Webinar agenda Welcoming Economies: Immigrants are key to Inclusive Economic Growth 1) Presentation by Steve Tobocman, Director, Global Detroit 2) Interview by Sarah Wayland, Project Lead, Global Hamilton at the City of Hamilton in Conversation with Steve Tobocman 3) Q&A moderated by Kim Turner, Cities of Migration, Global Diversity Exchange (Toronto, Canada) This webinar is co-hosted by Cities of Migration and Welcoming America as part of a Welcoming Economies webinar series. Webinar recording will be available on the website: www.citiesofmigration.ca
WELCOMING ECONOMIES: REVITALIZING REGIONAL ECONOMIES THROUGH IMMIGRANT ATTRACTION AND RETENTION STEVE TOBOCMAN DIRECTOR, GLOBAL DETROIT CO-CHAIR, WE GLOBAL NETWORK CITIES OF MIGRATION WEBINAR MAY 22, 2015
IMMIGRANTS AND THE RUST BELT GROWTH OF IMMIGRANT ECONOMIC DEVELOPMENT INITIATIVES
PARADIGM SHIFT IMMIGRANT ECONOMIC TRADITIONAL IMMIGRANT RIGHTS DEVELOPMENT AND INTEGRATION SERVICES • Immigrants as Assets • Social Justice Imperative • Equally Concerned about Receiving • Focused on Helping “The Least of Communities These” • Regional Competitiveness • Civil Rights • Urban Revitalization • Social Services
WE GLOBAL NETWORK CORE VALUES 1. Immigrant communities are assets to be nurtured and grown as a means of producing economic opportunity for the entire region. 2. Welcoming immigrants into the economic and social fabric of a region helps to make that region more economically competitive and more attractive socially. 3. Regional economic development initiatives can play a role not just in attracting immigrants, but also in retaining them and in enhancing their role in the community’s economic and social fabric.
Economic integration of our immigrant and refugee communities is not only a matter of social justice and a reflection of our national compassion to newcomers, but it is a key pillar of economic prosperity for all Americans. America’s economic future and the prosperity of American families are significantly improved by the presence and contributions of immigrants and refugees and the successful integration of their contributions .
IMMIGRANT ECONOMIC DEVELOPMENT MAKING THE CASE
THE ‘NEW AMERICAN’ FORTUNE 500: MORE THAN 40% OF FORTUNE 500 COMPANIES WERE FOUNDED BY IMMIGRANTS OR THEIR CHILDREN 23% FOUNDED BY CHILDREN OF IMMIGRANTS 18% FOUNDED BY IMMIGRANTS “NEW AMERICAN” 41% COMPANIES SOURCE: Partnership Report, “ The New American Fortune 500, ” June 2011.
COMPANIES FOUNDED BY NEW AMERICANS EMPLOY MORE THAN 10 MILLION PEOPLE WORLDWIDE SOURCE: Partnership Report, “ The New American Fortune 500, ” June 2011.
28% OF SMALL BUSINESSES STARTED IN 2011 WERE FOUNDED BY IMMIGRANTS current population survey (1996-2011) 35% 30% 25% 20% 15% 10% 1996 1998 2000 2002 2004 2006 2008 2010 SOURCE: Partnership Reports, “Open for Business: How Immigrants are Driving Small Business Creation in the US” (2012)
Immigrants Comprised almost All Net Main Street Business Growth 2000-2013
IMMIGRANTS ACCOUNT FOR HIGHER PERCENTAGE OF HIGH-EXPORT COMPANIES SPECIAL TABULATIONS FROM THE SURVEY OF BUSINESS OWNERS (2007) PERCENT OF TOTAL SALES PERCENT OF FIRMS THAT ARE EXPORTED OUTSIDE OF THE OWNED BY IMMIGRANTS U.S NONE 12.7% LESS THAN 1% 11.1% 1% TO 4% 14.7% 5% TO 9% 17.1% 10% TO 19% 20.2% 20% TO 49% 35.1% 50% TO 99% 50.5% SOURCE: Partnership Reports, “Open for Business: How Immigrants are Driving Small Business Creation in the US” (2012)
IMMIGRANTS CRITICAL TO AMERICA ’S HIGH-TECH STARTUP COMMUNITY U.S. States Where Immigrants are Founding Engineering and Technology 50 Percentage of Companies Companies with Immigrant Founders 45 40 35 30 25 20 15 10 5 0 TX GA MD IL NJ SOURCE: Kauffman Foundation
HIGH-TECH STARTUPS Created 25% of all high-tech firms nationally from 1995-2005 – 52% of Silicon Valley’s high -tech firms from 1995-2005 – 32.8% of Michigan’s high -tech firms (ranking Michigan #3 after CA and NJ and making them six times as likely to create a high-tech firm) --Duke University and UC-Berkeley
