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Knowledge Economy Immigration

Knowledge Economy Immigration. “Every individual that we can inspire, that we can guide, that we can help to start a new company, is vital to the future of our economic welfare.” — Ewing Kauffman. Tim Kane, Ph.D. April 2009. Knowledge Economy Immigration.

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Knowledge Economy Immigration

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  1. Knowledge Economy Immigration “Every individual that we can inspire, that we can guide, that we can help to start a new company, is vital to the future of our economic welfare.” — Ewing Kauffman Tim Kane, Ph.D. April 2009

  2. Knowledge Economy Immigration • The single most important policy reform that will boost long-term economic growth in 2009. • Five benefits of KEI – new companies, net job creation, innovation, reduce off-shoring, budget boost. • Legal barriers are severe for KEI. • Widespread political consensus favors KEI. (Note: KEI and illegal immigration should be de-coupled) • A simple 3-point plan for KEI reform.

  3. The Future is Now Percentage of U.S. Workforce 1800 1900 2000 Source: Dallas Fed, 2003 Annual report

  4. Benefits of KEI New companies, net job creation, innovation, reduce off-shoring, budget boost. Arlene Holen of the Technology Policy Institute finds that the gross loss of federal revenues from two groups – foreign graduates and H1-B workers – who were required to leave the U.S. during 2003-2007 was $2.7 to $3.6 B and $4.5 to $6.2 B respectively.

  5. Legal Barriers to KEI "Over the five years 2003-2007, 143,391 bachelor’s degrees were granted in STEM fields in the United States to non-resident aliens, 255,267 master’s degrees, and 49,532 doctoral degrees.“ according to Arlene Holen of TPI. Nearly 200,000 of these STEM graduates would have stayed and worked in the U.S. but for constraints by the federal government that required them to leave.

  6. Political Consensus • A sample of the diverse organizations that support knowledge economy immigration reform: • Heritage Foundation • Hudson Institute • Cato Institute • Council on Foreign Relations • Brookings Institution • Center for American Progress

  7. 3-Point Plan for Knowledge Economy Immigration Reform • Grant permanent residency (green card) to foreign graduates of U.S. universities. • Eliminate caps on H1-B visas. To allay fears of negative effects of the program, initially eliminate the cap for a brief trial period of 3 years. • Allow permanent H1-B extensions after the first two 3-year periods, based on a criminal and conduct review by the Department of Labor.

  8. Contact Us Tim Kanetkane@kauffman.org816- 932-1118 www.growthology.org

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