Richard Herman's Presentation at Raleigh Chamber of Commerce, titled "Immigrant Entrepreneurs and Innovators"

Immigrant Entrepreneurs
&
Innovators
Why New Immigration
Law Is Key to Creating
American Jobs

Richard Herman Greater Raleigh Chamber of Commerce
March 12, 2012

Rust Belt (my home) Is Hemorrhaging
Jobs & People
—  MICHIGAN —  OHIO

¡  Over last 10 years, lost ¡  Over last 10 years, lost
¡  790,000 jobs 525,000 jobs

¡  Detroit: over last 60 ¡  Cleveland: over last 60
years, lost 50% of years, lost 60% of
population (1.8 million population (950,000 to
to 900,000) 396,000) (17% in 10 yrs)

¡  Percentage of ¡  Percentage of
immigrants dropped immigrants dropped
from 30% to 10% from 30% to 5%

In 2011, with the Rust Belt &
U.S. economy stuck in first
gear, it’s time we
remember……..how to drive
the economy …..FAST

When it comes to job
growth, STARTUP
companies aren’t
everything……..
they’re the ONLY
THING!

STARTUPS:
New employment paradigm

•  ALL net job creation in America over last
25 years comes from STARTUPS ---
creating 40 million new jobs

•  New Firms add an average of 3 million
jobs in first year

•  Older companies lost 1 million jobs
annually
•  --- Kauffman Foundation

So WHO are
behind the
startups in
America?

USA: Immigrants Driving the
New Economy
&
Urban Revitalization

¡ * Immigrants twice as likely as native-born
¡  to start a business;
¡  * Immigrants founded more than 50% of the
high-tech companies in Silicon Valley;
¡  * Immigrants are more likely to earn an
advanced degree, invent something,
and be awarded a U.S. patent;

Immigrant-Founded Companies

— 
— 

Compiled by Richard Herman, www.ImmigrantInc.com

Immigrants Start
Companies & Create Jobs

* 40% of Fortune 500 companies were
founded by an immigrant or child of
an immigrant
* These companies employ 10 million
people worldwide, and generate
$4,200,000,000,000 in revenue per year
2011 study by Partnership for a New American Economy

7 of 10 most valuable brands in the
world were created by U.S. immigrants
or children of U.S. immigrants

Ford Google Intel
GE Budweiser Home Depot
AT&T McDonald’s U.S. Steel
Boeing IBM Dow
Disney Kraft UPS
Apple Procter & Gamble Estee Lauder
Hertz Levi’s DuPont
Pfizer Bank of America Heinz

The venture capitalists know a
deal when they see one

*
25 %
O F
A L L
P U B L I C ,
V E N T U R E -‐

B A C K E D
F I R M S
I N
U . S .
F O U N D E D
B Y

I M M I G R A N T S

*
A D D
H I G H
T E C H
L A B E L ,
P E R C E N TA G E

I N C R E A S E S
T O
4 0 %

*
M A R K E T
C A P
O F
$ 5 0 0
B I L L I O N
-‐ -‐ -‐

P U B L I C ,
V E N T U R E
B A C K E D

I M M I G R A N T
C O M PA N I E S

“To immigrate is an
entrepreneurial act”
--Ed Roberts, Founder
MIT Entrepreneurship Center

Immigrants Are Driving
U.S. Innovation

* Immigrants filing patents at
twice rate of American-
born.
* Immigrant patent filings:
72% Qualcomm, 65% Merck,
64% GE, 60% Cisco

Immigrants Can Drive Exports

—  Research in Sweden demonstrates that a 10
percent increase in immigrant
population was linked to a 6 percent
increase in bilateral trade with the
immigrants’ home country.

Intl Students Who Stay = Jobs for U.S.

For every 100 international students who
stay after earning U.S. advanced degrees
in science, technology, engineering or
math a CREATE 262 JOBS IN AMERICA
2011 Study by American Enterprise Institute &
Partnership for New American Economy:

Foreign Students in North Carolina, National Rank and
Economic Impact

Rank
in
US
Total

FOREIGN
STUDENTS
IN
NORTH
CAROLINA
#17
12,824

(up
4.2%)

ESTIMATED
FOREIGN
STUDENTS
EXPENDITURE
IN
$304

NORTH
CAROLINA

(in
millions
of
dollars)

Percent of Foreign Student’s in STEM Fields of Study: 36.1%
Percent of U.S. Undergraduate Student’s in STEM Fields of Study: 13.7%

N. Carolina Institutions with the Highest Number of Foreign Students
InsLtuLon
City
Total

North
Carolina
State
University

Raleigh
3,235

Duke
University
&
Med
Center
Durham
2,485

University
of
N.
Carolina
Chapel
Hill
1,674

University
of
N.
Carolina
CharloKe
1,300

Immigrants have created millions of jobs for
Americans, and will create millions more….
if we let them --- in advanced manufacturing, clean
energy, biotech, advanced materials, exports….

