Home Economic Development CT immigrant households earn nearly 14 percent of all state income

CT immigrant households earn nearly 14 percent of all state income

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Immigrant-led households in Connecticut earned $18.9 billion during 2014, or 13.9 percent of all income earned, according to data released by New American Economy, a national coalition of 500 mayors and business leaders who support immigration reforms.

The new data determined that there are approximately 494,000 immigrants residing in Connecticut, or 13.7 percent of Connecticut’s population. The data identified 36,028 Connecticut-based immigrant entrepreneurs who generate $1.1 billion in income. And half of the state’s Fortune 500 companies were created either by immigrants or their children.

Furthermore, the study determined that $5.1 billion were paid in taxes by this demographic in 2014, with $1.8 billion in state and local taxes and the rest going to the federal tax coffers. Foreign-born homeowners make up 16.5 percent of Connecticut’s homeowners who have a combined housing wealth of $44.7 billion.

The study also subdivided Connecticut’s illegal immigrant population, with roughly 130,000 residing in the state. The study concluded that undocumented household income totaled $3.1 billion, with $397 million paid in taxes. “While politicians continue to debate what to do about illegal immigration without any resolution, millions of undocumented immigrants are actively working across the country, and collectively, these immigrants have a large impact on the U.S. economy,” the New American Economy study said.

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