California is where immigrants have biggest economic impact
February 14, 2017
• Leads in jobs generated by immigrant-owned businesses
• STEM workers have more impact in California
Since taking office, President Donald Trump has kept his promise to reform immigration policy. He first signed an executive order on Jan. 25 to begin constructing a concrete wall along the southern U.S. border with Mexico. Another directive followed two days later, temporarily barring entry of immigrants from seven countries and all refugees.
But such changes may affect not only international travelers but also state economies, although to varying degrees.
California’s economy, ranked sixth or seventh largest in the world if the state were its own nation, leads in several areas where foreign-born workers have an impact on the economy, according to an analysis by the personal-finance website WalletHub, a unit of Evolution Finance Inc., of Washington, D.C.
Immigrants’ Economic Impact on California
(1 = Biggest Impact; 25 = Average)
1st – Percent of jobs generated by immigrant-owned businesses out of total jobs
1st – Percent of foreign-born STEM workers out of total STEM (science, technology, engineering and math) workers
8th – Economic contribution of international students per capita
9th – Percent of jobs created by presence of international students out of total jobs
14th – Median household income of foreign-born population
15th – Percent of Fortune 500 companies founded by immigrants or their children
23rd – Net difference between state & local revenues and expenditures per individual immigrant
In order to determine which states benefit most from immigration, WalletHub says its analysts compared the 50 states and the District of Columbia across 18 key metrics, ranging from “median household income of foreign-born population” to “jobs generated by immigrant-owned businesses as a share of total jobs.”