The Hispanic and Latino community isn't just growing in population and increasing its buying power in the United States. Its members are also rapidly creating businesses, and a new report finds that three cities in the Metroplex offer some of the best conditions for these enterprises to thrive.
Grand Prairie, Fort Worth, and Irving land in the top 20 nationwide on WalletHub's list of best cities for Hispanic entrepreneurs for 2019. The personal finance site compared more than 180 cities by Hispanic-business friendliness and Hispanic purchasing power, among other metrics, for the report.
Grand Prairie ranks No. 11 overall, earning a total score of 56.27 and ranking No. 27 in Hispanic-business friendliness and No. 7 in Hispanic purchasing power. Fort Worth follows at No. 14 with a total score of 55.35, coming in at No. 29 in Hispanic-business friendliness and No. 14 in purchasing power. And Irving, No. 20, earns a total score of 54.11, ranking 34th in Hispanic-business friendliness and 17th in purchasing power.
Numerous Texas cities are at the top of the list, including Laredo, which ranks No. 1 overall with a total score of 64.69 and takes the No. 2 spot in Hispanic-business friendliness and No. 10 spot in purchasing power.
Also in the top 20 are Corpus Christi (3), San Antonio (5), El Paso (9), Amarillo (12), Brownsville (13), and Austin (17). Houston comes in at No. 27, and Dallas is right behind at No. 28.
The study also finds that Laredo has the second-highest percentage of Hispanic residents in the country, while Brownsville and El Paso follow as the third- and fourth-highest, respectively. The Texas trio also ties for first place (with Hialeah and Miami, Florida) for the highest share of Hispanic-owned businesses.