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The Economic Impact of the Hispanic Population on the State of North Carolina

Citation

Kasarda, John D. & Johnson, James H., Jr. (2006). The Economic Impact of the Hispanic Population on the State of North Carolina. Chapel Hill, N.C.: Frank Hawkins Kenan Institute of Private Enterprise, Kenan-Flagler Business School, University of North Carolina at Chapel Hill.

Abstract

Immigrants from Latin America, authorized and unauthorized, are dramatically changing North Carolina’s demographic and economic landscape. Hispanics live in every one of the state’s 100 counties and work in all sectors of the economy. North Carolina’s rapidly growing Hispanic population contributes more than $9 billion to the state’s economy through its purchases and taxes, while the net cost to the state budget (after Hispanic tax contributions) is an estimated $102 per Hispanic resident for health care, education, and corrections. If recent migration trends continue, the total economic impact of Hispanic spending in North Carolina could increase to $18 billion by 2009. Clear opportunities exist for financial institutions and other businesses statewide to capitalize on this increasingly significant market. This study documents the nature and magnitude of North Carolina’s Hispanic population change and estimates the economic impact of Hispanic residents on individual counties, metropolitan areas, and the state as a whole, along with their associated costs and benefits.

Reference Type

Book

Year Published

2006

Author(s)

Kasarda, John D.
Johnson, James H., Jr.