Minority owned business enterprises are not well represented in Monroe County when compared to the State of New York. An analysis of the black owned businesses using 2007 data shows that of all the businesses in Monroe County, only 6.3% belonged to black folks; likewise 3.5% of the all businesses belonged to Asians and only 2.7% of all businesses owned belonged to folks with Hispanic ethnicity. We feel that a closer evaluation of the race demographics of the county will reveal that Asians and Hispanics don't comprise as much of the population of Monroe County as they do for the rest of the State of New York. When it comes to women owned businesses, Monroe County actually leads the State of New York, with 31.2% of all businesses belonging to women compared to 30.4% for the State of New York.
An analysis of the retail sales per capita numbers show that the retail sales for Monroe County are at $11,628, which is roughly the same as the $11,897 for the State of New York. Retail sales per capita is an important number because it denotes the overall economic vitality of the target market. A high retail sales per capita number implies that the folks living in the target market have enough disposable income to spend and this of course means well for local businesses and the demand for commercial real estate. A lower per capital retail sales figure implies lowered spending power and therefore a subdued economic environment with a tepid demand for commercial real estate.
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