Hispanic Contribution to our LI Economy

Adelphi University recently published this study of the economic impact of Latinos on the Long Island Economy. The study was funded by the Horace Hagedorn Foundation.

from the summary:

"As workers, consumers, entrepreneurs and taxpayers, Hispanics make important contributions to the Long Island economy. Hispanic residents add nearly $5.7 billion to total Long Island output as a result of their consumer spending.

Hispanic employment continues to grow very rapidly—increasing by almost one third from 2000 to 2004 alone—and Hispanic workers are an important presence in diverse regional industries, including Manufacturing, Accommodation and Food Services, Landscaping Services and Construction. Hispanic-owned business is also booming in the region, posting almost $2 billion in sales in 2002. In addition, Long Island Hispanic residents contribute positively to local government budgets. This study finds that Hispanics contribute $614 more per resident to local revenues than they receive in local expenditures on education, health care and corrections. "

link to the complete report