The business of immigration: America’s push to stay aheadPublished: Tuesday, December 27, 2011 9:00 am
December 27, 2011. The White House has announced a new initiative to reduce barriers and accelerate growth for America’s job-creating entrepreneurs. Called “Startup America”, the initiative aims at continuing to harvest entrepreneurial talent and ensure that the U.S. remains a leader in the global investment economy.
A 2008 report from the Small Business Administration’s Office of Advocacy found that immigrants made up 12.2% of the total U.S. workforce and owned 10.8% of all businesses with employees. 11.6% of all business income in the U.S. was generated by immigrant business income. The study also showed that immigrants are nearly 30% more likely to start a business than are non-immigrants. Accordingly, Startup America has an immigrant law component which, if passed, would ease some current restrictions on those highly-educated high-tech immigrants who are most likely to be innovators.
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