Foreign-born households in Denver generate $6.9 billion in spending power, contribute more than $1 billion to Social Security and Medicare
Denver, CO – This Wednesday, business, government, and community leaders will gather for “Growth in the New West: Maximizing Immigrant Contributions to Denver’s Prosperity,” an event convened by Americas Society/Council of the Americas (AS/COA) and New American Economy (NAE) in partnership with the Office of Mayor Michael B. Hancock and the Denver Metro Chamber of Commerce. Speakers will discuss how immigrants have contributed to the growth and vitality of the metro area, and how the city can work across sectors to bolster its competitive edge by attracting and integrating international communities. In conjunction with the event, PNAE, AS/COA, and the Denver Metro Chamber of Commerce released a report on the economic and demographic role of Denver’s immigrant population.
“Denver provides yet another example of a great American city that enjoys the dynamism immigrants bring to local industries and communities,” said John Feinblatt, Chairman of New American Economy. “This research shows how immigrants play important roles in the region’s largest industries, strengthen the local tax base, and start businesses that create additional jobs in the metro area and across Colorado.”
“Diversity and inclusion are essential for strong regional economic growth, and this new research puts that into real terms,” said Kelly Brough, CEO of the Denver Metro Chamber of Commerce. “Immigrants in the Denver region are contributing their ideas, talents, and skills to our community and making Denver a more exciting and vibrant place for all of our residents.”
“Immigration has become a political football in the presidential campaign, but the facts clearly show it’s great for our country,” said Brian Winter, Vice President of Policy at Americas Society/Council of the Americas. “We must continue to highlight the contributions of the millions of immigrants who make our cities stronger and help our economies grow.”
The report, “New Americans in Denver,” finds:
- Foreign-born households account for more than $6.9 billion in spending power and contribute more than $673 million in taxes to state and local budgets.
- In 2013, immigrants in the Denver metro area contributed more than $1 billion to Social Security and more than $256 million to Medicare.
- Between 2010 and 2013, the foreign-born population of Denver’s metropolitan area accounted for 17.5 percent of total population growth.
- More than one in four professional, scientific, or technical service workers in Denver are foreign-born.
- Foreign-born workers make up large shares of the workforce in Denver’s construction (28.6 percent), automotive (22.5 percent), and accommodation and food service (19.8 percent) industries.
- Immigrants are active in providing healthcare services to the region, making up 12 percent of industry workers.
- In 2010, 4,427 manufacturing jobs were preserved or created in Denver County due to the influx of immigrants.