A dozen local businesses have been included in the 16th annual list of the 500 largest U.S. Hispanic-owned companies in the Hispanic Business Magazine’s June issue.
Since many Hispanic-owned businesses are not Fortune 500 companies, the magazine designed the list to showcase the growth and importance of these companies, according to Enrique Lopezlira, director of research for the magazine.
This list marks the first time that two companies exceeded $1 billion in revenues, he said, adding that is a significant indicator of growth. One company is based in Florida and the other in Colorado.
“Hispanic-owned companies are playing an increasingly integral role in the national economy, as our list once again indicates. It’s gratifying to see this business community come into its own,” said Jesus Chavarria, the magazine’s editor and publisher.
This year, Hispanic Business Magazine mailed out more than 14,000 surveys to companies, he said, adding that every year the list of candidates grows. Readers could also nominate companies they thought should be considered.
Each company was required to complete a profile and submit financial information based on IRS filings for 1999. As a result, only companies that submitted this information were included on the list, Lopezlira said.
– Business Activity Up
In Southwest, Midwest
While a majority of business activity hails from California, Texas and Florida, he said that business growth in the Southwest and Midwest is on the rise.
Most of this activity follows the growth trends of the Hispanic population, he said.
In addition, the magazine has also noticed a higher percentage in the number of women-owned businesses on the list. This year, women own 15.6 percent of companies on the list and a third report some ownership by women, he said.
The list usually reflects general trends in business and the state of the economy as well, he said.
In the early years of the list, many companies were involved in manufacturing and in construction, he said. Now, more businesses are service providers, retailers and exporters.
Following current trends, Lopezlira expects to see growth in the number of high-tech and Internet companies.
– A Dozen Local Firms
Included In Magazine
The following is a listing of local companies, including their number of employees and annual revenues for 1999, featured in Hispanic Business Magazine.
o San Diego-based OneSource Distributors, Inc., doing business as San Diego Wholesale Electric, was ranked number 42 with $81.77 million and 200 employees.
o San Diego-based Reef Brazil, doing business as South Cone Inc., was ranked number 83 with $50 million and 75 employees.
o San Diego-based Century Finance USA LLC was ranked number 85 with $49 million and 21 employees.
o Oceanside-based Ernie Sandoval Enterprises Inc., doing business as McDonald’s of Oceanside, was ranked number 233 with $16 million in revenues and 450 employees.
o San Diego-based Casas International Brokerage Inc. was ranked number 243 with $15 million in revenues and 120 employees.
o San Diego-based Barrios Distributing was ranked number 249 with $15 million in revenues and 10 employees.
o Spring Valley-based Sapper Construction Co. was ranked number 308 with $11.5 million in revenues and 55 employees.
o San Diego-based MYOU Video Corp., doing business as Televideo San Diego, was ranked number 341 with $10 million in revenues and 29 employees.
o San Diego-based Computer Masters was ranked number 342 with $10 million in revenues and 20 employees.
o Santee-based A & D; Fire Protection Inc. was ranked number 353 with $9.41 million in revenues and 54 employees.
o San Diego-based Red & Blue Auto Rental was ranked number 381 with $8.71 million in revenues and 50 employees.
o Chula Vista-based Retail Systems International Inc., doing business as RSI ID Technologies, was ranked number 480 with $6.1 million in revenues and 70 employees.
For more information on the 2000 Hispanic Business 5000, check out (www.HispanicBusiness.com).