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Study Finds Hispanics Generate Big Bucks for Long Island

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Thursday, May 10, 2007   


New numbers on Long Island's Hispanic population show immigrants powering an economic engine to the tune of $5.6 billion in the last year studied (2004), along with 52,000 jobs, according to lead researcher Adelphi University economics professor Mariano Torras.

“Perhaps more importantly, the Hispanics paid $201 million more in taxes on Long Island than they used in services.”

The study, conducted by Adelphi and the Horace Hagedorn Foundation, finds Hispanics now make up 12 percent of the population on Long Island, and that Hispanic-owned businesses generated two billion dollars in sales (from 1997-2002). Nelson Hernandez owns Legacy Homes Realty in Hempstead, and says he's seeing many more Hispanic business owners.

“Especially in the construction, real estate, and landscaping industries, it's about 55 percent Hispanic in Hempstead, and it's probably about 70 percent businesses owned in our area.”

In 2004, Torras found that Hispanics contributed $201 million in taxes to Long Island.

“This translates into a net contribution, per Hispanic resident of Long Island, of about 614 dollars; so on balance it's a plus.”



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