A new report released by the New York State Comptroller’s Office shows the impact and contribution the growing Hispanic population in New York has had on shaping the economy.
According to the report, nearly 3.7 million New York residents are Hispanic – about 20 percent of our total population. While there are Hispanic New Yorkers living in every city and county across the state, 87 percent of Hispanics reside in New York City, Long Island and Westchester County.
As of 2013, more than 75 percent of Hispanic New Yorkers aged 18 to 24 had earned a high school diploma (or its equivalent), up sharply from 57 percent in 2000. And Hispanics accounted for 17 percent of New York’s labor force.
Entrepreneurship and business ownership are on the rise in the Hispanic community. The report found that between 1997 and 2012, the number of Hispanic-owned businesses more than doubled, from 104,000 to nearly 268,000. This means that 13 percent of all businesses in New York are owned by Hispanics.
While the report focuses primarily on data from New York City, similar contributions are evident on Long Island and across New York State.