For the first time since 2002, revenues by U.S. Hispanic-owned businesses slipped, but not by much, according to the June issue of Hispanic Business magazine.

 

New Mexico’s Hispanic-owned businesses continued to make the magazine’s annual list of the largest Hispanic-owned companies in America. According to the Hispanic 500 survey, New Mexico has the fourth highest number of businesses on the list, behind only Florida, California and Texas.

 

The Land of Enchantment boasts 25 of the largest Hispanic-owned companies, with the Manuel Lujan Insurance Agency topping New Mexico’s entries at No. 54.

 

The Lujan Agency and its CEO, E. Larry Lujan, is a perrenial on the list, with 2007 revenues totally $134.51 million.

 

Roses Southwest Papers Inc. was the only other New Mexico company to crack the top 100. Roses and CEO Roberto E. Espat moved up from No. 86 last year to No. 74 this year.

 

The magazine’s annual report is one barometer of the Hispanic economy, and the magazine reports that businesses on its list "have endured turbulent economic times before, but market conditions proved especially bearish for U.S. Hispanic companies in 2007."

 

Revenues for this year’s HB 500 slid backwards .6 percent to $36.1 billion, the first such dip since 2002. It’s only the third time in the 26-year history of the HB 500 that Hispanic businesses revenues have even fallen.

 

But the news isn’t all that grim considering that since 1983, revenues from Hispanic businesses have increased seven-fold.

 

For a complete list of all companies, search the magazine’s data base by state.