Can Immigrants Help Save
the Rust Belt & U.S. Economy?

But….
Isn’t “Immigrant”
a Dirty Word?

Immigration and Crime FACTS

— 

San
Diego,
Phoenix,
El
Paso,
and
Austin

— 

Immigrant
Incarceration
Rates
are
one-‐ﬁfth

the
incarceration
rates
of
people
born
in
the
U.S.

Immigrants largely
compliment, not displace,
American-born workforce.

Immigrant workers usually
work in high-skilled or lower
skilled jobs, where U.S. has a
shortage of workers.

Today, there are about 3
million unfilled jobs in
America

We don’t talk about
immigrants as the Dream-
Keepers, the Job-Creators,
the Bedrock of Family-
Values, the ENGINE that
makes America work!

A New Local/National Movement:
Welcoming Immigrants to Spur
Economic Growth
Chicago Mayor’s
Office for New
Americans

Global Philly

U.S. Immigration & Its Job-Creation Capacity:

BROKEN

Immigration Policy Is Not Aligned with
Nation’s Economic Development Needs

Discriminate Against Highly Skilled. Of
1 Million Green Cards issued per year, only
4-5% or given to highly skilled (advanced
degreed) or investor immigrants

Malawi = India (nationality quotas: each
country allocated 7% of employment based
green cards per year, regardless of their nation’s
population)

These quotas are nearly 60
years old ----- they have no
relationship with the needs of
America’s New Economy

Skilled immigrants, many of
whom want to start their
own company in the U.S.,
have to wait up to 8 years
for a Green Card

We treat them like DIRT,
instead of the GOLDEN-
JOB-CREATORS!

This is what NYC Mayor
Bloomberg calls:

“National Suicide.”

And not just PhD
immigrants ----- all hard-
working immigrants
with a dream.

It’s all connected.

$1.5 trillion added to GDP
in next 10 years

….If we legalize the 11 million
undocumented persons in U.S.
Study at UCLA, 2010

“The richest regions are
those with the highest
proportion of immigrants.”
President’s Commission on
Immigration, 1953

Want to Win?
Build the most
powerful teams on
the planet
(just like NBA)

Fairness for High-Skilled
Immigrants Act

U.S. HOUSE OF
REPRESENTATIVES PASSED
BILL 389 TO 15

NOVEMBER 29, 2011

Republican-Sponsored Bill:
“BRAIN Act”

U.S. Rep. Tim Griffin, Arkansas (R)

* Immigration Enforcement is
not the top-tier, hot button issue

* 72% are open to allowing intl students
Poll of educated in U.S. to enter workforce
after graduation
Likely Iowa
Republican * 64% open to streamlining process for
employers to hire unfilled seasonal
Caucus and permanent jobs

Members * 71% open to increasing opportunities
for foreign entrepreneurs move to
U.S. to start a new business

Frank Luntz
pollster & author

“What Americans Really Want”

“We all agree that current
immigration system is
broken”

“Tall Fences, Wide Gates”

Talent is the
New Oil.
Drill, Baby,
Drill!

“World Is Flat” Guy, Tom Friedman

“Pour into the America the
most diverse, smart and
energetic immigrants
from every corner of the
world and the stir and
repeat, stir and repeat,
stir and repeat.”

Key to Success:

“think like an
immigrant”
Omid Kordestani

Want
Jobs?

Tap
the

Immigrant

Dividend

Welcome
the
For
More
Info:

Job-‐Creators
by

—  www.ImmigrantInc.com

Reforming

Immigration

Law
&
Changing

Perceptions

Richard Herman's Presentation at Raleigh Chamber of Commerce, titled "Immigrant Entrepreneurs and Innovators"

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Richard Herman's Presentation at Raleigh Chamber of Commerce, titled "Immigrant Entrepreneurs and Innovators"