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Immigrants Create Jobs For All Americans | Chicago Immigration Attorney Mario Godoy

Immigrants Create Jobs For All Americans

New research from the Kellogg School of Management says immigrants create more jobs than they take. IMMIGRATION AND ENTREPRENEURSHIP IN THE UNITED STATES authors Pierre Azoulay, Benjamin Jones, J. Daniel Kim and Javier Miranda found that immigrants act more as “job creators” than “job takers” and that non-U.S. born founders play outsized roles in U.S. high-growth entrepreneurship.

“Immigration can expand labor supply and create greater competition for native-born workers. But immigrants may also start new firms, expanding labor demand.”

Facts On Immigrant Entrepreneurs

The study found that immigrants are more likely to create a business than native-born Americans:

• 0.83% of immigrants in the workforce created a business between 2005 and 2010 v 0.46% of native-born Americans in the workforce created a business between 2005 and 2010

• immigrants represent about 14% of the U.S. workforce but account for closer to one-quarter of U.S. patents

• firms with an immigrant founder are 35% more likely to have a patent than firms with no immigrant founders

• workers in immigrant-founded firms receive 4.1% higher wages on average

U.S. immigration policy has continued to overlook the contribution of immigrant-launched businesses.

The EB-5 Immigrant Investor Program?

EB-5 immigrant investor visas offer priority processing of a permanent resident status with no work requirement. The EB-5 visa program allows foreign nationals to invest in United States businesses under the following qualifications:

• invest $1.8 million for standard investments and from $500,000 to $1 million for investments in a targeted employment area (TEA)

• create or preserve 10 full-time jobs for qualified United States workers within 2 years

The Trump administration has made changes to limit legal immigration for skilled temporary foreign workers by restricting H-1B visa rules in 2020 and 2019:

• Tighten H-1B eligibility and impose new obligations on the companies trying to bring foreign workers to fill American job openings

• New H-1B Visa Filing Fee

• USCIS Implements New Process for 2021 H-1B Lottery

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Are You a Foreign Entrepreneur or Investor Who Wants to Move to Chicago?

Chicago Business Immigration Attorney

Do you have questions about visas for investors and entrepreneurs? Contact Godoy Law Office today at 855-554-6369 to answer your questions about immigration, help you file an immigration application and guide you through every step of the immigration process. 

AREAS WE SERVE: Godoy Law Office serves the entire Chicago, Illinois area including DuPage, Cook, Kane, Will, and Lake Counties

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