Published by: Capital Analytics Associates
June 2024 — In recent years, Greater Orlando has experienced a significant demographic shift, largely influenced by an influx of Puerto Rican residents. This migration has enhanced the region’s cultural diversity and brought substantial economic benefits through an amplified workforce and a burgeoning entrepreneurial base.
Between 2010 and 2019, Florida’s Puerto Rican population surpassed one million, increasing by about 38% from 864,577 to 1,190,891, according to the Center for Puerto Rican Studies at Hunter College. On a broader level, Florida boasts a Hispanic or Latino (of any race) population of 5,697,240, and combined with California and Texas account for about half of the total U.S. Latino population.
The region, much like the whole country, has seen a rise in Puerto Rican-owned businesses, ranging from restaurants and retail shops to professional services and tech startups. According to the U.S. Treasury Department, nearly 25% of new entrepreneurs in 2021 were Latino.
Organizations such as the Hispanic Chamber of Metro Orlando and the Puerto Rican Chamber of Commerce of Central Florida have played a pivotal role in supporting these entrepreneurs, offering resources, networking opportunities, and advocacy.
“A diverse and equal business community is essential for cultivating growth, achieving success, and expanding opportunities. By embracing diversity and equality, we create a more inclusive environment and unlock our community’s full potential,” said Pedro Turushina, president and CEO of the Hispanic Chamber of Metro Orlando, in a recent conversation with Invest:.
“Recognizing that diversity drives innovation and creativity is crucial, leading to better problem-solving and decision-making,” he added.
