The number of immigrant entrepreneurs in Maryland was twice as many as the US-born people in 2014, says the Kauffman Foundation. In the same year, they were responsible for floating one out of all three new companies in America.
Jason Wiens, policy director at Kauffman, was quoted by the Baltimore Sun as saying that by welcoming more immigrants and allowing them to make America their home was a way to create more jobs for the US citizens.
The Fiscal Policy Institute’s report of 2012 said that although immigrants comprised nine percent of Baltimore’s population, they owned almost 21 percent of the city’s enterprises.
Rajshree Agarwal, a professor of entrepreneurship and director at the University of Maryland, said that this did not necessarily imply that natives were less enterprising than their foreign counterparts. It only stated that immigrants were more inclined to be risk-takers than Americans.
It was also revealed that in the year 2013 over 40 percent of the food service and retail businesses in the areas of Baltimore and Towson were owned by immigrants.
In fact, businesses owned by foreign-born residents in Maryland managed to earn net revenues worth $2.8 billion during the 2006-2010 period, according to data made available by Robert Fairlie of the University of California, Santa Cruz.
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