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Immigrant Entrepreneurs & Innovators

Why New Immigration Law Is Key to Creating American Jobs

Richard Herman

Greater Raleigh Chamber of Commerce March 12, 2012

Rust Belt (my home) Is Hemorrhaging Jobs & People


MICHIGAN

OHIO

Over last 10 years, lost 790,000 jobs

Over last 10 years, lost 525,000 jobs

Detroit: over last 60 years, lost 50% of population (1.8 million to 900,000) Percentage of immigrants dropped from 30% to 10%

Cleveland: over last 60 years, lost 60% of population (950,000 to 396,000) (17% in 10 yrs) Percentage of immigrants dropped from 30% to 5%

In 2011, with the Rust Belt & U.S. economy stuck in first gear, its time we remember..how to drive the economy ..FAST

we welcome the job-creators

When it comes to job growth, STARTUP companies arent everything.. theyre the ONLY THING!

STARTUPS: New employment paradigm

ALL net job creation in America over last 25 years comes from STARTUPS --creating 40 million new jobs New Firms add an average of 3 million jobs in first year Older companies lost 1 million jobs annually

--- Kauffman Foundation

So WHO are behind the startups in America?

USA: Immigrants Driving the New Economy & Urban Revitalization


*

Immigrants twice as likely as native-born to start a business; * Immigrants founded more than 50% of the high-tech companies in Silicon Valley; * Immigrants are more likely to earn an advanced degree, invent something, and be awarded a U.S. patent;

Immigrant-Founded Companies

Compiled by Richard Herman, www.ImmigrantInc.com

Immigrants Start Companies & Create Jobs


* 40% of Fortune 500 companies were founded by an immigrant or child of an immigrant These companies employ 10 million people worldwide, and generate $4,200,000,000,000 in revenue per year
2011 study by Partnership for a New American Economy

7 of 10 most valuable brands in the world were created by U.S. immigrants or children of U.S. immigrants
Ford GE AT&T Boeing Disney Apple Hertz Pfizer Google Budweiser McDonalds IBM Kraft Procter & Gamble Levis Bank of America Intel Home Depot U.S. Steel Dow UPS Estee Lauder DuPont Heinz

The venture capitalists know a deal when they see one


* * *

25 % O F A L L P U B L I C , V E N T U R E - B A C K E D F I R M S I N U . S . F O U N D E D B Y I M M I G R A N T S A D D H I G H T E C H L A B E L , P E R C E N TA G E I N C R E A S E S T O 4 0 % M A R K E T C A P O F $ 5 0 0 B I L L I O N - - - P U B L I C , V E N T U R E B A C K E D I M M I G R A N T C O M PA N I E S

To immigrate is an entrepreneurial act


--Ed Roberts, Founder MIT Entrepreneurship Center

Immigrants Are Driving U.S. Innovation


* Immigrants filing patents at twice rate of Americanborn. Immigrant patent filings: 72% Qualcomm, 65% Merck, 64% GE, 60% Cisco

Immigrants Can Drive Exports

Research in Sweden demonstrates that a 10

percent increase in immigrant population was linked to a 6 percent increase in bilateral trade with the immigrants home country.

Intl Students Who Stay = Jobs for U.S.

For every 100 international students who stay after earning U.S. advanced degrees in science, technology, engineering or math a CREATE 262 JOBS IN AMERICA
2011 Study by American Enterprise Institute & Partnership for New American Economy:

Foreign Students in North Carolina, National Rank and Economic Impact


Rank in US FOREIGN STUDENTS IN NORTH CAROLINA #17 Total 12,824 (up 4.2%) ESTIMATED FOREIGN STUDENTS EXPENDITURE IN NORTH CAROLINA (in millions of dollars) $304

Percent of Foreign Students in STEM Fields of Study: 36.1% Percent of U.S. Undergraduate Students in STEM Fields of Study: 13.7% N. Carolina Institutions with the Highest Number of Foreign Students
InsLtuLon City North Carolina State University Raleigh Duke University & Med Center Durham University of N. Carolina Chapel Hill University of N. Carolina CharloKe Total 3,235 2,485 1,674 1,300

Immigrants have created millions of jobs for Americans, and will create millions more. if we let them --- in advanced manufacturing, clean energy, biotech, advanced materials, exports.

Can Immigrants Help Save the Rust Belt & U.S. Economy?

But. Isnt Immigrant a Dirty Word?

Immigration and Crime FACTS

San Diego, Phoenix, El Paso, and Austin


Immigrant Incarceration Rates are one-fth

the incarceration rates of people born in the U.S.

Immigrants largely compliment, not displace, American-born workforce. Immigrant workers usually work in high-skilled or lower skilled jobs, where U.S. has a shortage of workers.

Today, there are about 3 million unfilled jobs in America

We dont talk about immigrants as the DreamKeepers, the Job-Creators, the Bedrock of FamilyValues, the ENGINE that makes America work!

A New Local/National Movement: Welcoming Immigrants to Spur Economic Growth


Chicago Mayors Office for New Americans

Global Philly

U.S. Immigration & Its Job-Creation Capacity:

BROKEN

Immigration Policy Is Not Aligned with Nations Economic Development Needs

Discriminate Against Highly Skilled. Of 1 Million Green Cards issued per year, only 4-5% or given to highly skilled (advanced degreed) or investor immigrants Malawi = India (nationality quotas: each country allocated 7% of employment based green cards per year, regardless of their nations population)

These quotas are nearly 60 years old ----- they have no relationship with the needs of Americas New Economy

Skilled immigrants, many of whom want to start their own company in the U.S., have to wait up to 8 years for a Green Card

We treat them like DIRT, instead of the GOLDENJOB-CREATORS!

This is what NYC Mayor Bloomberg calls:

National Suicide.

And not just PhD immigrants ----- all hardworking immigrants with a dream. Its all connected.

$1.5 trillion added to GDP in next 10 years

.If we legalize the 11 million undocumented persons in U.S.


Study at UCLA, 2010

The richest regions are those with the highest proportion of immigrants.
Presidents Commission on Immigration, 1953

Want to Win? Build the most powerful teams on the planet (just like NBA)

The Staple Act

The Dream Act

Fairness for High-Skilled Immigrants Act


U.S. HOUSE OF REPRESENTATIVES PASSED BILL 389 TO 15 NOVEMBER 29, 2011

Republican-Sponsored Bill: BRAIN Act

U.S. Rep. Tim Griffin, Arkansas (R)

* Immigration Enforcement is not the top-tier, hot button issue

Poll of Likely Iowa Republican Caucus Members

* 72% are open to allowing intl students educated in U.S. to enter workforce after graduation * 64% open to streamlining process for employers to hire unfilled seasonal and permanent jobs * 71% open to increasing opportunities for foreign entrepreneurs move to U.S. to start a new business

Frank Luntz
pollster & author What Americans Really Want

We all agree that current immigration system is broken Tall Fences, Wide Gates

Talent is the New Oil. Drill, Baby, Drill!

World Is Flat Guy, Tom Friedman


Pour into the America the most diverse, smart and energetic immigrants from every corner of the world and the stir and repeat, stir and repeat, stir and repeat.

We Are All Immigrants

Key to Success: think like an immigrant


Omid Kordestani

Want Jobs?
Tap the Immigrant Dividend Welcome the Job-Creators by Reforming Immigration Law & Changing Perceptions

For More Info: www.ImmigrantInc.com

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