The United States is undoubtedly a country filled with opportunity, prosperity, and diverse culture. Although America is one of the richest, most economically powerful countries in the world, it is important to recognize that without the generations of immigrants and non-immigrant foreign workers that have traveled from every corner of the globe, America’s innovative and continuously evolving economy would not exist. As young, talented, and highly educated foreign workers, inventors and entrepreneurs continue to bring their knowledge and insight to the United States, American businesses welcome the changes that will continue to make America the “economic engine of the world.”
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While those who oppose corporate immigration often challenge the positive impacts realized by America’s economy, in truth, a quick look at the history of the development of the United States as a whole and the facts surrounding the evolution of business in America are proof that corporate immigration is an asset from nearly every angle.
The Effects of Corporate Immigration in America
For more than 200 years, America’s tradition of welcoming foreign-born individuals from around the globe has resulted in a magnificently strong economy. As the evolution of the United States business world continues, the positive effects brought forth by corporate immigration are indisputable.
Job Creation, Advancement and Security
The effects of corporate immigration on the job market in America has been a topic of great controversy for many years. Abundant research demonstrates that corporate immigration offers opportunities for new employment, career advancement, higher wages, and job security for American workers, however. In fact, the Fiscal Policy Institute reports that in 2007, an estimated 4.7 million workers were employed by immigrant-owned small businesses and immigrant-owned businesses employ an estimated 10 percent of American workers who are employed by privately owned companies. Sadly, limits placed on corporate immigration by the United States government force many companies to pursue operations in other locations, costing America thousands, and potentially millions of jobs.
Strict limits on non-immigrant H-1B visas also challenge the expansion and even the lifespan of numerous American-owned businesses throughout the United States. Since an alarming number of companies are unable to obtain the highly educated, dynamic talent that they need because of the shortage of qualified professionals in America (the kind of individuals who work in STEM fields, for example) they are often forced to halt expansion or to base their businesses in other countries. When this happens, American jobs at all levels become affected.
Innovation is Vital to the American Economy
The presence of foreign-born inventors, scientists, engineers and entrepreneurs helps to ensure that America remains competitive in an ever-changing global economy. According to the United States Census Bureau, a whopping 33 percent of America’s engineers are foreign born. Immigrants also represent an impressive 27 percent of computer scientists, mathematicians and statisticians in the U.S., and 24 percent of America’s physical scientists.
Additionally, foreign-born inventors contribute to more than 75 percent of patents issued to the top ten patent-producing universities, and a full 79 percent of pharmaceutical patents were either invented or co-invented by immigrant scientists. Although only an eighth of America’s population are immigrants, a full quarter of Americans who have won Nobel Prizes were foreign-born.
The economic impact of start-up companies founded by immigrants is astounding, and robust immigration is obviously an underestimated resource for boosting America’s economy. The National Venture Capital Association reports that immigrants have been responsible for the startup of 25 percent of public companies in the United States that were backed by venture capital investors. A few of the more noteworthy on the list? Google, Yahoo!, Sun Microsystems, Intel, Instagram, and even eBay.
While America’s economy cries out for the much needed talent that is offered by international workers, a corporate immigration lawyer is often the only effective resource available to help American businesses and foreign-born individuals unite. Since America only approves 65,000 H-1B visas each year, and other types of business visas are limited and include their own specific guidelines, thousands of the world’s brightest and most talented individuals are forced to seek employment in other countries and offer their valuable contributions to America’s competitors.
Additionally, although numerous prestigious American universities provided the education and training that helped many of these immigrants become so in demand, their inexperience with current business immigration laws in America cause them to prematurely return to their home countries. Tragically, as a result many immigrants, American businesses, and the American economy as a whole are denied the opportunity to fully thrive.
Fortunately, an experienced corporate immigration lawyer is familiar with numerous alternative immigration solutions that can still enable foreign workers to bring their talents to America. Options that may be feasible include a variety of other non-immigrant employment based visas and immigrant employment based visas.