A Report by The Partnership for a New American Economy & The Partnership for New York City
For the past two centuries, immigrants coming to America in search of a better life for themselves and their families have fueled the growth and expansion of the US economy. Today, more than 40 percent of America’s Fortune 500 companies were founded by an immigrant or a child of an immigrant. However, US immigration laws have failed to keep pace with the country’s changing economic needs. Artificially low limits on the number of visas and serious bureaucratic obstacles prevent employers from hiring the people they need – and drive entrepreneurs to other countries, who are quick to welcome them. This report sets out to demonstrate what America must do to win the global race for the skills we need. It compares America’s immigration policies with those of other nations – and finds our policies irrational and undirected, in sharp contrast with the targeted, strategic approaches seen elsewhere.