LDC Releases Part Two of the 2025 Official LDC U.S. Latino GDP Report™, Featuring First-Ever State-Level Forecasts Through 2030 and Mexican American Contributions to Regional Growth
- The 8th edition of the LDC U.S. Latino GDP Report™ – Part Two goes beyond headline numbers to show where America's future growth is coming from.
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First-time features include:
- State-level forecasts through 2030
- Comprehensive subgroup analysis
- A closer look at Mexican American contributions
- Findings highlight not only the $4 trillion scale of the Latino economy but also the regional forces reshaping prosperity nationwide
- California's Latino GDP will surpass $1 trillion in 2025, reaching $1.4 trillion by 2030
- Texas's Latino GDP is projected to reach $1.1 trillion by 2030
- Midwest and Northeast states, such as Ohio and Pennsylvania, are on track to nearly double their Latino economies this decade, proving Latino-driven growth extends far beyond traditional hubs
Building on Part One of the 2025 Official LDC U.S. Latino GDP Report™, which established the $4 trillion scale of the U.S. Latino economy, the Latino Donor Collaborative (LDC) today released Part Two, sponsored by Wells Fargo. This new installment provides forecasts of Latino GDP through 2030, detailed state-level estimates, and a breakdown of contributions from Mexican Americans and immigrants.
"Wells Fargo is proud to partner with the Latino Donor Collaborative to spotlight the economic engine shaping America's future," said Patty Juarez, Executive Vice President of Public Affairs, External Engagement at Wells Fargo. "The data in this report provides essential insights into how Latino entrepreneurship, manufacturing, and workforce growth are creating opportunities across industries."
The findings underscore that Latinos are not outsiders to the American story but central to it. Nine out of ten U.S. Latinos are citizens or lawful residents. Ninety-four percent of Latinos under 18 are U.S.-born or the children of naturalized citizens, and 84% speak only English or speak it well. This population is a deeply rooted and long-term driver of U.S. prosperity.
"Latino GDP now anchors growth at both the national and state level," said Sol Trujillo, Co-Founder and Chairman of the Latino Donor Collaborative. "Mexican Americans drive three-quarters of output in California, Texas, and Arizona, while states like Ohio and Pennsylvania are on track to nearly double their Latino economies by 2030. For the first time, this report forecasts state Latino GDP through the end of the decade, confirming that Latinos are the most dynamic growth engine across U.S. regions."
"The $4 trillion U.S. Latino economy is not just large, it is growing at more than double the pace of the rest of the nation," said Ana Valdez, President & CEO of the Latino Donor Collaborative. "This report highlights the engines behind that growth, from entrepreneurs launching millions of businesses to workers and consumers sustaining entire industries. Latinos are powering America's economic future."
"These forecasts confirm that the Latino growth we reported on earlier will remain a key driver of future economic prosperity," said Jose Jurado, Senior Research Economist at Arizona State University's W. P. Carey School of Business, which conducted the analysis. "Latinos are sustaining growth not just in California, Texas, and Florida, but in regions often overlooked, like the Midwest and Northeast. These findings are essential for policymakers and business leaders preparing for America's future economy."
Key Findings from the 2025 Official LDC U.S. Latino GDP Report™ – Part Two
1. Forecasts of U.S. Latino GDP through 2030
- California's Latino GDP will exceed $1 trillion by 2025 and reach $1.4 trillion by 2030.
- Texas will reach $1.1 trillion by 2030.
- Fastest projected growth between 2023–2030: Ohio (+87.8%), Pennsylvania (+75.6%), Michigan (+65%), Washington (+62%), Virginia (+60.9%), Massachusetts (+61.6%).
2. State-Level and Subgroup GDP (Latino, Mexican American, Immigrant)
- Mexican Americans drive approximately 75% of Latino GDP in California, Texas, and Arizona.
- Latino immigrants generated $1.6 trillion in GDP in 2023, thanks to high labor force participation.
- Regional impact: Latinos powered nearly one-third of total GDP growth in California, Texas, and Florida between 2018 and 2023; in New York the share was 42.9%.
3. Latino Consumption Patterns
- Total spending reached $2.5 trillion in 2023, growing 4.9% annually between 2018–2023, more than double non-Latino consumption growth.
- Share of U.S. consumption rose from 9.4% in 2012 to 13.2% in 2023.
- Distinct patterns: 20% of total video-on-demand usage; 26% of all vehicle purchases and 68% of auto industry growth; 34% of media time spent on streaming vs. 25% for non-Latinos.
Strategic Takeaway
The new forecasts show the Latino economy sustaining growth across every region of the U.S. through 2030, making Latinos not only America's current growth engine, but also its future — from the Rust Belt to the Sun Belt.
About the Latino Donor Collaborative
The Latino Donor Collaborative (LDC) is an independently funded 501(c)(3) nonprofit organization and think tank. The LDC has consistently provided economic and business data through meticulous research and fact-based insights. Its reports have become essential tools for U.S. resource allocators, highlighting the growing opportunities presented by the myriad contributions of U.S. Latinos across the social spectrum. Learn more at www.latinodonorcollaborative.org.
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a leading financial services company that has approximately $2.0 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 33 on Fortune's 2025 rankings of America's largest corporations. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
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Wells Fargo
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