Center for American Entrepreneurship Applauds Biden Administration Decision to Withdraw a Proposed Rule to Terminate the International Entrepreneur Parole Program
May 10, 2021
WASHINGTON, D.C. – John R. Dearie, President of the Center for American Entrepreneurship, issued the following statement today regarding the Department of Homeland Security’s announcement to withdraw a proposed rule issued by the previous Administration to terminate the International Entrepreneur parole program (IER):
“The Center for American Entrepreneurship applauds the Biden Administration’s decision to withdraw a proposed rule issued by the previous Administration to terminate the International Entrepreneur parole program. The preservation and full implementation of the IER provides a legal framework within which foreign-born entrepreneurs may enter the United States for the purpose of launching and growing new businesses that will help drive innovation and economic growth, and create new jobs for Americans.
The IER was established by the Obama Administration in 2016 to allow certain international entrepreneurs to be considered for parole (temporary permission to be in the United States) in order to start or scale their businesses in the United States. On May 29, 2018, however, the Department of Homeland Security (DHS) announced its intention to terminate program.
On June 21, 2019, CAE submitted a letter of comment to DHS challenging the Trump Administration’s reasoning for terminating the rule and urging the Department to reconsider.
In its letter, CAE pointed out that foreign-born entrepreneurs have been a prominent feature of America’s economic landscape for decades. Iconic American companies founded or co-founded by immigrants include Dow, AT&T, Intel, DuPont, Levi Strauss, Anheuser-Busch, Pfizer, Sun Microsystems, Google, Yahoo, eBay, YouTube, PayPal, Tesla, Facebook, and LinkedIn.
A study released by the Center for American Entrepreneurship in December of 2017 found that 43 percent of Fortune 500 companies – and 57 percent of the top 35 companies – were founded by immigrants or a child of immigrants. These companies are headquartered in 68 metro areas across 33 states and employ millions of Americans.
It is also important to emphasize that the United States is one of only a few industrialized nations that does not have a visa category for foreign-born entrepreneurs. In recent years, many other nations – including China, Canada, Germany, France, New Zealand, Australia, Chile, and the UK – have overhauled their immigration laws to attract foreign-born entrepreneurs, including American entrepreneurs.
Given the importance of thriving entrepreneurship to the vitality of the U.S. economy – and the historical importance of immigrant entrepreneurs to American entrepreneurship – U.S. policymakers should do everything possible to attract foreign-born entrepreneurs to launch their businesses in the United States and to create jobs and opportunity for American citizens.
CAE thanks the Biden Administration for its recognition of the value of foreign-born entrepreneurs and looks forward to working with the Administration to ensure that the United States remains open to and welcoming of their contributions.”
The Center for American Entrepreneurship (CAE) is a nonpartisan research, policy, and advocacy organization whose mission is to engage and educate policymakers in Washington, and at state and local levels across the nation, regarding the critical importance of entrepreneurs and start-ups to innovation, economic growth, and job creation – and to pursue a comprehensive policy agenda intended to significantly enhance the circumstances for new business formation, survival, and growth.
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