09/2017 D Magazine
With its booming economy and business-friendly environment, companies—and workers—continue to flock to Texas. Nearly half of all new arrivals to the state are foreign-born, according to the Federal Reserve Bank of Dallas. The Fed took a look at the economic impact of immigration in its “Gone to Texas” research report, calling it both a cause and consequence of rapid regional growth.
Fifty-eight percent of the state’s immigrants hail from Mexico, followed by Asia and Central and South America. Beyond boosting local employment ranks, Latino immigrants are a growing entrepreneurial force. There are more than 70,000 Latino-owned businesses in North Texas, and they generate an estimated $10.7 billion in annual revenue, according to New York-based Stout Risius Ross Inc.