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and numerous barriers to residency in place for international students to stay after graduation, America's outdated immigration policy could allow other countries to out-compete us by attracting and keeping the best and brightest there and not here.
New data shows Grand Rapids’ immigrants earned close to $2 billion in household income in 2017, an increase of more than $100 million in just one year
New York – Today New American Economy (NAE), a bipartisan research and advocacy organization focused on immigration, released new data highlighting the significant contributions immigrants make to Grand Rapids’ community and economy. The data shows that immigrants in Grand Rapids, Michigan are driving economic growth — the… Read More
Colorado Business Leaders Strengthen Commitment to Colorado Compact and Call for Immigration Reform
Denver, CO — Today, a bipartisan coalition of Colorado business, civic, academic, and faith leaders came together to promote the Colorado Compact on Immigration, a set of key principles outlining the need for smart immigration policies at the national level that will ensure the future growth and stability of… Read More
New data shows San Jose’s immigrant household income increased by more than $4 billion in just one year
New York – Today New American Economy (NAE), a bipartisan research and advocacy organization focused on immigration, released new data highlighting the significant contributions immigrants make to San Jose’s community and economy. The data shows that immigrants in San Jose are driving economic growth — the area’s… Read More
Des Moines Register: Iowa’s leaders are putting jobs before politics
A fresh class full of bright young engineers, agronomists, plant scientists and other budding technologists just graduated from Iowa State University of Science and Technology. These are the young men and women who will fuel our innovation economy and keep farms and other businesses booming in central Iowa, and there’s… Read More
Communications of the ACM Opinion: Immigrants Help Solve the Looming STEM Worker Shortage
As an engineering hardware manager working in the rapidly growing automotive electronics industry, I’ve been baffled by politicians who champion anti-immigration policies. If we want our economy to prosper, we should eagerly welcome the world-class talent that’s knocking at our door. I should know. I’ve witnessed firsthand the excellence newcomers… Read More
Houston Chronicle Opinion: Smart, educated and skilled — but stuck at home
Recently, my 4-year-old daughter asked me, “Why are you always home? Why does only Daddy go to the office?” Her question broke my heart. When I was growing up in India, I watched my mother go to her banking job each day. This gave me confidence that I could one… Read More
New American Economy Endorses the Fairness for High Skilled Immigrants Act of 2019
Today Senators Kamala Harris (D-CA) and Mike Lee (R-UT) and Representatives Ken Buck (R-CO) and Zoe Lofgren (D-CA) introduced a bicameral and bipartisan bill, the Fairness for High Skilled Immigrants Act of 2019 (H.R. 1044 and S. 386). New American Economy issued the following statement in support of this legislation:… Read More
Xconomy Opinion: America Should Welcome Immigrant Entrepreneurs
When I came to America in 1987, as a wide-eyed University of Texas grad student, I arrived with just a suitcase and a few hundred dollars — money that my mother, back in India, had scraped together by selling her beloved jewelry collection. Three decades later, I’m a successful biomedical… Read More
Entrepreneur from Argentina Helps Keep Jobs in Michigan
Natalia Kovicak was 22 when she met her future husband on a beach in Mexico. She had a bachelor’s degree in human resources and public relations from the University of Palermo and a good job with the Coca-Cola company in Buenos Aires. She had also launched her own event-planning business. Read More
Entrepreneur Couple from Albania Spreads Good Will Through Coffee
The chance of winning the diversity visa lottery is bitterly low—about one percent. Mateo Hodo’s family won the lottery, granting them U.S. residency, in 2002, and moved from Albania to Michigan and, later, Maine. Alba Zakja won the lottery in 2009, and moved to Maine to be near Mateo,… 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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