In March,
Forbes magazine named Nashville one of the
best cities in the U.S. for minority entrepreneurs. One of the most important factors contributing to this ranking is that the Nashville region has the fastest-growing immigrant population in the nation. Without a doubt, this influx of new residents -- and the businesses many of them have created here -- are helping Middle Tennessee grow and prosper.
The Chamber has always opposed illegal immigration, but we recognize that our country needs an immigration system that secures our borders and addresses the presence of current undocumented workers, while welcoming immigrants who are essential for America’s economic growth. As a member of the
Partnership for a New American Economy, we have joined a coalition of political and business leaders that advocates for comprehensive federal immigration reform as an economic imperative.
Earlier this week, the Chamber, the Partnership for a New American Economy and Business Forward co-hosted a panel discussion with local and national experts to discuss the critical issues surrounding welcoming and integrating our immigrant population into the workforce. Several important points emerged during this discussion:
- As projected in the Middle Tennessee Workforce Study, our region will be back to full employment by 2014. By 2019, we will face a deficit of 23,000 available workers. As birth rates decline and the Baby Boom generation begins to retire in large numbers, we must depend on both in-migration and immigration as significant sources of new workers to fill the gap.
- Complex immigration laws limit the kind of work immigrants to the United States can do. For example, someone here on a work visa could start a company, but he/she couldn't work for it. The U.S. Citizenship and Immigration Services has implemented the EB-5 Immigrant Investor Program, which allows foreign investors and their families to gain a permanent resident visa if they can create or preserve at least 10 full-time U.S. jobs through a substantial investment.
- Foreign investment is critical to Tennessee's economy, and we know that immigration laws impact our ability to recruit and retain these companies. As of December 2010, 774 foreign-owned firms representing 36 different companies are operating in Tennessee, representing more than 103,000 jobs and a total capital investment of more than $23 billion.
- During a time when we are emerging from a national recession, and high unemployment remains a major concern for the U.S. economy, it is senseless that our country’s immigration laws would inhibit foreign entrepreneurs from starting businesses and creating jobs.
Some of the world's brightest entrepreneurs have flocked to the United States because of the opportunities available here. These workers have started the new businesses and filled the key roles in American companies that have helped make the U.S. economy so dominant in the last several decades. Welcoming and integrating our immigrant population into the workforce is one of the most important issues facing our city, region, state and nation.