The United States is a nation of immigrants. And almost since the country’s formation, immigration has been debated in the halls of congress and around the family dinner table.
Even though it continues to be a hot-button issue in America, both sides can acknowledge the impact of immigration on the U.S. economy.
Increased economic output and entrepreneurial growth
Immigrants make up more than a third of the workforce in the agriculture, construction and hospitality industries. They fill many roles that would have otherwise gone unfilled by citizens, which has helped create a more diverse and productive workforce and economic growth.
The money they earn goes back into the economy with the goods and services they buy. They also pay government taxes to fund government programs such as Social Security and Medicare. In addition, their tax money helps build schools, hospitals and other community resources.
Furthermore, immigrants bring their expertise and skills to the areas they settle into. They often create businesses that serve their communities and foster economic development. They bring diversity to a place that not only provides an influx of culture but can also revitalize a local economy. In fact, immigrants founded more than half the start-up companies in the U.S. and 64% of the billion-dollar companies.
The role of immigrants in the U.S. economy cannot be overstated. By denying work visas and a path to citizenship, the U.S. economy risks losing a significant source of innovation, entrepreneurship, and a labor force that is crucial for its growth and sustainability.