According to the American Immigration Counsel report, Fueling the Recovery, highly skilled immigrants are a driving factor in the U.S. economic recovery. This 4 part blog series will follow IPC’s report verbatim and is attributed solely to the AIC’s Immigration Policy Center. While we can take absolutely no credit for what follows, we, as advocates of comprehensive immigration reform, find the AIC’s report of such high value in dispelling the myths about immigrant workers that we post it here:
High-skilled immigrant workers create new jobs.
- According to a 2012 report from the Information Technology Industry Council, the Partnership for a New American Economy, and the U.S. Chamber of Commerce, research has found that “every foreign-born student who graduates from a U.S. university with an advanced degree and stays to work in STEM has been shown to create on average 2.62 jobs for American workers—often because they help lead in innovation, research, and development.”
- A 2011 report from the Partnership for a New American Economy concluded that immigrants were founders of 18 percent of all Fortune 500 companies, many of which are high-tech giants. As of 2010, these companies generated $1.7 trillion in annual revenue, employed 3.6 million workers worldwide, and included AT&T, Verizon, Procter & Gamble, Pfizer, Comcast, Intel, Merck, DuPont, Google, Cigna, Sun Microsystems, United States Steel, Qualcomm, eBay, Nordstrom, and Yahoo!
- A 2007 study by researchers at Duke University and Harvard University concluded that one-quarter of all engineering and technology-related companies founded in the United States from 1995 to 2005 “had at least one immigrant key founder,” and that these companies “produced $52 billion in sales and employed 450,000 workers in 2005.” Moreover, these immigrant-founded firms have “contributed greatly to the country’s economic growth over time.”
- A 2006 study by the National Venture Capital Association found that, during the previous 15 years, immigrants started one-quarter of the public companies in the United States backed by venture capital. These companies had a market capitalization of more than $500 billion and employed 220,000 workers in the United States in 2006. The largest of these immigrant-founded firms were Intel, Solectron, Sanmina-SCI, Sun Microsystems, eBay, Yahoo!, and Google.
- A 2001 study by researchers at Georgia State University and the University of Missouri-St Louis found that foreign-born scientists and engineers in the United States are “disproportionately represented” among individuals elected to the National Academy of Sciences and National Academy of Engineering, among authors of scientific papers and patents, and among founders and chairs of biotechnology companies.