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This is the powerpoint presentation that I am delivering today, 9/13, as part of the Onam Ponnonam celebration hosted by the Kerala Association of Ohio. The discussion focuses on the amazing contributions of immigrants to America, with a special emphasis on immigrants from India. The data demonstrates that immigration is America's secret weapon in the hyper-competitive global economy, and that the long-standing immigration reform debate is improperly framed and ultimately undermines the nation's economic and national security. Immigrants from all countries contribute mightily to the country's economic development, job creation and innovation. Immigrants from India stand-out from the pack. I was quoted in this recent article from International Business Times (referring to a quote in Forbes): ”It’s not a surprise that we’re seeing Indians rise in corporate ranks,” said Richard Herman, co-author of a book entitled "U.S., Immigrant Inc.," to Forbes. "Of all the immigrant groups coming in today, Indians are head-and-shoulders above others, and this is partly because of their English-language skills and also the advanced education that many of them are bringing to the U.S.” http://www.ibtimes.com/rise-indian-americans-u-s-business-infographic-1560450 America needs to understand the job-creation benefits of welcoming immigrants, integrating the foreign-born, and passing comprehensive immigration reform. Delay on this front is jeopardizing America's future.
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The Amazing Success of Indian Immigrants in America
September 13, 2014Onam-Ponnonam
Kerala Association of Ohio
Richard Herman
whyImmigrants?
Rust BeltHemorrhaging Jobs & People
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%
Where do NEW jobs come from?
“The richest regions are those with the highest proportion of immigrants.”
President’s Commission on Immigration, 1953
Family Education
EntrepreneurshipSelf-Reliance
ThriftLove of Country & the
Dream
“IMMIGRANT, INC” ---- A CULTURE
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
When it comes to job growth, STARTUP companies are the BIG BANG!
So WHO are behind the startups in America?
◦* 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;
Immigrants Driving New Economy
&Urban Revitalization
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 IntelGE Budweiser Home DepotAT&T McDonald’s U.S. SteelBoeing IBM DowDisney Kraft UPSApple Procter & Gamble Estee LauderHertz Levi’s DuPontPfizer Bank of America Heinz
“To immigrate is an
entrepreneurial act”
--Ed Roberts, Founder MIT Entrepreneurship
Center
Ohio Immigrant Entrepreneurs & Consumers:
The Facts
•13,740 Asian owned businesses had sales of $5.1 billion, and employed 42,955 people
•*7,109 Latino owned businesses had sales of $1.3 billion and employed 11,348 people
•*2009 purchasing power of Ohio’s Latino’s totaled $6.6 billion (increasing 334% since 1990)
•*Asian buying power totaled $6.9 billion (increase of 270% since 1990)
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
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 Ohio, National Rank and Economic Impact
Rank in US Total
FOREIGN STUDENTS IN OH #8 24,709
+10.5%
ESTIMATED FOREIGN STUDENTS EXPENDITURE IN OH (in millions of dollars)
$662
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%
OH Institutions with Foreign Students
Institution City Total
Ohio State University Columbus 6082CWRU Cleveland 1559
CSU Cleveland 1500Tri-C Cleveland 288
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.
Immigrants Can Drive Exports
10% of Fortune 100 CEOs Are Immigrants
Despite coming from demographic that comprises 1.5% of U.S. population
And not just PhD international students ----- all hard- working
immigrants with a dream.
It’s all connected.
We don’t talk about immigrants as the
Dream-Keepers, the Job-Creators, the Bedrock of
Family-Values, the ENGINE that makes
America work!
Immigrants have created millions of jobs in America, and will create millions more, if we
let them…..
Indian Immigrants: 1% of USA
•1965 Immigration Act;•Vinod Dham, Kanwal Rekhi, Vinod Khosla•Leaders in Science, Medicine, Corporations, Technology, Entrepreneurship;•52% of tech workforce in Silicion Valley•CEOs: Satya Nadella (Microsoft), Indra Nooyi (Pepsi),•Ajay Banga (Mastercard), Anshu Jain (Deutsche Bank)
34
Sanjiv Ahuja, Syed Babar Ali, Vindi Banga,
Hussain Dawood, Vinod Khosla, Anand Mahindra,
Kiran Mazumdar-Shaw, Aditya Mittal, Victor Menezes,
Shiv Nadar, Narayana Murthy, Arun Sarin,
Desh Deshpande, Apurv Bagri & Kanwal Rekhi
A New Urban Movement:
Welcoming Immigrants to SpurEconomic Growth
Global Philly
BaltimoreColumbus
St. Louis
CincinnatiDayton
DetroitGlobal Philly
we welcome the job-creators
We Are All Immigrants
Nearly 2/3 of America is an
immigrant, a child or grandchild of an
immigrant, or married to an
immigrant
“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.”
Want to Win? Build the most powerful teams on the planet (just like NBA, MLB,
NHL)
Talent is the New Oil. Drill, Baby, Drill!
What Does the New Economy Crave?
HYPER-CONNECTIVITY
Silicon Valley Cleveland
Smart Inclusion
Welcome to the New Cleveland
Key to Success:
“think like an immigrant”
Omid
Kordestani
