CT a Top-10 State for Economic Impact of Immigrants

/

In an analysis of the economic impact of immigrants in states across the country, Connecticut placed 10th, among the states where immigrants have had the greatest economic impact.

The analysis, by the financial website WalletHub, determined that states on both coasts have seen the greatest impact.  The top 10:  New York, California, New Jersey, Massachusetts, Maryland, Washington, Delaware, Florida, Virginia and Connecticut.  Elsewhere in New England, Rhode Island ranked 20th, New Hampshire was #26, Vermont was #33 and Maine ranked 45th.

intern_jimenez-640.jpg

In a handful of the sub-categories, Connecticut also ranked in the top 10.  The state was 7th in the Economic Contribution of International Students per Capita, and 9th in both the percentage of Jobs Created by Presence of International Students Out of Total Jobs, and Median Household Income of Foreign-Born Population.

In order to determine which states benefit most from immigration, WalletHub compared the 50 states and the District of Columbia across 23 key metrics, ranging from median household income of foreign-born population to jobs generated by immigrant-owned businesses as a share of total jobs.

Connecticut also ranked 11th in the percentage of Jobs Generated by Immigrant-Owned Businesses Out of Total Jobs and 12th in the percentage of Foreign-Born STEM Workers Out of Total STEM Workers in the state.

Some of the other category rankings for Connecticut include:

  • 16th – Net Difference Between State & Local Revenues and Expenditures per Immigrant

  • 18th – % of Foreign-Born Population Aged 25 & Older with a Bachelor’s Degree or Higher

  • 23rd – % of Fortune 500 Companies Founded by Immigrants or Their Children

“Immigrants are an economic benefit to states in myriad ways,” explained Emerson College Associate Professor Mneesha Gelllman. “Most pertinent for those who take a dollars and cents accounting over a more humanistic approach, immigrants benefit states because they pay into government coffers substantially more than they will ever benefit from them.”