Business

Ralcon LLC Completes Million-Dollar Residence

Ralcon is an LLC located in Tucson, AZ. Their scope of work covers all phases of construction from residential to commercial, with a culture dedicated to detail. Their services include full renovations, remodels, kitchen and bath design and remodeling, load bearing wall reconfiguration, additions and enclosures, new custom home design, and construction.They take pride in operating with the utmost integrity, and they offer unparalleled customer service, expertise, quality, and experience in this line of work. They work tirelessly to meet their customers’ needs.

“When we first opened this company, I never thought that we would be working on million-dollar homes. Small family homes, sure. But to be able to work with such an audience, to be able to build something great … has furthered this business beyond measure, and I know it will continue to flourish from here,”  says Ralcon Owner, Ramon Soto.

The U.S Department of Housing and Urban Development announced new residential construction statistics for March 2021:

Building permits for privately-owned housing units went up to 1,766,000. This number is about 2.7% higher than the one listed in February, which was 1,720,000, and it’s a 30.2% increase from the March 2020 number of 1,356,000. Single-family authorizations in March were about 1,199,000, a 4.6% increase from February. 

Privately-owned housing stats increased about 19.4% from February 2021, a 37.0% increase from the March 2020 rate. In February 2021, units were at 1,457,000, whereas in March we saw 1,739,000. Single-family housing numbers were at 1,238,000, which is a 15.3% increase from the February number of 1,074,000. 

Housing completions as of March were adjusted to a seasonal annual rate of 1,580,000, which sits at a 16.6% increase from the February estimate of 1,355,000. It also sits at 23.4%  above the March 2020 rate of 1,280,000. Single-family housing compilation for March reached 1,099,000, which is a 5.3% increase from February (US Census).

According to the US Census, the population of Tucson is roughly 548,000 and 43.6% of that number is Hispanic or Latino. 2019 data shows that the Arizona population is 7,278,717, of which 31.7% is Hispanic or Latino.

For over 24 years, Arizona’s Hispanic Chamber of Commerce has published DATOS: The State of Arizona’s HIspanic Market. This report is a compilation of extensive research regarding the impact of Hispanics in the Arizona Marketplace. IT also shows the overall impact of the state’s growing Latino Population. They publish yearly reports and findings about Latino and Hispanic people’s impact on a broad range of issues including demographics, small business ownership, healthcare, and education, to name a few. The 24th annual report showed that the Hispanic population growth continues to help fuel the national economy (including Arizona). According to the report, Latino buying power is projected to reach $1.9 trillion by 2023, only three short years away. In Arizona alone, the number will reach $57.2 billion by 2022. From June 2009 to June 2019, Latino-owned businesses grew by 34%.

This information tells us that the Hispanic and Latino workforce is consistently growing and is projected to do so for the next three years. Regardless of the challenges this minority group may face, statistics prove that it is not only growing, but helping the national economy. 

Hispanics are the largest minority group in the US labor force. In 2018, the Business Labor Bureau calculated that 3.4 million workers in the US were Hispanic or Latino, and they project that the number of Hispanics in the labor force will be about 7.4 million from 2018 to 2028 (see BLS Chart below). 

For more information please visit: Https://ralconaz.com

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