NJ economy: Immigrant impact on Garden State economy ranks No. 3 in the country

New Jersey is ranked No. 3 in the nation in regards to how much immigrants impact the state economy, according to a new study from WalletHub.

The personal finance website compared the economic impact of foreign-born populations on all 50 states and the District of Columbia using data from the Census Bureau, Bureau of Labor Statistics, Department of Labor and other groups to curate its report.

WalletHub says it used 23 key indicators, ranging from median household income of foreign-born population to jobs generated by immigrant-owned businesses as a share of total jobs. The impact scores were categorized by immigrant workforce, brain grain and innovators, socioeconomic contribution and international students.

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Here is a list of how New Jersey ranks in economic impact by immigrants, according to WalletHub.

No. 1 in immigrant workforce

No. 4 in highest median household income of foreign-born population

No. 5 in socioeconomic contribution

No. 4 in brain gain and innovation

No. 22 in international students

New Jersey came in a four way tie alongside Florida, California and New York for first place in highest jobs generated by immigrant-owned businesses out of total jobs, according to the study. Additionally, New Jersey tied California and New York again for No. 1 in highest percentage of foreign-born Science, Technology, Engineering and Mathematics (STEM) out of total STEM workers.

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Overall, do immigrants benefit or drain New Jersey's economy?

"While some are dependent on social welfare programs during the first few years of their arrival, the longer they stay in the United States the more economic benefits immigrants provide to the economy as evinced by their creation of small businesses, the pursuit of higher education, and inter-generational social mobility," Rutgers Professor of Law and Chancellor's Social Justice Scholar Sahar Aziz said in the report. "Contrary to right-wing xenophobic propaganda, immigrants come to America to work hard and economically succeed, not to become public wards."

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New York and California ranked above the Garden State at No. 1 and No. 2 respectively, the report said.

Jai-Leen James is a digital producer at the Asbury Park Press. She can be reached at jtjames@gannett.com or on Twitter @j_james17.