U.S. Census figures released Tuesday show that the number of Hispanic-owned businesses in D.C., Maryland and Virginia increased to more than 57,700 firms from 2002 to 2007. That’s a growth rate of 58 percent, compared with a growth rate of 44 percent for Hispanic-owned businesses nationwide.
Maryland had the highest growth in firms and (logically) the biggest rate of revenue increase generated by Hispanic-owned firms. The number of firms grew by 68 percent to nearly 26,000. The firms reported more than $4.3 million in revenue in 2007, an increase of 83 percent over total 2002 revenue.
Virginia registered more than 28,500 firms in 2007, an increase of 50.5 percent from five years earlier. Those firms in 2007 totaled $5.9 million in revenue, an increase of 71 percent from 2002.
Firms in D.C. numbered more than 3,400 in 2007, an increase of 58 percent from 2002. In 2007 those firms totaled $975,000 in revenue, an increase of 78 percent five years earlier.
