THE BRONX - The growing Latino community is becoming one of the demographics with the greatest economic impacts in New York City, according to a new study.

"Nueva York and Beyond: The Latino Communities of the Tri-state Region" was released by the Hispanic Federation and Nielsen.

It says that the Hispanic community is one of the youngest and fastest growing in the area.

The report also points out that despite the high consumer impact, nearly 500,000 Latino households in New York earn an annual income lower than $25,000, which is $30,000 less than the local average.