May 6, 2016
Plano, Grand Prairie in top 20 U.S. cities for Hispanic entrepreneurs
PLANO, GRAND PRAIRIE - Two area cities ranked in the top 20 U.S. cities for hispanic entrepreneurs, according to a new study by WalletHub.The study examined the 150 most populated...
PLANO, GRAND PRAIRIE – Two area cities ranked in the top 20 U.S. cities for hispanic entrepreneurs, according to a new study by WalletHub.
The study examined the 150 most populated cities in the country and weighed factors like highest median annual income for Hispanics and share of hispanic owned businesses to come up with the list.
Three Texas cities, Laredo, El Paso and Corpus Christi, topped the national list.
Plano ranked No. 12 and Grand Prairie ranked No. 18.
Before the metrics were calculated, WalletHub suspected the areas with the highest Hispanic populations numbers would do the best, according to WalletHub analyst Jill Gonzalez. For the most part, that prediction held true.
But that’s what makes Plano’s high standing impressive. It has a Hispanic population of 14.7 percent, according to WalletHub’s data, which is the lowest figure of any Texas city measured.
The next lowest figure was Arlington, which has a Hispanic population of 28.7 percent.
"In terms of Hispanic purchasing power, that’s where Plano really excelled," Gonzalez said. "It had the eighth highest median household income of Hispanics with about $54,000 a year."
Additionally, only 4.5 percent of Plano Hispanic residents are unemployed, the second lowest figure in the country.
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