SUCCESSFUL VENTURE CAPITAL BACKED FIRMS Account for 25% of all venture-backed firms that have had public offerings 1995-2005 National Venture Capital Association
STEM SKILLS AND DEGREES • International students are 3 times (38% vs. 14%) as likely to major in STEM fields • Immigrants make up: – 50% of all new U.S. Ph.D.s in engineering; – 45% of all new U.S. Ph.D.s in life sciences, physical sciences, and computer sciences; – 40% of all new U.S. master degrees in computer sciences, physical sciences, and engineering; and – 25% of all practicing physicians
THE MEDIAN AGE OF THE U.S. WORKFORCE IS CLIMBING 42 42 41 41 39 39 37 35 36 34 35 32 1978 1998 2018 (Projected) SOURCE: US Bureau of Labor Statistics
THE RATIO OF SENIORS TO WORKERS IS SKYROCKETING Number of Seniors Per 100 Working Adults SOURCE: US Bureau of Labor Statistics
IMMIGRANTS ARE MORE LIKELY TO BE WORKING AGE U.S.-Born New Immigrants, 2000-2010 90% 77% 84% 64% 65% 51% 39% 26% 23% 13% 13% 13% 3% 0% Under 15 15 to 64 65 and Older SOURCE: US Census 2012 Statistical Abstract
MARCH 2015 Steve Tobocman of the nonprofit Global Detroit calls increased immigration “the single great urban revitalization strategy in modern day America.” And, he notes, “it’s one that doesn’t cost tax dollars.” Little wonder that in immigration, as in so many areas of public policy, real change is being forced beyond the halls of Congress.
IMMIGRANT ECONOMIC DEVELOPMENT INITIATIVES WHAT DO THEY DO
POTENTIAL ECONOMIC DEVELOPMENT INITIATIVES • International Student Retention • Workforce Development • Entrepreneurship • Foreign Direct Investment and Export • Building Welcoming Communities • Connector Programs • Integration Services • Skilled Immigrant Integration
ENTREPRENEURSHIP
INTERNATIONAL STUDENT RETENTION International students are 3 times (38.4% vs. 13.7%) as likely to major in science, technology, engineering, and math (STEM) fields Immigrants make up: • 50% of all new U.S. Ph.D.s in engineering; • 45% of all new U.S. Ph.D.s in life sciences, physical sciences, and computer sciences; • 40% of all new U.S. master degrees in computer sciences, physical sciences, and engineering; and • 25% of all practicing physicians
MICHIGAN GLOBAL TALENT RETENTION INITIATIVE (WWW.MIGTRI.ORG) !
Ohio board of regents Post-secondary globalization initiative
IMMIGRANTS CREATE JOBS FOR U.S. WORKERS Every Foreign STEM Worker With an Advanced U.S. Degree Creates 2.62 American Jobs Source: Partnership and American Enterprise Institute Report, “Immigration and American Jobs,” December 2012.
IMMIGRANT ECONOMIC DEVELOPMENT INITIATIVES COMMUNITIES FOCUSED ON ATTRACTION AND RETENTION
Creating Prosperity “The richest regions are those with the highest proportion of immigrants.” -- President’s Commission on Immigration, 1953
“To immigrate is an entrepreneurial act” --Ed Roberts, Founder MIT Entrepreneurship Center
A Global America: Securing 21 st Century America “ Dear America, please remember how you got to be the wealthiest country in history. …the formula was very simple: build this really flexible, really open economy, tolerate creative destruction so dead capital is quickly redeployed to better ideas and companies, Pour into it the most diverse, smart and energetic immigrants from every corner of the world and then stir and repeat, stir and repeat, stir and repeat.” Tom Friedman – “World Is Flat” Guy New York Times Editorial Writer and Author
www.globaldetroit.com @GlobalDET www.WEGlobalNetwork.org @WENetworkGlobal
Acknowledgments Welcoming Economies: Immigrants are key to Inclusive Economic Growth • Steve Tobocman, Global Detroit (Detroit, United States) • Sarah Wayland,, Global Hamilton at the City of Hamilton (Hamilton, Canada) • Rachel Peric, Welcoming America (Atlanta, United States) • Kim Turner, Cities of Migration, Global Diversity Exchange (Toronto, Canada) www.citiesofmigration.ca
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