This report from New American Economy documents the economic impact of immigrants in Phoenix, Arizona. Accounting for 20 percent of the total population, the immigrant population in Phoenix was responsible for raising the total housing value in the city by $1.2 billion in the period following the Great Recession, and immigrant entrepreneurs in the city generated $390 million in business income in 2014.
The report, New Americans in Phoenix, finds:
- Growth in the foreign-born population accounted for 23 percent of overall population growth for Phoenix between 2010 and 2014.
- In 2014, immigrants paid $1 billion in federal taxes and $534.7 million in state and local taxes. They also held $4.9 billion in spending power.
- There were 22,304 self-employed immigrants in Phoenix in 2014. Together, they earned $390 million in business income.
- In 2015, half of the Fortune 500 companies in Phoenix were founded by immigrants or their children.
- Immigrants living in Phoenix in 2014 helped create or preserve 14,052 local manufacturing jobs.
- Between 2000 and 2014, immigration to Phoenix increased the total housing value in the city by $3.2 billion.
Read the full report here.