August 29, 2012
According to the new report by the nonpartisan Partnership for a New American Economy, “Open for Business: How Immigrants are Driving Business Creation in the United States,” immigrants were responsible for an astonishing 28 percent of all new business started in this country last year. As the number of new businesses started by native born individuals declines year after year, the number of immigrant-owned new businesses is continually on the rise. The report states that immigrant-owned businesses generated $775 billion in revenue last year, and employed one out of every ten employees of privately owned companies. This is all despite the fact that immigrants make up less than 13 percent of the total U.S. population.
Since it was founded in 2010, The Partnership for a New American Economy has published a series of groundbreaking and highly influential reports detailing the dramatic economic contributions to our national economy made by immigrants. Although the organization believes that it is important to fight undocumented immigration, the United States urgently requires pragmatic reforms to our nation’s immigration laws, which would enable business and industry to source the labor needed to make our nation competitive on the global economic stage.