HispanicBusiness

Green firms contribute $933 billion a year, employ more than 11 million people, and are one of the few bright spots in these gloomy economic times, according to the Small Business Administration.

A recent Congressional hearing on the status of the green business sector indicated that entrepreneurs, not large corporations, are leading that sector's surge. Nearly 90 percent of the green industry is comprised of small- and medium-sized companies.

"Green technology has taken on an important new role—that of market stimulus, and entrepreneurs are levering it to forge a clear path to economic recovery," said Nydia Velazquez, House Committee on Small Business chairwoman. "That's definitely good for the environment, but it also means new jobs and increased economic activity."

Although Hispanics are only just now beginning to enter the promising green movement, they have traditionally been quick to seize entrepreneurial opportunities.

The panel of experts at the hearing held by the House Committee on Small Business did not specifically address Hispanic efforts, but most experts believe they will play a major role in the development of the companies that drive alternative energy and other green technologies.

The numbers released in the hearing were encouraging: While eight million new workers were hired in the green industry in 2006, that number is expected to increase to 40 million, accounting for 25 percent of the workforce, by 2030. The house committee also noted that as global demand for alternative energy sources increases, the U.S. economy would earn trillions of dollars in export revenue if American businesses continue to lead the green revolution.