WASHINGTON, June 25, 2013 – The United States Hispanic Chamber of Commerce (USHCC) partnered with The George W. Bush Institute to release “Growth and Immigration: A Handbook of Vital Immigration and Economic Growth Statistics.” The book, containing an in-depth analysis of the correlation between immigration and economic growth, was launched earlier today at the National Press Club in Washington, DC.
“Throughout the current immigration debate, the USHCC has asked Americans to understand that comprehensive immigration reform is an economic imperative for our country. Our nation’s immigrants contribute greatly to America’s prosperity and allow us to remain competitive in a globalized economy,” said USHCC President & CEO Javier Palomarez. “The USHCC urges Congress to consider the facts presented by the George W. Bush Institute’s research. Our nation’s business community needs members of both parties to display the political courage to reach a bipartisan solution that fixes our current immigration system.”
Last week, the Congressional Budget Office released a report stating that comprehensive immigration reform would reduce the federal deficit by $200 billion over the next 10 years, and produce a cumulative deficit reduction of nearly $1 trillion dollars in two decades.
“At the George W. Bush Institute we believe economic growth should be at the forefront of the national conversation. The evidence shows that immigration is one of the most promising ways to achieve faster growth. As Americans debate immigration reform, it is important they understand the economic facts of the issue. The Bush Institute is proud to partner with the U.S. Hispanic Chamber of Commerce to release this important book which highlights the facts and shows that immigrants are a solution for faster economic growth,” said Ambassador Jim Glassman, Executive Director of the George W. Bush Institute.
Key findings in the book include:
- 40% of Fortune 500 companies were founded by an immigrant or the child of an immigrant
- Immigrants are more likely to be employed: 60.7% of foreign-born workers, age 16 or older, are employed
- Immigrants make up a substantial portion of the U.S. labor force: foreign-born workers account for 16% of the U.S. labor force, but only 13% of the population
- Immigrants are disproportionately responsible for U.S. international patent applications: in 2006, immigrants accounted for 24.2% of U.S. international patent applications
Matthew Denhart, author and research fellow of the George W. Bush Institute stated: “Faster economic growth is the surest way to increase prosperity and create opportunity. It is important that Americans recognize that immigrants are one of the main solutions for faster growth. Pro-growth immigration reform would benefit immigrants and Americans alike.”