immigrant entrepreneurs: a key to rebuilding u.s. economy
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new powerpoint to be delivered in detroit on 7/18 at the conference, "Immigration and Michigan's Future." Day-long conference to feature Michigan Governor Rick Snyder, NYC Mayor Michael Bloomberg, major CEOs, President of Wayne State University, and a cast of thousands! The eyes of the nation will be watching Detroit. Can immigrants save detroit? I say --- yes! as part ofa new intercultural team with African American talent and entrepreneurs, and other diverse talent, as we work towards building the most powerful teams on the planet. We hope this conference helps galvanize efforts not only in Detroit and Michigan, but in struggling cities around the country. This city-driven, economic argument should be a MAIN PLANK of comprehensive immigration law reform. We are all immigrants!TRANSCRIPT
Richard Herman
Immigrant Entrepreneurs
A KEY to rebuilding our economy and creating jobs
Nearly 2/3 of America is an
immigrant, a child or grandchild of an
immigrant, or married to an
immigrant
some came to these shores
voluntarily……..some did not
We Are All Immigrants
It’s in our DNA
we are strivers and survivors
Rust Belt Is Hemorrhaging Jobs & People
MICHIGAN
Over last 10 years, lost 790,000 jobs
Detroit: over last 60 years, lost 50% of population (1.8 million to 900,000)
Percentage of immigrants dropped from 30% to 10%
OHIO
Over last 10 years, lost 525,000 jobs
Cleveland: over last 60 years, lost 60% of population (950,000 to 396,000) (17% in 10 yrs)
Percentage of immigrants dropped from 30% to 5%
In 2011, with the U.S. economy stuck in first
gear, it’s time we remember……..how to
drive the economy …..FAST
we welcome the job-creators
To immigrate is an
entrepreneurial act
--Ed Roberts, Founder MIT Entrepreneurship
Center
* 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
Immigrants Create Jobs
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
7 of 10 most valuable brands in the world were created by U.S. immigrants or
children of U.S. immigrants
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….
But….Isn’t “Immigrant”
a Dirty Word?
George Carlin’s 7 Dirty Words
We don’t talk about immigrants as the
Dream-Keepers, the Job-Creators, the Bedrock of
Family-Values, the ENGINE that makes
America work!
Time to Change the Conversation
When it comes to job growth, STARTUP companies aren’t everything……..
they’re the ONLY THING!
• 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
STARTUPS: New employment paradigm
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
*2009 Nobel Prizes in Science --- U.S. Dominated with 8 out of 9 going to U.S. citizens (over 50% foreign-born Americans)
*Immigrants fi ling patents at twice rate of American-born.
*Immigrant patent fi lings: 72% Qualcomm, 65% Merck, 64% GE, 60% Cisco
Immigrants Are Driving U.S. Innovation
* 25% OF ALL PUBLIC, VENTURE-BACKED FIRMS IN U.S.
FOUNDED BY IMMIGRANTS
* ADD HIGH TECH LABEL, PERCENTAGE INCREASES TO 40%
* MARKET CAP OF $500 BILLION --- PUBLIC, VENTURE BACKED
IMMIGRANT COMPANIES
The venture capitalists know a
deal when they see one
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. Furthermore, the study found for every 12,000 immigrants, Swedish exports would increase by approximately $1 billion dollars.
U.S. Immigration & Its Job-Creation Capacity:
BROKEN
Immigration Policy Is Not Aligned with Nation’s Economic Development Needs
Malawi = India (nationality quotas: each country allocated 7% of employment based green cards per year, regardless of their nation’s population)
.
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
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 train the world’s best and brightest at our
universities…..only to “kick them out” of the
country when they graduate with their
advanced degrees and encourage them to
compete AGAINST the U.S.
We treat them like DIRT, instead of the
GOLDEN-JOB-CREATORS!
What part of
“legal immigration is#!@x^#!-ed up”
don’t they understand?
