Parity Project: Both Los Angeles Daily News and Salt Lake Tribune localize Census report on rise in Hispanic-owned businesses

 

According to a recent report from the U.S. Census Bureau, “The number of Hispanic-owned businesses in the United States increased by 43.7 percent to 2.3 million, more than twice the national rate of 18.0 percent between 2002 and 2007.”

According to the Census report (which can be viewed at: http://www.census.gov/newsroom/releases/archives/business_ownership/cb10-145.html), Hispanic-owned businesses generated $345.2 billion in sales in 2007.

Small wonder that so many companies are trying to tap into the dramatically growing Latino market.

Two Parity Project partner media companies, the Los Angeles Daily News and the Salt Lake Tribune have both localized this story.

The L.A. Daily News, published on Oct. 4, 2010 by reporter Tony Castro, focuses on the growing number of Hispanic-owned companies in Southern California’s San Fernando Valley, which is the paper’s primary readership area.

Castro interviewed the owner of a fitness club and reported that, “The number of Hispanic-owned businesses in California grew by 32.5 percent between 2002 and 2007 but their earnings increased by 41.7 percent, or $81 billion, during that same period, according to the U.S. Census Bureau.”

Check out that the story at: http://www.dailynews.com/news/ci_16252621.

Reporter Lee Davidson of the Salt Lake Tribune had similar findings as he interviewed Latina restaurant owner Martha “Tita” Bricaire.

Davidson includes these figures in his report: “Estimates indicate 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.”

Check out Davidson’s story at: http://www.sltrib.com/sltrib/home/50328740-76/percent-latino-businesses-utah.html.csp.

Both the Los Angeles Daily News and the Salt Lake Tribune are owned by MediaNews Group.