National Hispanic Heritage Month—observed each year from September 15 to October 15—honors the histories, cultures, and contributions of Americans with roots in Latin America and Spain. The observance begins on September 15 to coincide with the independence anniversaries of Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua, and September 16 marks Mexican Independence Day.
In Illinois, the celebration is inseparable from an economic story. Illinois’ Hispanic and Latino community is the state’s fastest-growing population—and one of its most entrepreneurially active. From Chicago’s vibrant Pilsen and Little Village neighborhoods to agricultural hubs across Central and Southern Illinois, Hispanic and Latino entrepreneurs, workers, civic leaders, and cultural institutions are among the most consequential contributors to Illinois’ economy.
At Illinois EDC, we are proud to celebrate and champion this community, and to highlight the depth of what Latino leadership and enterprise mean to the state we work to grow.
By the Numbers: Illinois’ Latino Business Community
Illinois is home to 2.4 million Hispanic and Latino residents—19% of the state’s total population of 12.7 million—and ranks #5 among U.S. states for Hispanic population (U.S. Census, 2024 ACS 5-Year Estimates).
The economic footprint of this community is substantial:
- $145.2 billion: Illinois’ Latino GDP, one of the largest in the nation (Latino Donor Collaborative, 2025)
- 174,942 Hispanic-owned employer and nonemployer firms, representing 12.5% of all 1.4 million Illinois firms statewide (U.S. Census, 2023 Nonemployer and Employer Statistics)
- 12% of all small businesses in Illinois are Hispanic-owned (Illinois 2025 Small Business Profile, SBA)
- Illinois ranks #5 in the nation for Hispanic-owned small businesses (2025 national analysis, B2B Reviews)
- 79%—the Latino workforce participation rate in Illinois in 2022, the highest rate among all racial and ethnic groups in the state (UIC Great Cities Institute, 2026)
- The Latino population grew by nearly 700,000 people—a 45% increase—from 2000 to 2020, while the state’s total population grew by just 1% over the same period (UIC Great Cities Institute, 2026)
As with all demographic data, these figures reflect a portion of a larger, more complex picture. Behind every number are real entrepreneurs, workers, and families whose contributions shape Illinois every day.
Notable Hispanic-Led Businesses in Illinois
Illinois continues to attract and grow Hispanic- and Latino-led companies across industries—from agriculture and food manufacturing to financial services and technology:
- El Milagro: Founded in 1950 by Raúl López, a Mexican immigrant from Mexico City, El Milagro has built a multigenerational presence across three Chicago locations and manufactures tortillas for taquerias throughout the city. With estimated annual revenues between $200 million and $500 million, El Milagro stands as one of the most enduring Hispanic-founded enterprises in Illinois history.
- Cabrera Capital Markets & Partners: Founded by Illinois EDC Board Member Martin Cabrera in Chicago in 2001, Cabrera Capital Markets & Partners has grown to eight offices nationwide and has issued more than $2.98 trillion in debt and equities for municipalities—a remarkable testament to Latino leadership in financial services.
- Enriquez Produce, Inc.: Co-founder and CEO Pablo Enriquez built this family-owned wholesale agriculture business in the heart of Chicago’s Pilsen community, where it has been rooted since 1989. The company generates an estimated $5 to $10 million annually and remains connected to the neighborhood’s long-standing Mexican heritage.
- FARO Associates: Founded by Olga Camargo, FARO Associates is a minority- and women-owned business enterprise and fintech platform focused on empowering Hispanic and Latinx communities through financial literacy, capital management support, and business consulting services.
- Reyes Meats: Founded by Juan Reyes, Reyes Meats is a Hispanic-owned premium meat distribution company supplying cuts of beef, pork, poultry, lamb, and veal to restaurants and home cooks. The company recently expanded into the Calumet City market by purchasing a 40,368-square-foot USDA-certified food processing facility with extensive cold storage infrastructure.
- Cantarero Pallets: A leading wooden pallet manufacturer owned by Anwar Cantarero, Cantarero Pallets has been a family business for more than 20 years. The company recently expanded by adding a second facility in Bolingbrook—a 220,000-square-foot warehouse purchased for $12 million, equipped for manufacturing, recycling, storage, and logistics operations.
These companies reflect the range and ambition of Hispanic entrepreneurship in Illinois: generational businesses with deep community roots, growing enterprises expanding their physical footprint, and financial service innovators building wealth for the broader Latino community.
Supporting Latino Entrepreneurship: Programs and Resources
Illinois’ ecosystem for Hispanic business growth is strengthened by a robust network of support programs, from one-on-one advising and grant capital to government contracting pipelines and tech accelerators.
Illinois Hispanic Chamber of Commerce (IHCC)
The IHCC is at the center of this ecosystem. In 2025 alone, the IHCC Small Business Development Center counseled 292 clients across 889 counseling sessions and 1,604 hours of business advising, helping Hispanic and Latino entrepreneurs access resources and secure $606,473 in non-debt financing.
The IHCC also administers the Procurement Academy—developed in partnership with Dominican University’s Brennan School of Business and the Greater Waukegan Development Coalition—an eight-week cohort that equips small businesses to navigate government contracting and grow their operations. One graduate, SLOG Group, received technical assistance from the Illinois APEX Accelerator at IHCC to compete for public-sector opportunities, and in October 2025 secured its first government contract, contributing to $2.3 million in contracts awarded to businesses assisted by the APEX program.
The IHCC has also partnered with Chicago innovation hub 1871 since the launch of LTNTECH—a 10-week program helping Latino tech founders build their companies through leadership development, mentorship, business strategy, capital readiness, and connections to Illinois’ growing technology ecosystem.
