Study: Immigrants Create Small Business Boom
NEW YORK - Kauffman Study finds that immigrants now represent 29.5 percent of new entrepreneurs in 2010, compared to 13.4 percent in 1996
Statement of Michael Bloomberg, Mayor of New York City, and Partnership Co-Chair:
“For generations, immigrants have founded businesses that are both the cornerstones of our national economy and the corner stores of our local neighborhoods. This study is one more reminder that when you move past the political rhetoric, the facts are clear - immigrants are a tremendous source of innovation and enterprise. If we are serious about fixing our economy and creating jobs, then we must fix our broken immigration system.”
Statement of Antonio Villaraigosa, Mayor of Los Angeles, and Partnership Co-Chair:
“Immigrant entrepreneurship has been an engine of economic growth for Los Angeles. Immigrants have played a vital role across our vast city and across the many sectors of our economy. From fashion retailer Forever 21 to national food chains such as El Pollo Loco and Panda Express, immigrants are creating businesses and jobs for all Americans. This is another telling reminder that we should be doing more to welcome and support immigrants who play a crucial role in America’s economy.”
Statement of Brad Feld, Managing Director of Foundry Group and Partnership Member:
“As a venture capitalist, I am always looking for the best ideas and best talent to invest in and create new companies, new jobs, new American opportunities. Every day I meet talented immigrants who have good ideas and the talent to make them into profitable companies, only to learn there is no way for them to stay here and start their new company. Clearly, the time has come for a new visa for our immigrant entrepreneurs.”
About the Partnership
The Partnership for a New American Economy brings together a bipartisan group of over 150 business leaders from all sectors of the economy and mayors from all parts of the country to make the economic case for immigration reform.
The Partnership believes that to compete in the 21st-century global economy, America needs an immigration system that secures our borders and attracts and keeps the best, brightest and hardest working from around the world. The Partnership believes that to keep the American economy the most competitive in the world, Washington needs to develop a smarter immigration strategy.
The Partnership’s Co-Chairs are Steven A. Ballmer, CEO of Microsoft Corporation; Robert Iger, President and CEO, Walt Disney Co.; J.W. Marriott, Jr., Chairman and CEO of Marriott International, Inc.; Jim McNerney, Chairman, President and CEO of Boeing; Rupert Murdoch, Chairman, CEO and Founder of News Corporation; Mayor Michael R. Bloomberg of New York; Mayor Julián Castro of San Antonio; Mayor Phil Gordon of Phoenix; Mayor Michael Nutter of Philadelphia; and Mayor Antonio Villaraigosa of Los Angeles.
