The Economic Contributions of Immigrants in Minnesota: Conclusion and recommendations
Conclusion and recommendations
Immigrants in Minnesota are an undeniable benefit to the state’s economy. In the long term, immigrants hold down critical jobs, pay taxes, stimulate the economy through spending, start businesses and provide a link to the world economy. Immigrants who settle in Minnesota demonstrate high levels of upward social mobility as they assimilate into our economy. As the state’s population ages and the native-born workforce participation rate drops, foreign-born workers fill in the gaps in employment. In addition, immigrants with high levels of education can fill specialty occupations in the state. Some of the most important industries in Minnesota depend on immigrant labor and access to these workers is essential for their success.
- Broadly publicize the positive contributions immigrants make to our economy. Present data, economic reports, dashboards and other benchmarking mechanisms to detail specific positive impacts and how they change over time.
- The demographics of the native-born population suggest that there will be plenty of employment and career opportunities for immigrants and native-born Minnesotans alike for the foreseeable future.
- The younger age profile of Minnesota immigrants suggests that there is not likely to be a significant increase in the rate of immigrant entrepreneurship any time soon. Nonetheless, building the systems that support immigrant entrepreneurs is important to the development of our current and future economy.
- Increase the funding available for CDFIs at the federal level or replicate the CDFI fund at the state level to increase immigrant business formation. Target funds to specific industry sectors or geographies to help amplify their impact. Help CDFIs market their entrepreneurship resources to immigrant entrepreneurs to increase awareness.
- Federal immigration reform remains a crucial ingredient for economic growth for the state and the nation. Reform should include moving to a modern system that synchronizes the needs of the economy with the future flow of immigrants, in addition to addressing the status of those unauthorized immigrants living in the U.S. already.
With support from The McKnight Foundation