Latino Minnesotans represent one of the most significant and dynamic engines of economic growth in Minnesota, contributing at scale as workers, business owners, consumers, and homeowners across the state.
Using the IMPLAN economic impact model, Latino economic activity is estimated to generate more than $52 billion annually for Minnesota’s economy. This impact reflects the central role Latino workers play across key industries, including manufacturing, construction, retail trade, health care, hospitality, and food services. According to 2024 Census data, Minnesota’s workforce includes more than 197,000 Latino workers, making Latinos one of the state’s largest and most essential labor force segments.
Manufacturing alone illustrates the magnitude of this contribution. IMPLAN estimates that Latino workers are associated with approximately $21 billion in economic activity within Minnesota’s manufacturing sector. Similar workforce concentrations and productivity effects are evident across other core sectors that support statewide economic output and competitiveness.
Beyond employment, Latino households contribute strongly to consumer demand. Latino household income in Minnesota is estimated at approximately $11 billion annually (Census 2024). This income supports spending across housing, transportation, food, retail goods, health services, and local businesses throughout the state, reinforcing economic activity well beyond Latino-owned enterprises.
Latino participation in Minnesota’s housing market further amplifies this economic impact. Census 2024 data indicate that Latino households own an estimated $17 billion in residential real estate statewide. Latino homeowners collectively make approximately $125 million per month in mortgage and ownership-related payments. In addition, Latino renters contribute roughly $63 million per month in rental payments to Minnesota property owners. These housing flows support lenders, landlords, construction trades, local governments, and property-related services.
Source: https://data.census.gov/table/ACSSPP1Y2024.S0201?q=population+profiles&t=400&g=040XX00US27
Latino entrepreneurship adds another layer of economic strength. According to Minnesota DEED reporting using Census 2022 data, Latino-owned businesses (2 percent of all Minnesota businesses) generate more than $2 billion in annual sales, employ over 17,000 workers, and pay over $700 million in annual payroll. These firms create jobs, expand local tax bases, and anchor commercial corridors across urban, suburban, and greater Minnesota communities.
Source: https://mn.gov/deed/data/economic-analysis/race-ethnicity
Taken together—workforce participation, business creation, household income, consumer spending, and real estate investment—the Latino economy represents well over $70 billion in connected economic activity in Minnesota. This scale underscores the Latino community’s role not as a niche segment, but as a foundational contributor to Minnesota’s overall economic growth, stability, and long-term prosperity.
