TUCSON (By Yvette Armendariz, Arizona Republic) March 25, 2007 — Leaders of Arizona's two largest Hispanic chambers of commerce came together Thursday to develop a plan to help Hispanic entrepreneurs grow and become more competitive.

Leaders from the Arizona Hispanic Chamber of Commerce and Tucson Hispanic Chamber of Commerce held a town hall with the U.S. Hispanic Chamber of Commerce, which is reaching out to local chambers.

"Small businesses are the driving force in the economy," said Elizabeth Gonzalez-Gann, chairwoman of the Tucson chamber. "It's crucial we find ways to nurture that."

Arizona has an estimated 58,000 Hispanic businesses, and leaders want to help them generate business opportunities, improve training and increase exposure through marketing, developing leadership and taking on a bigger advocacy role, particularly nationally.

By developing business basics and stepping up in public policy issues, entrepreneurs will have a better chance to create jobs and keep Arizona's economy growing.

The chamber leaders want to encourage entrepreneurship among a burgeoning Hispanic population, which surged in the 1990s and now represents nearly 30 percent of Arizona's total.

Meanwhile, the most recent data from the Arizona Department of Commerce show just 8.7 percent of Arizona companies are owned by Hispanics.

"Eighty-five percent of our members are small businesses, and it's critical that we stay in tune with their needs to ensure their success," said Israel Torres, chairman of the Arizona Hispanic chamber.

Nationally, corporations and politicians are already taking note of the growth in the Hispanic population, estimated at 13.7 percent of the U.S. population. Companies are increasing marketing budgets and adding people of color in their advertising.

Hispanic buying power was estimated at $686 billion in 2007, according to the Selig Center for Economic Growth at the University of Georgia. It is expected to hit $923 billion by 2009. Arizona ranks No. 7, with $20.9 billion in purchasing power.

The two chambers want to develop a closer relationship and raise their collective voice statewide and nationally.

The national group, which already met with Colorado businesses, also plans to meet with Hispanic chambers in New Mexico and Utah.

Big issues for Hispanic businesses continue to be accessing government and corporate contracts, containing spiraling health care costs, developing a skilled workforce and finding capital for expansion.