loui Olivas, Professor Emeritus, WP Carey School of Business at ASU Tempe. About Dr. Loui Olivas
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El Informe Newletter - Sept 2011 Edition |