According to U.S. census estimates, the number of Latino-owned businesses in Utah skyrocketed by 78 percent between 2002 and 2007 — from 5,177 firms to 9,200. That was about three times faster than the 27.7 percent average growth for all firms in Utah in that period. Also, the census estimates that revenues of Latino-owned businesses in Utah grew by a hefty 136 percent during those five years, from $555 million a year to $1.3 billion. That was more than double the 62.9 percent average growth for all businesses in Utah in that period.
Those growth rates were much faster in Utah than the rest of the nation. Nationally, the number of Latino-owned firms grew by 44 percent between 2002 and 2007 (about half as fast as in Utah). Again, that was about double the 18 percent average growth of all firms nationally in the period. The Salt Lake TribuneNote: Data and the full report can be found at http://www.census.gov/econ/sbo/
