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February 15, 2017 | Number of The Day
NJ’s rank among states ordered by economic impact of immigrant population

President Donald Trump might keep this in mind before he signs another executive order: New Jersey is ranked second among all states and the District of Columbia in terms of the economic impact of immigrants on its overall economy. That’s according to a new study from WalletHub, the personal finance website.

A quick look at the top-level findings makes clear just how much immigrants contribute to New Jersey’s economic well-being:

  • The state is ranked second for the percentage of jobs generated by immigrant-owned businesses.
  • It takes the third spot for median household income of foreign-born population.
  • New Jersey is first for the percentage of immigrant STEM workers out of the total number of STEM workers.
  • The state ranks 12th for the percentage of immigrants age 25 or older who hold a bachelor’s degree or higher.
  • The Garden State comes in 21st for the percentage of Fortune 500 companies founded by immigrants or their children.
  • In order to determine the states in which immigration has the most positive economic impact, WalletHub’s analysts compared the 50 states and the District of Columbia across four key dimensions: immigrant workforce, socioeconomic contribution, “brain gain” and innovators, international students — using 18 key metrics.