Report: Latinos, Asians pump billions into Colorado | AspenTimes.com

Report: Latinos, Asians pump billions into Colorado

The Associated Press
Aspen, CO Colorado

DENVER – An immigration policy group says Latinos and Asians in Colorado have a buying power of nearly $26 billion and their businesses employ more than 53,000 people.

The Washington-based Immigration Policy Center said in a report Wednesday that the Latinos and Asians, who make about 22.6 percent of Colorado’s population, will be an important part of the state’s economic recovery.

The report was based on U.S. Census figures and data from other research groups.

The policy center says the purchasing power of Latinos in 2008 was $21 billion, while Asians had a buying power of $4.8 billion. Nationally, the purchasing power for both populations was $1.5 trillion in 2008, about 14 percent of the U.S..

The economic figures in the report came from the Selig Center for Economic Growth at the University of Georgia.