Immigrants, migrants and the entrepreneurial economy

by Ryan Streeter on May 1, 2013. Follow Ryan on Twitter.

To provide balance to my last post, Jim Russell highlights the importance of migration and talent attraction from outside to spur economic growth:

A different framework of analysis for economic development is focusing on talent instead of place. For some reason, US immigrants tend to be more entrepreneurial than the general population. It stands to reason that more immigrants will spur job creation. Attracting migrants isn’t about growing the population. The goal is to prime the pump of the regional economy. The quality of the migrants matters more than the quantity…

To plug the brain drain, even if doing so bolsters the population numbers, undermines economic development. Talent retention is a drag on growth…

As more of the world demographically converges, the focus on talent is of greater importance. Winners and losers won’t be defined by population, but by connectivity and churn.

The Kauffman study on immigrants, to which he links, is a worthwhile read.