April 14, 2019. This article highlights the link between immigration and economic growth – “America’s secret sauce that has the potential to foster broad-based prosperity has always been immigration.”
Quotes David Dysseygaard Kallick, senior fellow with the Fiscal Policy Institute, who wrote about the centrality of immigrants to New York City’s success in his book “One Out of Three: Immigrant New York In The 21st Century”
“The increase in the number and proportion of immigrants in the city has fueled economic growth, filled in neighborhoods that had become underpopulated later during the 1970s, and helped make New York the extraordinarily diverse global city it is today, with immigrants working in a wide range of jobs from the top to the bottom of the economic ladder.”
“Immigrants also have been among the entrepreneurs who found ways to meet new consumer demands,” writes Kallick. “Between 1994 and 2004, the number of businesses in the city overall increased by 10 percent, while the number of businesses in neighborhoods with particularly high concentrations of immigrants grew far faster: Flushing [in Queens] had 55 percent more businesses at the end of that ten-year period than at the beginning; Sunset Park had 48 percent more; Sheepshead Bay-Brighton Beach [all in Brooklyn] had 34 percent more; and so on down the list.”
Read the article here.