Yes it does, and with hid lighting most grows will need to exchange the air more than once a minute, unless they have low intake temperatures or have a small bulb for the size of the room.
Also don't forget to factor in ducting, and any filter you may have. Both will affect the actual cfms that you are moving, for a filter add 20% to the size of the fan, I'm not sure on the ducting as different types vary, but I'd say at least 5% for every 6' of ducting (anyone knows better feel free to correct me there)
I would make sure to do these calculations based around the hottest temperatures you encounter, to make sure of having an adequate fan even if the outside temp soars.