According to a 2016 report, which was released by the Partnership for a New American Economy (NAE), showcases data on the foreign-born population in Ohio, including tax contributions, spending power, and their role in Ohio’s key industries as leaders and job creators.
“The New American population has grown exponentially over the past few decades, spurring economic growth and creating jobs,” said Lilly Cavanaugh, Executive Director for the Ohio Latino Affairs Commission. “Immigrants represent a key investment opportunity to solidify our state’s economic growth.” “The importance of embracing Ohio’s growing New American community cannot be overstated. Immigrants add value to the overall well-being of Ohio, and are proud to become part of the fabric of this great state,” added Dr. Yung-Chen Lu, Founder of the Ohio Asian American Pacific Islander Advisory Council.
According to the report — The Contributions of New Americans in Ohio — immigrants contributed $4.4 billion in taxes in 2014 and their total income was $15.6 billion, or 5.2 percent of all earnings in the state. Although immigrants are only 4 percent of the state’s population, they comprise 7 percent of all entrepreneurs in the state, and play a large role in Science, Technology, Engineering and Math (STEM) fields – a major component of U.S. economic growth. Immigrant workers make up 6.7 percent of all entrepreneurs in Ohio, and their businesses generated nearly $532 million in business income in 2014, according to the report.
Some of the most interesting facts from the report:
- There were 9,114 immigrant entrepreneurs in 2014 and are 28.4% more likely to be entrepreneurs than native born Americans.
- Immigrants are more likely to earn a bachelor’s degree than natives. (23.5% vs. 21.7%)
- Immigrants make up nearly 11.6% of STEM careers
- There are 60,155 voting immigrants in the area.