Arkansas' Hispanic Market is Fastest-Growing in U.S. - KAIT Jonesboro, AR - Region 8 News, weather, sports

Little Rock, AR

Arkansas' Hispanic Market is Fastest-Growing in U.S.

LITTLE ROCK, AR - Arkansas is home to the fastest growing Hispanic market in the country, although a new study says this ethnic group still accounts for only a small portion of the purchasing power of Arkansans overall.

The University of Georgia's Selig Center for Economic Growth says in a report that the buying power...potential spending measured as income minus taxes, of Arkansas Hispanics rose 1,322 percent in the past 17 years.  The actual figure jumped from from $164.4 million in 1990 to $2.3 billion in 2007.

Nationally, the study found Hispanic buying power rose 306.8 percent from 1990 to 2007.

But in terms of economic clout, the state's Hispanic community had only 3.2 percent of Arkansas $74.1 billion purchasing power in 2007.  Hispanic Arkansans ranked 34th in buying power in 2007 among the states, compared with 43rd in 1990 with a 0.5 percent share of the state market.

(Copyright 2007 by The Associated Press.  All Rights Reserved.)

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