Economic Impact of NC's Hispanics Measured

North Carolina's Hispanic residents generate $9.2 billion in economic activitiy, according to a new study. Moreover, this economic impact is expected to double by 2009.

These findings come from a major report unveiled this week by UNC-Chapel Hill's Kenan Institute of Private Enterprise. Funded by the North Carolina Bankers Association, the study is the first comprehensive, fair and dispassionate attempt to gauge the economic impact of North Carolina's estimated 600,000 Hispanic residents -- citizen and non-citizen, immigrant and native-born, documented and undocumented.

Among the report's key findings were the following:

• Hispanics accounted for 27.5 percent of the state's population growth between 1990 and 2004.
• Contrary to popular perception, the majority of North Carolina's Hispanic residents live in metropolitan rather than rural areas. The Hispanic population is clustered along the I-40/I-85 corridor stretching from Charlotte to Raleigh-Durham.
• The typical Hispanic household is younger, larger and less affluent than a non-Hispanic one.
• Hispanic residents filled one-third of all jobs created in North Carolina between 1995 and 2005.
  
• Hispanic residents contribute $756 million in state taxes and contribute immensely to the state's economic output and competitiveness.
• Hispanic buying power in many rural communities goes untapped due to a lack of consumer outlets. This offers opportunities for growth and entrepreneurship.

Despite its overall positive tone, the study contains two controversial findings. First, the report argues that the public cost of education, health care and corrections slightly exceed Hispanics' tax contributions. Second, the report estimates that Hispanic workers reduce the private sector's wage costs.

Overall, the Kenan Institute's report strives to paint a realistic picture of a complex social phenomenon. Hopefully, it will serve as a springboard for future studies and help inform the public discussion of an emotional and economically crucial subject.