The Impact of Immigrant Innovators

"The Wall Street Journal is carrying a report on immigrant innovators and entrepreneurs. According to the piece, nearly a quarter of all California startups which went into business between 1995 and 2005 had an immigrant as a founding member. These businesses, together, employ almost half a million workers and generated about $50 billion in sales in the year 2005. The study seems quite topical, given recent discussions in the U.S. capital. From the article: 'Supporters of an immigration bill are likely to use the study to argue the importance of foreign-born workers to the U.S. economy. An immigration bill passed by the last Congress and heavily lobbied by business groups would have greatly increased the number of green cards available to skilled workers. Business has long argued that the U.S. schools aren't turning out enough scientists, mathematicians and engineers, and that the economy will lose its competitive edge without more skilled foreign workers.'"
Source: slashdot.org