Under the Trump Administration, immigration and the proper solution for managing it continue to be a hot button issue. President Trump wants to build a wall on the U.S.-Mexican border to prevent individuals from coming to the states illegally. The President even partially shut down the government (for the longest time in history) in an effort to come to an agreement on building it; many disagree with Trump’s wishes. However, regardless of political affiliation, it cannot be denied that immigration has an effect on the U.S. economy.
Economic Impact of Foreign-Born Populations
In a new study by the website WalletHub, New Jersey ranked number three in states where immigration has the most positive economic impact only behind California and New York. It compared the economic impact of foreign-born populations of all 50 states and the District of Columbia. The study looked at four different factors. They included:
- Brain gain and innovators;
- Immigrant workforce;
- International students; and
- Socioeconomic contribution.
Overall Scores and the “Most Positive Economic Impact”
The study also determined which states most benefitted from immigration using 20 key metrics for each of the above. Each metric was graded on a scale of 0-100, with 100 representing the “most positive economic impact.” In order to calculate each state’s overall score, the study used each state and District’s weighted average across all metrics. A total of thirty points was possible for socioeconomic contribution, brain gain & innovators, and immigrant workforce each, while a total of 10 points was possible for international students.
Highest Percentage of Foreign-Born STEM Workers Out of Total STEM Workers
New Jersey ranked number one in “Workforce” Rank, number three for both “Socioeconomic Contribution” Rank, and “Brain Gain and Innovation” Rank and number 23 for “International Students” Rank. The state had a total score of 70.56. Out of total jobs, New Jersey had the second highest percentage of jobs generated by immigrant-owned businesses, the fourth highest median household income of foreign-born population, and tied for number one for the highest percentage of foreign-born STEM workers out of total STEM workers.
New Jersey Department of Economics Chair, Tom Prusa, believes that immigrants play a large part in the state’s economy. “The fact that New Jersey is viewed as a very desirable place for immigrants to come is a reflection of the quality and open-mindedness of the people of New Jersey and the businesses that are here,” he explained.
The lowest-ranking states for positive economic impact from immigration were Idaho, Mississippi, Montana, South Dakota, and Wyoming.
The Law Office of Michele Alcalde Can Help
If you or a loved one is dealing with any immigration issues, it is so important that you report accurate information. It may be in your best interest to hire a knowledgeable and experienced immigration attorney who understands the many facets of the law and can help you to legally achieve your goals. At the Law Office of Michele Alcalde, we work hard with clients to get them the best outcome that we can. To learn more or to schedule a free consultation, visit us online or call us at 732-766-1407 today!
Posted in: Immigration