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Hispanic Business 500: Healthy Performance

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REGIONAL HOT SPOTS
Geographically, Florida emerges as the clear leader in developing large Hispanic companies. Florida posts 121 companies on the list this year. Second-place California, the perennial top state until last year, hosted 105 companies. Texas ranked third with 71 companies and New Mexico fourth with 25 (see table, "Top 10 States by Number of Companies").

Virginia moves into fifth place with 20 companies, up from 17 last year. The growth comes from companies involved in government contracting. New Virginia companies on the list report $182.4 million in revenues from federal contracts in 2005.

But Florida beats all challengers inthe revenue category. Florida accounts for $14 billion in revenues, compared to California with $5 billion and third-place Texas with $4.1 billion. Average revenues for a Florida company total $116.1 million, again thanks to a few large companies: nine of the largest 20 companies on the directory come from the Sunshine State.

TOP 10 STATES* BY NUMBER OF COMPANIES
VIRGINIA MOVED FROM 7TH TO 5TH PLACE IN 2005, WITH THREE NEW COMPANIES THAT GENERATED $182.4 MILLION IN FEDERAL CONTRACT REVENUES. CALIFORNIA DROPPED TO 105 COMPANIES, BUT TOTAL REVENUES ARE HIGHER.
  2005 2004
STATE NUMBER
OF FIRMS
REVENUES
($ MILLION)
NUMBER
OF FIRMS
REVENUES
($ MILLION)
FL 121 $14,049.56 122 $11,863.65
CA 105 $5,050.80 112 $4,241.18
TX 71 $4,124.41 67 $3,311.10
NM 25 $587.02 26 $573.52
VA 20 $984.22 17 $891.59
IL 19 $818.94 19 $643.37
NJ 19 $381.49 19 $396.05
NY 17 $390.49 17 $310.63
MI 14 $1,296.77 13 $1,665.42
GA 12 $1,216.03 12 $1,129.39
TOTAL 423 $28,899.73 * *
* Totals don´t compare. The 2004 list included Arizona, which tied with Georgia for 10th place, with 11 companies representing total revenues of $25,228.8 million.
Source: HispanTelligence


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