In 2015, immigrants contributed $4.2 billion to Memphis’ gross domestic product, according to a report by Latino Memphis and New American Economy.
The report, “New Americans in Memphis: A Snapshot of the Demographic and Economic Contributions of Immigrants in the Metro Area,” is the first solely dedicated to immigrant contributions in the city.
The findings of the report were announced Tuesday at city hall during a reception for Barrier Free, an art installation set up in the Hall of Mayors that’s meant to honor diversity.
“Memphis is a city made better by the diversity of its people and the information in this report shows that,” Memphis Mayor Jim Strickland said.
The report also found that in 2015 immigrant households in Memphis earned a total of $1.6 billion and contributed $109.7 million to state and local taxes.
“Today, facts matter more than ever, and this report sheds light on the contributions that new aspiring Americans bring into our local economy,” Mauricio Calvo, executive director of Latino Memphis said. “The report also shows some of our opportunities for growth, particularly around education.
“Memphis needs to consider immigrants, refugees and the U.S. born generations that follow them as part of our smart growth strategy.”
Read the full story from Memphis Flyer: “New Report Shows Immigrants Contribute Billions to Local Economy”