New research from New American Economy underscores the crucial role the Hispanic population plays in Texas’ labor force, population growth, and economy In 2019, Hispanic households earned $213.8 billion in income, with $32.6 billion going to federal taxes and $18.7 billion going to state and local taxes | | AUSTIN, TX – New research released today by Texans for Economic Growth, a statewide 110-member business coalition powered by New American Economy (NAE), underscores the critical role Hispanic Texans play in the Texas economy statewide, as well in the major metros of Austin, Brownsville, Dallas, and Fort Worth, El Paso, Houston, and San Antonio. The new reports were prepared in partnership with the Texas Association of Business and the Texas Association of Mexican American Chambers of Commerce (TAMACC) and released at this virtual roundtable discussion moderated by J.R. Gonzales, Executive Vice-Chair of TAMACC. Roundtable participants include Anette Landeros, President and CEO of the Fort Worth Hispanic Chamber of Commerce, Massey Villarreal, incoming Chairman of the Texas Association of Business, and Dr. Sandi Wolff, Head of Strategic Relations and Membership for the San Antonio Hispanic Chamber of Commerce. | | Key findings: - Hispanic Texans in the state are contributing billions in taxes and consumer spending. In 2019, Hispanic households earned $213.8 billion in income, with $32.6 billion going to federal taxes and $18.7 billion going to state and local taxes, leaving them with $162.4 billion in spending power that can be reinvested in local communities. Robust consumer spending by Hispanic households supports small businesses and keeps local economic corridors vibrant.
- Hispanic Texans are helping drive population growth in the state. Between 2010 and 2019, the U.S.-born Hispanic population grew by 26.7 percent, while the foreign-born Hispanic population grew by 8 percent. In 2010, 37.7 percent of the overall population in Texas were Hispanic, that number grew to 39.8 percent in 2019.
- Hispanic Texans play a crucial role in meeting the state’s workforce needs. In 2019, 66.7 percent of the overall Hispanic population and 66.4 percent of the foreign-born Hispanic population were active in the labor force, compared with 64.1 percent of the non-Hispanic population.
- Hispanic Texans hold substantial voting power. In 2019, there were nearly 5.7 million eligible Hispanic voters, including more than 960,000 naturalized citizens. Overall, the Hispanic population made up 31.1% of the electorate, including Hispanic naturalized citizens, who on their own made up 5.2%.
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