Dear Members and Stakeholders,
Last week, the United States Census Bureau released 2020 data demonstrating what we already knew. Latinos/as are growing in population faster than any other group and Latinos/as will drive America's economic future growth.
The latest data released by the U.S. Census Bureau portrays the tremendous growth that the Latino/a population is having. Our community is driving the economic revitalization of our country and we see this growth with great excitement for the opportunities it represents. The U.S. Latino/a population is expanding approximately six times faster than non-Latinos and we have accounted for nearly 80% of all net new businesses created during the last decade.
This is our time to act.
The newest redistricting data should better guide policymakers, business leaders, and civic stakeholders to understand the need to represent the Latino/a community better. We are starting new businesses, creating new jobs, and leading the way as we climb out of the COVID-19 pandemic as a nation. It is very important that the U.S. government and corporations meet this growth with more equitable opportunities to provide parity and close the $1.38 trillion opportunity gap that exists between Latino/a enterprises and what they would generate if they were invested in as compared with the average non-Latino procurement opportunities.
We will continue to work with our corporate partners, our business members, and our chamber network of more than 260 local Hispanic Chambers of Commerce around the country to ensure that no Latino/a enterprise is left behind as we move forward, at full speed, to be the main economic force in America.
Important Latino/a Demographic Shift Data:
- Latinos/as make up nearly one of every five of our nation’s residents or 18.7%, up from 16.3% in the 2010 Census.
The Latino/a population grew from 50.5 million (50,477,594) in the 2010 Census to 62.1 million (62,080,044) in the 2020 Census. This represents an increase of more than 11.6 million in the span of ten years.
- The USHCC estimates that the actual population of the Latino/a community exceeds 63 million when taking into consideration individuals who are striving for legal status and citizenship in America.
While the nation’s population increased between 2010 and 2020, the Latino/a population increase accounted for more than half, 51.1% of our nation’s overall growth, affirming that Latinos/as are the fastest-growing demographic in America.
- Between 2010 and 2020, the Latino/a population grew by 23%. In comparison, the nation’s overall population only grew by 7.4% in that same period.