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March 20, 2006
The Hispanic Contribution to Central Florida's Growth
The hundreds of thousands of Hispanics who have settled in Central Florida are contributing more to the area than just raw population growth.
The Hispanic population -- growing by four people every hour for the past five years to zoom past the half-million mark in 2005 -- now pumps more than $16 billion into the region.
And Hispanics' economic contribution, by supplying labor, creating businesses and spending money in the communities where they live, is expected to jump beyond $20 billion during the next two years. . . .
Hispanics in Central Florida grew by 49 percent since 2000, adding up to 549,563 by last year. Most Hispanics reside in Orange County, but Lake and Osceola showed the highest pace of growth at more than 70 percent.
Hispanics spent $8.2 billion in Central Florida last year. As of the current year, they have also created about 20,000 businesses that employ close to 200,000 people. Their yearly spending, which multiplies in impact as those dollars filter through other sectors of the economy, is expected to top $10 billion within two years. . . .
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