Jason Oxman, President and CEO of the Information Technology Industry Council (ITI), a trade association representing leading technology companies, has highlighted the importance of a recent Supreme Court decision supporting foreign-born graduates of U.S. colleges and universities, particularly those in STEM fields. Oxman stressed that these graduates play a crucial role in contributing their entrepreneurial skills to the U.S. economy and promoting innovation.
In response to the Supreme Court decision, Oxman called on Congress and the Biden Administration to collaborate with industry to enhance the immigration system in order to boost economic competitiveness. He urged policymakers to build on the momentum of the court ruling and work towards creating a modern and competitive immigration system.
Oxman stated, "U.S. innovation and competitiveness thrive on a highly skilled workforce," emphasizing the need to recognize the value that foreign-born graduates bring to the country's economy.
According to a factoid provided, as of 2019, immigrants accounted for almost one-fourth (23.1 percent) of all STEM workers in the United States. This number has increased significantly since 2000 when foreign-born individuals made up only 16.4 percent of the STEM workforce. The overall number of STEM workers in the country has also seen a substantial growth of 44.5 percent during the same period.
Foreign-born STEM professionals have made significant contributions to U.S. economic productivity and innovation. Studies have shown that immigrants outperform native-born individuals in patent acquisition, particularly in fields such as computing, electronics, medical devices, and pharmaceuticals. Additionally, immigrants demonstrate a higher inclination towards entrepreneurial ventures, with a notable 44 percent of Fortune 500 companies in the United States established by either immigrants or their descendants in 2021.
The presence of highly skilled immigrants in the American job market has been notable, especially in professions that typically require a college degree. For instance, immigrants accounted for 45 percent of software developers, 42 percent of physical scientists, and 29 percent of physicians in 2018. However, the representation of highly skilled immigrants may have decreased in recent years due to policy shifts during the Trump administration that restricted U.S. firms' ability to recruit foreign employees, increased scrutiny of work and international student visas, and complexities in obtaining permanent residency.
The United States has long been a preferred destination for higher-educated immigrants and those seeking a college education due to its strong economy, renowned universities, and opportunities for innovation and entrepreneurship. These immigrants have arrived on various temporary visas for high-skilled workers, as international students and researchers, and as family members of U.S. residents.
In conclusion, Jason Oxman emphasizes the importance of supporting foreign-born graduates in STEM fields and highlights the need for collaboration between Congress, the Biden Administration, and industry to enhance the immigration system. Recognizing the contributions of highly skilled immigrants is crucial for maintaining U.S. innovation and competitiveness in the global economy.