Report: Immigrants invested $1.2 billion in Tyler subway

A new report from the American Immigration Board highlights the critical role of immigrants in Tyler, local officials say.

The new study was published by the American Immigration Council through the Global Network of Chambers of Talent — a network of chambers of commerce from across the country that view immigration as an economic growth strategy — in partnership with the Tyler Chambers of Commerce and Tyler’s Latin American Business Alliance.

“Immigrants play a critical role in our economy and workforce, both locally and nationally,” said Nancy Rangel, President and CEO of Tyler Hispanic Business Alliance.

The report shows that immigrants contributed $1.2 billion to the GDP of the Tyler area in 2019.

“I’m excited to receive this new research and learn about its positive impact on Tyler’s economy,” said Henry Bell, president of the Tyler Chamber of Commerce.

The report highlights the role of immigrants as a major contributor to the growing Texas economy.

For example, according to the analysis, in 2019, immigrant households earned $524.3 million.

Of that amount, $75.8 million went to federal taxes and $45.1 million went to state and local taxes, bringing Tyler’s purchasing power to $403.4 million.

“Anyone who spends money in the city, including our immigrants, will have a positive impact on our economy,” Bell said.

According to the American Immigration Board, the report plays a role in educating local communities about the positive impact of immigrants on the economy and the workforce, which the Texas business community is working on, according to the American Immigration Board.

“Immigrants in the Tyler metro area have a lot of power,” Rangel said.

Immigrants make up 8.5% of Tyler’s total population, according to an AIC study; however, 17.5% of these immigrants were entrepreneurs, contributing to the positive impact of Tyler’s economy. In 2019, 1,700 immigrants in Tyler’s subway worked for their own businesses, generating $41.4 million in revenue.

The AIC says these numbers show that immigrants are 49.5% more likely to become entrepreneurs than their US counterparts.

In addition, of the 108,000 people who worked in Tyler in 2019, commuting to or within the area, 11.7% were immigrants.

Key findings from the AIC study also include that immigrants make up 12.4% of the employed workforce, including 31% in construction, 19% in professional services, and 16% in manufacturing.

“In the Tyler metro area, immigrants have bolstered the local labor market by allowing companies to retain jobs within the United States, helping to create or retain 900 local manufacturing jobs that would otherwise disappear or relocate by 2019,” reads the statement. AIC report.

“It’s great to see the business community from all over the state coming together to discuss the huge positive impact that immigrants are having on our local communities,” said Chelsea Kramer, Texas Organizer for the American Immigration Council and Texans for Economic Growth.

In 2019, 17.5% of immigrants aged 25 and over had at least a bachelor’s degree and 6.4% held an advanced degree such as a master’s or doctoral degree, which attracted much-needed talent to Tyler, according to the AIC. .

In addition, immigrants have strengthened the local labor market, allowing companies to keep jobs in the United States.

According to the study, this helped create 900 local manufacturing jobs that could be dispersed elsewhere.

The total value of immigrant household assets in 2019 was over $844 million, according to the report.

“In terms of home ownership, 71% of immigrants own their own home, which again contributes to the growth and economic viability of our Tyler metro area,” Rangel said.

Additionally, 29% of immigrants rented homes in Tyler, generating $19.7 million for the economy.

Read more in the full report here: www.americanimmigrationcouncil.org/research/new-americans-in-tyler.

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