Blog & Updates
Four Quick Reasons Businesses Support Immigration Reform
May 06, 2013 - Posted by Mario Moreno
It’s good for businesses and innovation
Big and small businesses depend on immigrants as producers, consumers, workers and entrepreneurs. Studies show that legal and undocumented immigrants have a positive overall economic effect on the U.S. economy—to cite just one example, 40 percent of Fortune 500 companies were started by immigrants or their children.
It will boost our economy
A Center for American Progress study reports that providing legal status and citizenship to the 11 million undocumented immigrants would prompt a major boost to the U.S. economy over the next 10 years; an estimated $832 billion cumulative increase in GDP. DREAMers alone could add $329 billion to the economy by 2030.
They provide much needed skills and expertise to the economy
In both high and low-skill fields, immigrants bring skill sets that our economy needs. In STEM fields requiring an advanced degree, 230,000 jobs will not be filled by 2018 even if every U.S. STEM graduate finds a job. In fields like construction, which is expected to add 1.8 million jobs by 2020, nearly 60 percent of Latino immigrant construction workers arrived to the U.S. ready to contribute right away thanks to a deep knowledge of the field they had previously acquired.
We need the labor
It’s expected that the U.S. will need to add 25 million workers to the labor force by 2030 to maintain current levels of economic growth. With 76 million baby boomers retiring soon—and only 46 million U.S. born workers entering the workforce by 2030—immigrant labor is necessary to keep the economy growing and support our retirees.