29 April 2015

Poorly Designed Immigration Reform Will Negatively Impact American Innovation and Economic Growth

WASHINGTON, D.C. – March 31, 2015 – The U.S. is on the brink of a new IT revolution that could produce $5 trillion in economic gains by enabling companies to drive innovation, jobs and income growth, and opportunity from a new wave of technologies requires updated immigration and visa policies, concludes a new report released today by the American Competitiveness Alliance (ACAlliance).

The new paper —“IT Services, Immigration, and American Economic Strength” by Professor Matthew J. Slaughter, incoming Dean of the Tuck School of Business at Dartmouth—identifies the policy challenges facing the U.S. labor market as it expands its high-value knowledge and technology-based economy. It advances the requirements for a suite of recommended actions that Congress can take to address the shortage of specialized STEM workers at U.S. companies and further harness the IT sector as a driver of American innovation and growth.

“Today a new wave of IT innovation is building around social, mobile, analytical, and cloud technologies,” said Slaughter, incoming Dean of the Dartmouth Business School. “This next IT revolution could create economic value worth 10% to 30% of U.S. GDP—manifested in new jobs, new goods and services, and rising incomes—if America has sufficient access to global talent.”

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