This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Foreign-born Latinos now account for 3.6 percent of Utah's spending power, or $1.8 billion, according to a study released Thursday.

The study by the Partnership for a New American Economy, provided national and state estimates for the spending power and taxes paid by Latinos, both natives and foreign born. The group is a business-oriented organization that seeks to make an economic case of immigration and its co-chairmen include Disney President Bob Iger and Marriott Corp. Chairman Bill Marriott.

The study said all Latinos in Utah have a spending power of $3.7 billion, or 7.4 percent of the state's total.

Utah Latinos pay a combined $400 million in state and local taxes, again about 7.4 percent of the state's total, it said. About $200 million of that comes from foreign-born Latinos.

That shows "our community spends and continues to contribute to Utah's economy," Francisco Sotelo, president and CEO of the Utah Hispanic Chamber of Commerce, said in a press release.

"As the Hispanic population continues to grow and new doors open for our immigrant community, the contributions will benefit all Utahns," he said.

"As at least 50,000 Hispanics turn 18 years old every month," so "the Hispanic purchasing power will grow exponentially," said Ross Romero, a former legislator and vice president of Zions Bank.

Nationally, the report said Hispanics had an after-tax income of more than $605 billion in 2013. It said that is about $1 of every $10 of disposable income in the country.

Foreign-born Hispanic households made up a sizable portion of that, about $287 billion.