ESOL teacher Cassie Rose directs her class in an assignment Friday, Aug. 22, 2014, at Howard School in Chattanooga, Tenn. Howard, which has been a historically black school, has a growing population of hispanic students.Highest Hispanic population growth1. Montgomery, Ala.2. Huntsville, Ala.3. Chattanooga4. Fayetteville, N.C.5. Miami, Fla.Highest number of Hispanics per capita1. Laredo, Texas2. Hialeah, Fla.3. Brownsville, Texas4. El Paso, Texas5. Santa Ana, Calif.Highest share of businesses owned by Hispanics1. Hialeah, Fla.2. Laredo, Texas3. Brownsville, Texas4. El Paso, Texas5. Miami, Fla.Source: WalletHub
Numbers aren’t everything.
Chattanooga’s Hispanic population more than tripled between 2000 and 2010. But that growth may not have translated to the local economy.
An analysis by personal finance social network WalletHub ranked Chattanooga third among the 150 largest U.S. cities for growth in the Hispanic population. Yet the Scenic City ranked closer to the bottom of the list for Hispanic purchasing power and business friendliness toward Hispanics.
With a population of 54 million, Hispanics now make up the nation’s largest ethnic or racial minority, and by 2050 could make up a third of the population. And their influence on the economy is only growing — more than 3 million Hispanic-owned businesses rake in nearly $500 million in annual revenue, according to the United State Hispanic Chamber of Commerce. Chamber President and CEO Javier Palomarez has called Hispanic entrepreneurs “America’s business future.”