So, they are leaving (or not coming at all)
First time in U.S. history----- reverse brain drain, over 100,000 high skilled immigrants are
expected to leave the U.S. in next 10 years
They see new opportunity in their
home countries, or are welcomed in other
countries
Canada and other countries are coming to U.S. soil to recruit our disgruntled high-skill immigrants, offering
them fast-track citizenship, jobs, and
business support
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
REFUGEES CAN CHANGE THE WORLD
“World Is Flat” Guy, Tom Friedman
“Dear America, please remember how you got to be the wealthiest country in history.
…the formula was very simple: build this really flexible, really open economy, tolerate creative destruction so dead capital is quickly redeployed to better ideas and companies,
Pour into it the most diverse, smart and energetic immigrants from every corner of the world and the stir and repeat, stir and repeat, stir and repeat.
It’s important that we understand WHY so
many Americans fear and loathe the new
immigrants
America’s Demographics Are
A-Changin’
* Last decade, 85% of population increase from racial & ethnic minorities
* 1 out of 7 new marriages are interracial
* Young whites (under 18) are the minority in 10 states, including Arizona
* By 2021, the majority of children 4 and under will be minority
* By 2042, the majority of all Americans will be minority
Talent is the New Oil. Drill, Baby, Drill!
Want to Win? Build the most powerful teams on the planet (just like NBA)
The Dream Act
The Staple Act
Can Immigrants Save the Rust Belt?
Fastest Growing Metro Areas for Technology Jobs (Dice)
Detroit: 101% Cincinnati: 75% Cleveland: 62% Columbus: 57% Seattle: 54%
Pittsburgh: 45% Miami: 43%
Jacksonville: 41% Chicago: 40%
Silicon Valley: 40%
Expanding Tech Job Market in U.S.
Dice by the NumbersAs of February 1, 2011*
Available Tech Jobs: 74,413Full-time Positions:
46,837Contract Positions:
32,239Part-time Positions: 1,524
Better Educated & Make More Money
* 40% of adul t immigrants in 8 -county reg ion ho ld co l lege degree vs . 27% of nat ive-born
* immigrant medium fami ly income in Cuyahoga County i s $60 ,272 vs . $57 ,463 for nat ive-born.
Northeast Ohio Immigrants: The Facts
it’s all connected
Philly enjoys an ecosystem that welcomes & connects immigrants, revitalizing neighborhoods
After decades of out-migration, Philly shows population increase for first time in 60 years --- in large part due to influx of immigrants between 2000 and 2010
“I am concerned by the majority’s attempt to manufacture tension between African-Americans and immigrant communities. It seems as though they would like for our communities to think about immigration in terms of ‘us versus them,’ and I reject that notion.”
March 1, 2011, Rep. Emanuel Cleaver (D-MO), Congressional Black Caucus
FORBES, 2011:
ATLANTA: #1DETROIT: #47
CLEVELAND: #51
Cleveland vs. Atlanta as a Launchpad for Minority
Entrepreneurs
Silicon Valley Cleveland
Cleveland vs. Silicon Valley
Similar number of nodes of various technology and cultural assets…….but
connectivity between each city’s nodes is vastly
different
HYPER-CONNECTIVITY (TEAR DOWN THE SILOS)
What Does the New Economy Crave?
John Sibley Butler, Director of Entrepreneurship, University of Texas, Austin
TiE Global 2903 Bunker Hill Lane, Suite 108, Santa Clara, CA 95054
70
World’s Largest Non Profit Fostering Entrepreneurship
EDUCATING MENTORING NETWORKING
Tokyo
Melbourne
Extending Global Footprint
October 12 2010
Kansas City
Scaling to Next Level
Mauritius
Singapore
Dubai
Silicon Valley
Hey, America…..time to “think like an immigrant!”
Key to Success: “think like an immigrant” Omid Kordestani
WAKE-UP, AMERICA!
Want Jobs? Tap the Immigrant Dividend
Welcome the Job-Creators by Reforming Immigration Law & Changing Our Attitudes
www.ImmigrantInc.com
Good Luck
We Are All Immigrants
Richard T. Herman, Esq.Herman Legal Group
www.HermanLegalGrouup.com
(216) [email protected]
Immigration Law Firm for Businesses & Families