Chicago Community Trust’s Nuestro Futuro Fund
Since 2003, the Nuestro Futuro Fund has raised more than $8.5 million and donated more than $5 million to support 102 organizations—making it the largest affinity fund in the nation dedicated to Latino philanthropy.
IHCC Foundation Resilient Communities Initiative
The IHCC Foundation’s emergency grant program offers $5,000 per qualifying business to Hispanic-owned small businesses throughout Chicago communities affected by immigration-related disruptions and economic setbacks, distributing grants to 52 businesses per funding cycle for a potential total of $260,000 in grant support per cycle.
Notable Hispanic Illinoisans
Across business, public service, law, literature, labor, and civic life, Hispanic Illinoisans have left an indelible mark on the state:
- David Andalcio: Illinois EDC board member and founder and CEO of WYNNDALCO Enterprises, LLC, a technology management services firm providing IT solutions, staffing, and logistics. A deeply respected leader in the technology sector and the Latino community, Andalcio has earned recognition including Latino Entrepreneur of the Year, the Latino Leaders Maestro Innovation Award, the Chicago United Business Leaders of Color recognition, the Community Champions Award by Hispanic Business of Chicago, and Hispanic Businessperson of the Year from the United States Hispanic Chamber of Commerce.
- Susan Mendoza: An Illinois public official who became the first Latina elected to a statewide constitutional office when she was elected Illinois Comptroller. Mendoza previously served as alderman for Chicago’s 33rd Ward.
- Jesús “Chuy” García: A longtime Chicago-area public servant, García became the first Mexican-born person elected to the Chicago City Council and has since served as a Cook County commissioner and U.S. Representative for Illinois, with a career focused on immigration, workers’ rights, affordable housing, and economic opportunity for Chicago’s Latino community.
- Sandra Cisneros: Award-winning author and Chicago native best known for The House on Mango Street, one of the most celebrated American novels of the 20th century, whose writing is deeply rooted in Chicago and Mexican American identity.
- Carlos Tortolero: Founder and president of the National Museum of Mexican Art in Chicago, one of the nation’s leading institutions dedicated to preserving and celebrating Mexican and Mexican American heritage.
- David Cerda: Illinois attorney and jurist who became the first Hispanic person appointed to the Illinois Appellate Court, representing a landmark for Latino legal professionals in Illinois.
- Jorge Ramirez: Longtime Chicago labor and civic leader who served as president of the Chicago Federation of Labor, strengthening the relationship between organized labor and Chicago’s Latino community and becoming a prominent voice in Illinois’ labor movement.
- Luis Gutiérrez: Puerto Rican representative of Illinois’ 4th Congressional District and chair of the Congressional Hispanic Caucus Immigration Task Force, where he became a leading national voice on immigration policy.
- Rudy Lozano: Mexican American labor organizer, civil rights activist, and community leader whose work to improve conditions for workers and expand political representation for Chicago’s Mexican American population helped inspire a generation of Latino civic leaders and activists.
- Sammy Sosa: Dominican American former Major League Baseball player and one of the most iconic figures in Chicago Cubs history, who became the first player in Cubs history to hit 60 home runs in a season—a feat he accomplished three times—and remains an important symbol in Chicago’s Latino community.
Organizations Bolstering the Ecosystem
Illinois’ Hispanic and Latino business community is supported by a broad network of organizations working across business development, workforce training, civic engagement, and community services:
- Illinois Hispanic Chamber of Commerce (IHCC): A business advocacy and development organization that helps Hispanic and Latino entrepreneurs start, grow, and scale their businesses through training, advising, networking, capital access, and government contracting resources.
- Illinois Local Government Hispanic Network (ILGHN): A nonprofit professional association that connects, mentors, and supports Hispanic and Latino public service professionals through leadership development, networking, and community engagement.
- Casa Central: A Chicago-based nonprofit providing comprehensive social services for children, families, and adults—including early childhood education, workforce development, housing support, violence prevention, and senior programs.
- Instituto del Progreso Latino: A community-based nonprofit that empowers Latino immigrants and families through education, workforce training, career pathways, citizenship services, and employment programs that promote economic mobility.
- Illinois Hispanic Federation: Advances opportunities for Latino communities through advocacy, capacity building, educational initiatives, workforce development, and civic engagement across the Midwest.
- The Resurrection Project: A community development organization building community wealth and promoting immigrant, housing, and economic justice through affordable housing, financial wellness services, leadership development, and immigration support.
- Illinois Coalition for Immigrant and Refugee Rights (ICIRR): A statewide coalition advocating for the rights of immigrants and refugees through equitable policy, community resources, civic engagement, and a network of member organizations across Illinois.
Together, these organizations form a support infrastructure that is helping Latino entrepreneurs and community members access opportunity, build wealth, and lead at every level of Illinois’ economy.
Celebrate Hispanic Heritage Month in Illinois
Looking to connect with and support Illinois’ Hispanic Heritage Month celebrations? These resources are a great place to start:
Grow With Us
For Hispanic- and Latino-led companies considering expansion or relocation, Illinois offers:
- A diverse, globally connected workforce—with Latinos comprising 19% of the state’s population and its fastest-growing demographic
- Proven public-private support programs, including EDGE and EDGE for Startups
- Access to capital, business advising, and a robust network of chambers and community organizations
- A culture of leadership that recognizes and elevates Hispanic voices across business, government, and civic life
Interested in learning more about Illinois for your company? Get in touch with our team today.
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