Global Competitiveness
The United States has long been the destination for the world’s most talented immigrants. Despite the last 50 years of technological advancement, American immigration policy has remained virtually unchanged, putting in danger America's global competitiveness. Yesterday's immigration policy no longer meets today’s economic needs. Only about 14 percent of all U.S. green cards are given for economic reasons, compared to more than 60 percent in Canada and Australia. With no dedicated visa for entrepreneurs and numerous barriers to residency in place for international students to stay after graduation, America's outdated immigration policy could allow other countries to out-compete us by attracting and keeping the best and brightest there and not here.
10 Indicators That Immigrants Initiate Job Creation
40% of Fortune 500 companies were founded by immigrants or their children. Immigrants are more than twice as likely as the native-born to start a business. Immigrants are 13% of the US pop but started 28% of US companies founded in 2011. Immigrants… Read More
10 Reasons Your Wallet Should Want Immigration Reform
Immigration reform would increase real GDP by 5.4% over the next 20 years. A 5.4% increase in GDP would add $1.4 trillion to the U.S. economy. Immigration reform would also decrease federal deficits by $1.2 trillion over the next 20 years. Read More
Hope for the unfinished business of immigration reform
Conventional wisdom has it that immigration reform is dead. I couldn’t disagree more. Though action on reform this year is unlikely, the political calculus is shifting, creating a window of opportunity in 2015. Even so, stubborn myths persist about immigration reform, namely, that Republicans don’t support it, that it’s bad… Read More
U.S. competitiveness tied to solving immigration problems
President Barack Obama is expected to announce momentous decisions soon on the use of executive authority to help the more than 60,000 children fleeing Central American violence who have crossed into Texas, and an equal number of families currently being held at the border. While Congress… Read More
Restauranteur: Meaningful immigration reform needed this year
In Oklahoma, immigrants are making a significant mark in starting new businesses. Despite accounting for 5.5 percent of the state’s population, 7 percent of the state’s business owners are foreign born. Oklahoma’s foreign-born entrepreneurs generate more than $475 million in annual revenue, according to the Partnership for a New American… Read More
French Founder Launches Second Company in U.S. for Better Opportunity
Stéphane Le Viet, who earned a Master’s in applied mathematics at Harvard University, started a U.S.-based company while still living in France that helps other companies advertise jobs on Facebook. After earning a hefty round of financing, he’ll be moving to the United States on an investor visa… Read More
U.S. losing tech talent to Canada
The land of the free isn’t catering to talented techies quite like our neighbors to the north. So many entrepreneurs have given up on navigating the complicated U.S. immigration system and are heading to Canada to launch their startups. For Madhuri Eunni — originally… Read More
Kentucky’s vested interest in immigration reform
Following the new millennium, Kentucky witnessed staggering growth to its immigrant population. These residents brought business and a new labor force, strengthening the state’s economy. This reason alone necessitates that Kentuckians have a vested interest in immigration reform. Just consider national elections: If any Republican veers from the conservative stance,… Read More
The hidden immigration crisis: Keeping talent in the United States
With tens of thousands of unaccompanied minors already across the southern border and thousands more likely on their way, illegal immigration has become a flash point for many Americans. Some people feel compelled to embrace vulnerable children who fled Central America in search of a better life; others are deeply… Read More
Impending Labor Challenges
The United States is facing demographic challenges that endanger its preeminent economic position in the world. An aging workforce threatens the vitality of the labor force. At the same time, the supply of U.S.-trained engineers is lagging behind nearly all other industrialized economies. At a time when tech-heavy and innovation driven industries are driving economic growth, the United States faces the prospect of being left behind.
Table 1: Share of Population Age 65+, 1996, 2006, 2016 and projected 2030
Table 2: Share of Undergrads Studying Engineering
Prioritizing Economic Needs
Many countries have identified the link between immigration and economic growth. For many, such moves are a matter of necessity–the domestic labor force is not sufficient for an expanding economy, and aging populations and declining fertility rates are creating labor shortages. Despite facing some of the same challenges, U.S. immigration policy has not changed to reflect our economy’s evolving needs.
Table 3: Percentage of All Permanent Residency Visas Given for Economic Reasons*
Need for a Start-Up Visa
Countries around the world, from France, to Chile, to Singapore have created visas aimed at attracting promising entrepreneurs and job creators. Despite concerns about meager job creation and business growth, however, the United States has not taken a similar step, endangering our position in the global race for talent. This situation was made worse in 2017 when the administration took the first steps to kill the International Entrepreneur Rule, a measure that would have allowed entrepreneurs with outside funding to remain in the country for 2.5 years to establish their businesses.
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