Overview

Employers across all industries are engaged in a high-stakes global race for the best and brightest. As a result, the size, quality and diversity of the talent pool in a city or country are the first criteria of business in determining where to locate jobs. Over the past decade, New York and other U.S. employment centers have been put at a severe competitive disadvantage because of increasing restrictions on the movement of foreigners in and out of the United States

The Partnership for New York City conducted an unprecedented survey of international companies in its membership that have headquarters or major operations in New York in order to better understand how this city is stacking up in the race for global talent. The results were alarming. Thousands of jobs are being lost or relocated for reasons that New York City and State government can do very little about: America’s visa and immigration policies.

21%

of US H-1B visas are concentrated in the New York Tri-State.

Report Highlights

US visa policy has created obstacles to competitiveness for US employers:

H-1B Visas
The most serious problem for New York business is the cap on professional visas, known as H-1Bs.

Limited Mobility
In general, businesses express frustration with the impact of U.S. policies on international mobility that makes the U.S. a less competitive location for recruitment, education, training, meetings and special events.

Key Takeaways

Effective visa reform will help both to safeguard American jobs and create opportunities for business expansion at a time when the economy needs it most.

The Partnership for New York City intends to join with representatives of other metropolitan business organizations to make the case for federal action on visa and immigration issues. This policy brief is only the first step.