Immigrants DO Help the U.S. Economy

We, as Americans, are so quick to point out all the faults of our nation's immigrants, but are we as quick to understand the benefits they provide to our economy? I don't believe we are. Illegal immigration is something we hear about frequently in the media, however, immigrant entrepreneurs, we don't really hear about as all.

U.S. News and World Report published a story called "Immigrants: the Unsung Heroes of the U.S. Economy in the Feb. 26. 2007 issue. It was intriguing to understand the boost to our economy that immigrants provide. In fact, immigrants are starting businesses faster than native-born people. Many of these businesses are providing an added bonus. The immigrant-run businesses are revitalizing often neglected inner city neighborhoods.

The article tells us that Hispanics may spend more, especially for items that remind them of home. Hispanic food stores are ever popular, even more so because Hispanics tend to cook more generous portions in case a family member would stop over.

The statistics tell us that in 2005, immigrants started 22 of LA's 100 fastest growing companies, according to the Center for an Urban Future. In New York, immigrants have started many businesses as well. In fact, the Flushing neighborhood in Queens has many, many new businesses because it is such an immigrant magnet.

All in all immigrant-owned businesses grew 54.6%. Hispanic-owned businesses by 2010 will grow from 3.2 million from just 2 million. They will also have generated $465 billion in goods and services. Many immigrants become self-employed because it is one of the only ways to crack the economic system in this country. They may lack the language or cultural skills to move up the career ladder in other ways.

So, next time you are sitting next to someone who is endlessly complaining about immigrants and how they take our jobs away, remind him/her of this article. Immigrants contribute immensely to our society as a whole, both culturally and economically. They tend to be very-hardworking and want to find ways to make a good living. Entrepreneurship seems to be one of those ways.

From a U.S. News and World Report article entitled "Immigrants: The Unsung Heroes of the U.S. Economy" Feb. 26, 2007