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Monday, June 26, 2006

Magazine Reports State's 25 Hispanic-Owned Businesses Employed 2,700

Journal Staff Report
    New Mexico has the fourth highest number of large Hispanic-owned businesses in the country, according to Hispanic Business magazine.
    New Mexico's 25 Hispanic-owned businesses generated $587 million in revenue in 2005 and employed 2,700 people, the magazine reported in its June issue.
    Hispanic Business annually collects data from American businesses that are at least 51 percent owned by Hispanic U.S. citizens, then ranks them by size, based on revenue. It reports on the 500 largest Hispanic businesses in its Hispanic Business 500 issue.
    Florida, California and Texas had more large Hispanic-owned business than New Mexico, which also ranked fourth last year.
    Manuel Lujan Insurance Inc. was the largest New Mexico business in the 500, with $121.5 million in revenue. The largest Hispanic business in the country was Miami-based real estate developer The Related Group of Florida, which posted $3.2 billion in revenue.
    The other New Mexico companies in the Hispanic 500, from largest to smallest, are Roses Southwest Papers Inc. of Albuquerque; Desert Sun Motors Inc. of Alamogordo; Wildflower International Ltd. of Santa Fe; Holman's Inc. of Albuquerque; L&M Technologies Inc. of Albuquerque; Orion International of Albuquerque; David Montoya Construction of Albuquerque; Star Paving Co. of Albuquerque; TMC Design Corp. of Las Cruces; Integrated Control Systems of Albuquerque; Contract Associates Inc. of Albuquerque; Applied Technology Associates of Albuquerque; Sparkle Maintenance Inc. of Albuquerque; Albuquerque Printing Co.; The Bank of Belen; Service Electric Co. Inc. of Albuquerque; Apache Construction Co. of Albuquerque; Centinel Bank of Taos; Molzen-Corbin & Associates of Albuquerque; Networx Inc. of Albuquerque; Premier Concrete LLC of Albuquerque; Zia Engineering and Environmental Consultants of Las Cruces; G-Katmar Inc. of Albuquerque; and Fiore Industries Inc. of Albuquerque.
    Details about New Mexico's Hispanic Business 500 companies are available in the magazine and at the magazine's Web site, www.hispanicbusiness.com.