Immigrant entrepreneurs in the United States create jobs and strengthen the U.S. economy, and the U.S. should structure its immigration laws and policies to encourage them to remain here, according to a joint report issued Jan. 25 by the U.S. Chamber of Commerce and the Washington, D.C.-based Immigration Policy Center.
The report, “Immigrant Entrepreneurs: Creating Jobs and Strengthening the U.S. Economy,” recommends the U.S create visas for entrepreneurs who create jobs, remove hurdles for foreign students with desirable skills so that they stay in the U.S., and cut red tape for entrepreneurs trying to immigrate to the country.
“Immigrant-owned growth businesses are hugely important to strengthening local economies, as well as providing jobs essential to economic recovery," said report author Marcia Drew Hohn, director of the Public Education Institute at The Immigrant Learning Center.
“The U.S. Small Business Association estimates that small businesses have generated 64 percent of the net new jobs over the past 15 years and credits immigrant businesses with a significant contribution to this job growth,” Hohn said.
The report profiles immigrant entrepreneurs and details the difficulties they face.
According to the 2002-2007 economic censuses, the number of Asian American-owned businesses increased more than 40 percent in that period, twice the national rate. These businesses employed about 2.8 million people.
The study also urged the U.S. Department of Homeland Security to create “more business-friendly policies” and comply with a Jan. 18, 2011 Executive Order requiring agencies to ensure that regulations promote “economic growth, innovation, competitiveness, and job creation and predictability.”
Read More: Immigrant Entrepreneurs Boost U.S. Economy, Asserts Study
