A report on immigrant entrepreneurs, authored by the Immigrant Learning Center (ILC) Public Education Institute of Malden, Massachusetts, and a joint effort between the U.S. Chamber of Commerce and the Immigration Policy Center of the American Immigration Council to explore job creation by immigrant entrepreneurs urges policy and action. This would include creating an “entrepreneur-friendly culture for employment based benefit adjudications”; creating a “visa category specifically targeted for immigrant entrepreneurs who want to establish a U.S. enterprise and create jobs”; and “removing hurdles for foreign students with desirable skills to remain in the U.S., focusing on those with graduate degrees and who are offered employment by U.S. companies”. The report points out that the U.S. immigration system often forces immigrant entrepreneurs to leave the United States – driving them to other countries competeing for international talent – rather than welcoming them to stay.
“An outstanding characteristic of these immigrant entrepreneurs is their courage to take risks.” In Massachusetts, immigrants, who make up only 14% of the state’s population, founded 61% of its new businesses in 2008. These entrepreneurs have aided economic recovery by fostering commerce, innovation, and job growth.”
I’ve previously blogged about how immigrants raise wages for native-born americans. I hope that we are on the path to implementing a more entrepreneur-friendly and talent-retaining immigration system, which will serve to boost the U.S. economy.