University of Utah economist Pam Perlich points to the fact that most of Utah's Hispanics are recent arrivals to the state as a possible reason for the slow growth.

"It makes sense there's a little lag time," she said. "It does take people a certain amount of time to get established. . . . It's definitely going to grow, it's just a matter of timing."

Perlich said a variety of socioeconomic factors play into opening a business, including being established in a community and access to capital.

Lorena Riffo-Jensen, co-owner of DPR Communications, which opened in 2002, believes Utah is ripe for growth, and not just from within.

She pointed to Gigante, a Mexican retailer in negotiations with Salt Lake City to locate a superstore on the city's west side.

"A lot of Latino businesses at a national level are now looking at Utah," Riffo-Jensen said. "Utah has nationally been known as a state where there's not a lot of diversity. Now, the numbers are showing that diversity." The 2002 Economic Census reports findings include:

• Retail and wholesale trade accounted for 36 percent of Hispanic-owned business revenue.

• There were 29,184 Hispanic-owned firms with receipts of $1 million or more.

• There were 1,510 Hispanic-owned firms with 100 employees or more, generating more than $42 billion in gross receipts.

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E-mail: dbulkeley@desnews.com