Mesirow Financial Special Economic Report: Thriving Mexican Market Presents Opportunity for Businesses with Culture-Centric Marketing – Chicago, Illinois

“A special economic report issued today by Mesirow Financial sheds new light on the surging economic influence of Chicago’s Mexican market and its implications for local businesses. Written by the firm’s Director of Economic Communications, Olga Camargo, the report uses Chicago’s Little Village Neighborhood (a predominantly Mexican community) as a case study to show that as buying power in the Mexican community increases, local businesses must redefine marketing strategies to mirror the market’s cultural and ethnic values. “Current buying power among the Hispanic market is $600 billion and is estimated to reach close to $1 trillion by 2010,” says Camargo. Financial institutions could have the most to gain, as the remittance business and Individual Tax Identification Number (ITIN) mortgage business are on the rise. In 2004, the Federal Reserve Bank of Dallas reported that Mexicans across the nation have created a $13.3 billion remittance business. Locally, Camargo’s report notes that the Mexican community in Chicago’s Little Village area generates an estimated $900 million a year in sales, which is said to be spawning tax revenue for the city that is second only to Michigan Avenue.”

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