/ Modified sep 23, 2013 12:23 p.m.

Latinos Strong in Economic Recovery, Report Suggests

Study finds Latino-owned businesses have doubled in number in a decade to 67,500, with more expansion planned.

Arizona's Latino-owned businesses number 67,500, nearly double the number in 2003, says the 2013 edition of DATOS: The State of Arizona's Hispanic Market.

The report, produced for the Arizona Hispanic Chamber of Commerce, will be formally released on Tuesday in Phoenix.

The Hispanic Business Enterprises study, a detailed survey of the state's Hispanic-owned enterprises, said many plan to expand even more in the upcoming years.

"What we know about Hispanic business owners, despite the tremendous hit they took in the recession, is that they're incredibly optimistic about the role they will play in Arizona's economic future," said Gonzalo A. de la Melena Jr., president and CEO of the Hispanic chamber.

" ... how well Hispanic-owned and other minority-owned businesses perform in the ongoing economic recovery is vital to the state's future," Melena said.

DATOS also found that more than one-third of business owners are immigrants, and the state's Hispanic consumers purchase more than $43 billion a year in goods and services.

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