The Hispanic market, and what it means to Austin

The GAHCC Social Media Ambassadors

The Greater Austin Hispanic Chamber of Commerce (GAHCC) Annual Members’ Meeting was held January 23^rd, 2013, to showcase the current climate of the Chamber and Central Texas, and where we are headed. Currently, Hispanics make up 35% of the population in Austin, and represent a $13.5B impact. The GAHCC plays a pivotal role in growing the economy through offering programs and initiatives that stimulate Hispanic businesses to prosper in Central Texas.

We began our evening with the Chamber’s 2012 highlights as reported by our Immediate Past Chair, George A. Gutiérrez. Two of my initiatives that were mentioned include:

• The Chamber hosted more than 86 businesses development programs, including a numerous amount of social media and online marketing workshops.
• Launched the 40 Reasons Why Campaign. Join the conversation here, or on Twitter using #40Reasons.

The agenda seamlessly proceeded with City Demographer, Ryan Robinson, who provided attendees a look at the Central Texas evolving demographics. Robinson led the conversation with: “This is a fantastic time to be in Austin, Texas,” and the Chamber is proud to be a driving force in Central Texas. Following are a few key takeaways:

• One Workforce, Two Marketplaces: We have a growing Latino marketplace between Austin and San Antonio, a challenge now is connecting the two areas.
• Austin, which refers to the Austin Metropolitan Statistical Area (MSA), is the fastest growing city in the United States in 2010 – 2011.
• Austin MSA has a growing inflow of economic migrants, primarily from CA, FL, and the Upper Midwest.
• As reported in November 2011 the annual rate in job growth was 12,800. In November 2012 the rate jumped to a whopping 35,300.
• There are more than 12,000 condo and apartment units currently under construction within City of Austin.
• From the years 2000 – 2010, the Latino population growth was attributed to 41% Domestic Migration, 36% Natural (born), and 23% International Migration.
• Predicted growth: between 2035 & 2037, Texas will become a majority Latino state.
• Austin is getting bigger & bigger, and there are opportunities everywhere!

This impactful information was followed by a presentation on the new 2013 strategic priorities for the GAHCC. Gutiérrez began the conversation by reiterating the Chamber’s Pillars: Economic Development, Workforce Development, Business Networking, Community Advocacy, and Policy Advocacy. These pillars reinforce the Chamber’s vision to be the leading force for Hispanic business’ economic growth in Central Texas. The Chamber will focus on implementing our new priorities to help build Hispanic business:

• To ensure Hispanic business growth and close annual revenue sales gap.
• To improve the climate for Hispanic business growth through advocacy programs.
• To recognize, communicate, and connect Hispanic owned businesses.
• To become the largest member based Chamber by the year 2020.
• To ensure optimal GAHCC infrastructure to enhance strategic success.

In 2007, there were 21,000 Hispanic owned businesses in Central Texas, with $2.5B in annual revenue. Currently, in Central Texas there are 33,000 Hispanic owned businesses with $4B in annual revenue. According to these statistics, in 2020 there will be 42,000 Hispanic owned businesses at $7.5B in annual revenue.

With the GAHCC’s 2020 Multiplier Effect, there will be 47,000 Hispanic owned businesses in Central Texas, with $15B in annual revenue, and $30B contribution to Central Texas’ economy, and it is the GAHCC’s goal to achieve this through our 2013 strategic priorities. Whether you are a Hispanic business owner, a corporate executive, or sell/provide services to the Hispanic market, the GAHCC is an organization you definitely want to be a part of.

Thank you to the sources that made this information possible:
City of Austin, City Demographer
2010 Census
Cultural Strategies, Inc.
Q Communications Group

Full article available on Noticias Digital.