United States immigration policy has sparked intense debate, yet a key point is often overlooked: immigrant entrepreneurs and technical talent are instrumental in fueling economic prosperity and creating job opportunities.
The prosperity of the U.S. high-tech economy is largely due to a large number of highly educated foreign immigrants. Many of the brightest minds and cutting-edge innovators from around the world come to the United States to pursue advanced studies and start businesses, and subsequently remain in the country. For example, in 2007, 62% of individuals born in other countries who earned science or engineering doctorates in the United States remained in the country for at least five years after completing their studies. This rate was as high as 90% for Chinese students and over 80% for Indian students.
From semiconductors to biotechnology, the extent to which cutting-edge U.S. companies rely on immigrant scientists, engineers, and entrepreneurs to maintain their competitiveness is staggering. For instance, between 1995 and 2005, one-quarter of engineering and technology companies founded in the United States had at least one immigrant founder. In Silicon Valley, 52% of new companies established during this period were founded by immigrants. Furthermore, 24% of international patent applications filed in the United States in 2006 were invented or co-invented by foreigners residing in the United States. The influx of high-level technical talent from various countries has also been extremely helpful in promoting U.S. exports.
It is not only highly educated foreigners who possess entrepreneurial capabilities; from corner grocery stores to local construction firms, immigrants bring numerous job opportunities to communities across the United States and revitalize declining neighborhoods.
