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Contact: Alan Fogg, Director, Communications,
afogg@fceda.org, 703-790-0600 (o) or 571-213-5065 (m)
Hispanic-owned firms increase 47 percent in Fairfax County, Census Bureau says
Fairfax has most firms in Virginia; sales top $1 billion in 2002
Fairfax County, Virginia USA, March 21, 2006 - The U.S. Census Bureau reported today that 7,302 Hispanic-owned businesses operated in Fairfax County in 2002, an 47.2 percent increase since 1997 when the last count was taken. The Fairfax County increase is larger than the 31 percent national increase noted by the Census Bureau. The results are among the latest findings of the 2002 Economic Census.
Fairfax County has the most Hispanic-owned firms in Virginia. Fairfax County accounts for about 38.5 percent of all the Hispanic-owned businesses in the Commonwealth and 25.2 percent of the Hispanic-owned businesses in the Washington, D.C., metropolitan area, the Census Bureau reported.
The Census Bureau found that about 90 percent of Fairfax County’s Hispanic-owned firms are sole proprietorships. Hispanic-owned firms in Fairfax County with employee payrolls totaled 727, a 4.8 percent increase since 1997. The 2002 number of firms with employees was 29.9 percent of the Virginia total and 22.6 percent of the Washington area total.
Hispanic-owned companies in Fairfax County employed 10,422 people in 2002, up 22.7 percent since 1997. The 2002 figure was 35 percent of the Virginia total, according to census figures.
“These numbers reflect the size and importance of Hispanic business community on our county’s economy, and they show that Fairfax County is the best place for business people of all backgrounds to succeed,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority.
Other Fairfax County findings from the 2002 Economic Census:
- Hispanic-owned firms had $1.1 billion in sales and receipts.
- Hispanic-owned firms with employees had payrolls totaling more than $335.7 million.
Business growth helps Fairfax County, minutes from Washington, D.C., fund public services such as a top-ranked public school system and library, public safety, social services and park systems that improve the quality of life. Fairfax County offers diverse real estate options, access to domestic and international markets through Washington Dulles International Airport, a business community based on technology and professional services, and a well-educated workforce.
About the FCEDA (www.FairfaxCountyEDA.org)
The Fairfax County Economic Development Authority promotes Fairfax County as a business and technology center. The FCEDA assists businesses by identifying possible sites and facilities, and is a source for up-to-date demographic and economic information. The FCEDA’s Capital Attraction Program links technology entrepreneurs with potential investors. Another program supports the growth of minority and woman-owned businesses. The FCEDA maintains overseas marketing offices in Bangalore, Frankfurt, London, Seoul and Tel Aviv.
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