DACA-Eligible Population Holds $16.8 Billion in Spending Power
DACA-Eligible populations in Florida, North Carolina, and Georgia held over $400 Million in Spending Power in 2015
NEW YORK, NY - February 6, 2018 (Investorideas.com Newswire) As Congress and the White House attempt to reach a compromise that addresses the status of DREAMers, New American Economy is highlighting the stories and economic contributions of DACA recipients and the DACA-eligible.
The national DACA-eligible population holds almost $16.8 billion in spending power, according to research from New American Economy (NAE). Immigrants support U.S. businesses as consumers—and DACA-eligible immigrants are no different. The DACA-eligible population makes up a strong base of paying consumers that retailers and service providers rely on. As DACA-eligible immigrants grow in their careers, their purchasing power will increase, making them an indispensable resource to the U.S. economy.
Further research from NAE breaks down the DACA-eligible spending numbers by state:
- Nine states- including California, Florida, Georgia, Illinois, New Jersey, New York, North Carolina, Texas, and Washington- see DACA-eligible populations holding over $400 million in spending power in 2015.
- California's DACA-eligible immigrants hold the largest spending power in the nation, with over $4.1 billion.
- Virginia is home to 30,580 DACA-eligible immigrants, who together hold $396.9 million in spending power.
- Ohio's 10,663 DACA-eligible residents hold $139.2 million in spending power.
In addition to economic research on the DACA-eligible population, New American Economy has collected immigration stories from every single congressional district through iMarch.us. Today's story comes from Ovier, a DACA recipient and entrepreneur living in California.
Ovier's parents brought him and his brother to the United States in 2004 for one simple reason: They wanted their children to have the kind of upward mobility that wasn't possible in Mexico. DACA helped make this possible. With this protection, Ovier was able to acquire a Social Security number and a California driver's license, open a bank account, and start his own photography business. "Now I'm able to do business and pay business taxes to the state," he says. "When I hear people say, oh those DACA kids, we pay for them, I can tell you honestly that I'm one of those kids. I'm not using anyone's tax money. All of my education came out of my own pocket or out of my parent's pockets."
Today's release is the eighth in our series on DACA-eligible immigrants' contributions to the economy. Learn more about their income levels, tax contributions, payments into Social Security and Medicare, employment, entrepreneurship, voting potential, and military contributions. Check out all of our DACA-related research here.
About New American Economy
New American Economy (NAE) brings together more than 500 Republican, Democratic and Independent mayors and business leaders who support immigration reforms that will help create jobs for Americans today. Coalition members include mayors of more than 35 million people nationwide and business leaders of companies that generate more than $1.5 trillion and employ more than 4 million people across all sectors of the economy, from Agriculture to Aerospace, Hospitality to High Tech and Media to Manufacturing. Learn more at www.newamericaneconomy.org.
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