Image credit: Syracuse.com and New American Economy
Yesterday Syracuse.com’s article, “Immigrants boosting the economies of Syracuse and Buffalo: study,” highlights the contributions of New Americans to the economy of Central New York. Our Vice President of Economic Inclusion at CenterState CEO, Dominic Robinson, met with Syracuse.com’s editorial board to discuss the study and highlight some of the findings.
“Robinson said immigrants help reduce housing vacancies created by Syracuse’s and Buffalo’s declining population bases and provide labor for jobs, such as low-wage, assembly-type manufacturing, that otherwise might go unfilled.
‘Refugees and immigrant populations are economically important to Central New York as they contribute to the local labor force and to the tax base as the region battles population loss,’ he said.
Although refugees often require social services and other government assistance when they first arrive, the federal government pays most of that cost and it is offset within a few years as they obtain jobs and pay taxes, he said. Key findings about Syracuse from the report, titled ‘New Americans in Buffalo and Syracuse’:
- In 2014, foreign-born residents in Syracuse contributed $1.7 billion to the metro area’s gross domestic product.
- 5,658 refugees resettled in Syracuse between 2009 and 2014.
- 26.2 percent of Syracuse’s foreign-born residents, or 10,707 people, were refugees in 2014.
- Foreign-born residents tend to have higher levels of education than U.S.-born citizens in the Syracuse area. Approximately 30 percent of foreign-born residents and 22 percent of U.S.-born residents in the area have college degrees.
- The top six countries of origin of the foreign-born population in the Syracuse area are China (8.2 percent), Canada (7.8 percent), Cuba (5.1 percent), India (4.3 percent), Ukraine (4.2 percent) and Italy (3.7 percent).
- The foreign-born population in the Syracuse area contributed $140.4 million in federal taxes and $93.9 million in state and local taxes in 2014.
- Foreign-born residents in Syracuse contributed $89.2 million to Social Security and $22.4 million to Medicare in 2014.
- Between 2000 and 2014, immigrants and refugees helped offset decades of population decline in the Syracuse area. During this period, the native-born population declined from 620,928 to 620,631, while the foreign-born population grew 42.5 percent from 28,644 to 40,815.
- Between 2000 and 2014, the increase in the foreign-born population raised the total housing value in the Syracuse area by $406.5 million.
- The Syracuse area’s 1,681 foreign-born entrepreneurs generated $22.3 million in business income in 2014.
- By 2014, the 40,815 foreign-born residents in the Syracuse area had helped create or preserve 1,877 local manufacturing jobs that otherwise may have left the area.”
To read the entire article, click here. To view the report from the New American Economy, click here.