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We are largely a nation of immigrants, and relatively recent ones at that. Waves of immigrants have come to the United States over the past several centuries, transforming the county from a colonial backwater to the wealthiest nation on the planet.  A report just out shows how important immigrant business owners are to communities across the country. As can be seen below, immigrants are over-represented as business owners, and it turns out they make up a particularly large share of main street proprietors.

The role that immigrants play as local business owners tends to be overshadowed in the policy debate surrounding immigration policy in the US  Amidst the talk about border security, paths to citizenship, and human rights, we tend to overlook the fact that immigrants are vital to the economic backbone of the United States, small businesses. The Fiscal Policy Institute report shows that while immigrants make up 16% of the labor force, they own 28% of the main street businesses in the US In many communities, immigrants make up a larger share of small businesses owners today than they did a decade ago, which is clearly shown in the graph below. Moreover, the report underscores how important immigrant businesses can be as early instruments of community revitalization, going into neighborhoods and communities when larger firms are still hesitant to invest.

Here are some of the other highlights from the report:

When you take a sober look at the economic data, its clear that immigrants are essential to the economic well-being of the United States. Whatever you think about recent Executive actions, or what needs to be done about immigration policy generally, this is not an issue that we can afford to ignore. Immigrants have always been part of the US economic history and, if we want to remain one of the most dynamic economic markets in the world, immigrants will be at the heart of those future stories as well.