Report: Immigrants make up more than one-third of San Francisco population, with $7.1 billion in spending power

FILE - In this Monday, May 12, 2008 file photo, the "Painted Ladies," a row of historical Victorian homes, underscore the San Francisco skyline in a view from Alamo Square. Real estate brokerage Redfin analyzed home sales over the past 24 months in 20 major U.S. cities, breaking down the data by neighborhood. Many of the cities reflect home values that have outpaced wages over the past 15 years, causing their neighborhoods to mirror a broader national wealth gap. San Francisco, for example, enjoys the benefits of tech fortunes, but its homes are largely unaffordable for the police officers, firefighters and teachers the city needs. (AP Photo/Marcio Jose Sanchez)

SAN FRANCISCO (BCN) — Immigrants make up more than a third of San Francisco’s population and make a large contribution to the local economy, according to a new report released Tuesday.

Immigrants in San Francisco have around $7.1 billion in spending power and pay more than $2.5 billion in total taxes each year, $1.7 billion on which goes to the federal government, according to a report from the immigration advocacy group New American Economy, which is made up of business and political leaders.

Around 70 percent of the city’s immigrant population is working age, and it includes more than 12,500 immigrant entrepreneurs, the report states.

In San Francisco, 145,946 immigrants are eligible to vote, and 37,279 own homes.

“Immigration helps power the local economy,” San Francisco Immigrant Rights Commission Chair Celine Kennelly, executive director of the Irish Immigration Pastoral Center, said in a statement. “This data is more
evidence that immigrants have contributed significantly to the City’s cultural and economic success.”

The study released Tuesday is based on 2014 economic and tax data and includes information for 435 congressional districts, the 55 largest cities in the United States and all 50 states.

Nationally, the nation’s more than 40 million immigrants earned $1.3 trillion in 2014, contributed $105 billion in state and local taxes, paid almost $224 billion in federal taxes and had a collective spending power of nearly $927 billion, according to the study.

Around 19.1 million were eligible to vote.

For more information on the report, go to www.newamericaneconomy.org.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s