By: G. Donald Jud, PhD, Bryan School of Business and Economics, University of North Carolina at Greensboro
Hispanics now comprise the country's largest and fastest growing minority group. The purpose of this research is to assess the economic impact of Hispanic population growth on the location and demand for commercial real estate in the United States. Using input/output analysis, the research detailed the economic impact across various geographic areas including the 50 states and major metropolitan areas. For each geographic area, the research indicates the income and employment impacts on major industrial sectors and estimates the demand for industrial and office space. The research also calculates Hispanic population multipliers showing the impact on employment and industrial/office space per unit of population growth. Thus, the research provides a foundation for estimating the likely impact of future growth in the Hispanic population. Commercial real estate developers and investors will be better able to position their businesses to take maximum advantage of the expected future trends in the growth of the Hispanic population.