The President of the United States of America, Barack Obama, and the White House released a very important article about the impact of new immigrants on the American economy and the nation at large. They repeated that America is a nation of immigrants and that it would not be the country it is today without a healthy flow of immigrants who bring their unique skills and customs which ultimately benefit the country.
How do immigrants benefit the U.S. economy? They directly contribute to the economy and social diversity. How so? Immigrants start many businesses in the U.S. In fact, close to 20% of small businesses in the U.S. are started and owned by immigrants. These immigrant-owned businesses create jobs for many American workers employing an estimated 4.7 million people and generating more than $776 billion annually.
Immigrants are also more likely to create their own jobs. According to the Department of Labor, 7.5% of foreign born immigrants are self-employed or entrepreneurs, which is much higher than native-born American. That is not surprising. If immigrants took the risk to immigrate, then they are more likely to take other risks including starting their own business.
New American immigrants are involved in cutting-edge technology and many high-tech companies. Immigrants are responsible for 25% of public U.S. companies that are backed by venture capital investors. This list includes Google, eBay, Yahoo!, Sun Microsystems, and Intel. In fact, immigrants represent 33% of all engineers in America, 27% of mathematicians, statisticians, and computer scientist, and 24% of physical scientists.
