Economics
Why the Next Einstein Can’t Get a Visa
By Shelby Pasell. Though Einstein may be a household name in the United States, he was not born here, and he would have a hard time obtaining a visa if he were alive today. In fact, inventors behind most patents in the U.S. were born outside of the country, according to a new report by the Partnership for a New American Economy, and most face huge difficulty in obtaining visas to stay. Read More
How the President’s Deferred Action Initiative Will Help the U.S. Economy
President Obama’s June 15 “deferred action” announcement is good not only for the 1.4 million unauthorized children and young adults who have been granted a temporary reprieve from deportation, but also good for the U.S. economy. Each year, tens of thousands of unauthorized students graduate from primary or secondary school, often at the top of their classes. They have the drive and intelligence to become doctors, nurses, teachers, and entrepreneurs, but their lack of legal status has prevented them from attending college or working legally. The President’s deferred action initiative has finally provided them with an opportunity to live up to their full potential and, in the process, earn more, spend more, and pay more in taxes. Read More
Immigrant-Owned Small Businesses Contribute More to Economy Than You’d Think
In the never-ending debate over the impact that immigration has on the U.S. economy, the role of immigrant small businesses usually goes unnoticed. While mention is sometimes made of the fact that two in five Fortune 500 companies were founded by immigrants, the little businesses—the majority that employ under 100 people—are often forgotten. In large part, this is due to the absence of basic data on the subject. However, a new report from the Fiscal Policy Institute (FPI) finally quantifies the value of immigrant small businesses to the U.S. economy. Read More
U.S. Losing High-Skilled Workers to Australia, Canada, and China, Report Says
By Shelby Pasell. “As our competitors press ahead with strategic policies suited to a global century, how much longer can America afford to drift with an immigration regime built in 1965?” This is the question addressed in recent report by the Partnership for a New American Economy and The Partnership for New York City. According to the report, as other countries simplify and expand their immigration programs to attract entrepreneurs and high-skilled workers, the U.S. maintains an old system that makes it difficult for much needed workers to secure a visa. By 2018, the U.S. will face a projected shortfall of 223,800 STEM (Science, Technology, Engineering, and Mathematics) workers, but even for graduates of these programs, visas are limited and there is no secure path towards permanent residency. Read More
Michigan Pushes Plan to Welcome Immigrants and their Revitalizing Power to State
While some states pushed for punitive immigration measures over the last year—measures designed to drive immigrants away —others, like those in Michigan, were busy putting together a plan that welcomes immigrants and their revitalizing power to the state. This month, leaders in Michigan—including state Rep. Rashida Tlaib (D-Detroit) and U.S. Rep. Hansen Clarke (D-Detroit)—helped launch “Welcoming Michigan,” a statewide initiative that seeks to welcome immigrants and their entrepreneurial talents to Michigan. Read More
Administration Takes Step Toward More Entrepreneur-Friendly Immigration Policy
BY TEJAS SHAH*. While the U.S. economy continues to recover at a sluggish pace, the administration continues to emphasize immigration reform’s critical role in promoting innovation and entrepreneurship in the U.S. This week, Cecilia Munoz, the Domestic Policy Council Director at the White House, spoke at a forum hosted by The Hamilton Project of the Brookings Institution about the administration’s commitment to immigration reform and easing pathways for foreign investors in the United States. Sadly, however, talented and dynamic foreign entrepreneurs seeking authorization to direct, operate, manage, or work for their investment vehicles often face tedious barriers. Easing these barriers would benefit our economy and enhance our ability to out-compete other countries in the modern global economy. After all, with out foreign entrepreneurs, we wouldn’t have such U.S. companies as Yahoo, Google, and Intel. Read More
New Data Highlights Immigrant Integration and Economic Contributions
A recent analysis of data from the Census Bureau highlights the degree to which immigrants integrate into U.S. society and contribute to the U.S. economy. In its latest statistical profile of the foreign-born population, the Pew Hispanic Center presents statistics which illustrate that most immigrants have been here for more than a decade, more become homeowners the longer they are here, and growing numbers are becoming U.S. citizens. Moreover, the data show the degree to which immigrants fuel labor-force growth and fill valuable roles in the economy as workers in both high-skilled and less-skilled occupations. Read More
Retiring Baby Boom Generation Will Rely on Immigrant, Hispanic Workforce
The U.S. population is rapidly growing older, which is having a dramatic impact on the U.S. labor force. The far-reaching effects of this demographic transformation are very much apparent in the projections released in January by the Bureau of Labor Statistics (BLS). As explained by Rakesh Kochhar of the Pew Hispanic Center, the BLS numbers indicate that “the aging of the non-Hispanic white population is expected to reduce their numbers in the labor force.” At the same time, “the Hispanic population is growing rapidly due to births and immigration.” For those reasons, says Kochhar, the BLS projections indicate that Latinos “will account for three-quarters of the growth in the nation’s labor force from 2010 to 2020.” Read More
Report by Maryland State Panel Details Positive Approach to Immigration
A new report from the Commission to Study the Impact of Immigrants in Maryland concludes that immigrants bring a plethora of economic, social, and cultural contributions to the state of Maryland. The commission, which was created by the Maryland General Assembly, also warns against attempts to deal with unauthorized immigration through enforcement-only policies that needlessly sow fear and distrust in immigrant communities. Rather, the commission admonishes, “Maryland must remain welcoming to immigrants, and the state and its local jurisdictions should further strengthen its efforts to integrate immigrants into the economy and the community.” Read More
New Report Highlights Contributions of Immigrant Entrepreneurs to U.S. Economy
BY MARCIA HOHN, IMMIGRANT LEARNING CENTER At last night’s State of the Union Address, two immigrant entrepreneurs were among the President's guests—Japan-born Dr. Hiroyuki Fujita, founder, president and chief executive officer of Quality Electrodynamics (QED) in Cleveland, Ohio and Brazil-born Mike Krieger, co-founder of Instagram, a fast growing social mobile startup. Dr. Fijuita and Mike Krieger were rightfully recognized for their entrepreneurial drive and hard-earned success (both businesses are now worth millions of dollars), but they are just two examples of immigrants who came to this country and started businesses. There are many more unsung immigrant entrepreneurs whose U.S. businesses continue to create jobs for Americans and strengthen the U.S. economy. Read More
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