Although New England accounts for only a small share of the national requests for visas for highly skilled immigrants, it has some of the highest demand for such visas relative to total employment, according to a new report from the Boston Fed's New England Public Policy Center.
New England accounted for 25,000, or about 7 percent, of the more than 370,000 requests for so-called H-1B visas in 2012, exceeding the region's 5 percent share of national employment, according to the center, and Massachusetts accounts for roughly 60 percent of New England's H-1B visa requests annually. Of those visa requests, 55 percent come from the Boston area, which accounts for just 37 percent of New England's employment.
But despite the demand for highly skilled workers, on Capitol Hill the Republican-controlled House failed to act on a bill the Senate passed last year to raise the cap on H-1B visas from 65,000 to as many as 180,000 per year.
"It's the anti-economy, shoot-yourself-in-the-foot strategy," said Jeffrey Bussgang, general partner at Flybridge Capital in Boston and senior lecturer at Harvard Business School. "I have (international) students in my class who want to start and grow their business here, but are forced to leave. We train them, and then we chase them out the door to create jobs outside the U.S."
To stem that flow of talent, the state enacted the Global Entrepreneur in Residence Program with $3 million from the 2014 Jobs Bill. Under the three-year, pilot program, UMass Boston and UMass Lowell will help foreign entrepreneurs, who started businesses while they earned advanced degrees here, get H-1B visas, said Maeghan Silverberg Welford, chief of staff at the Massachusetts Technology Collaborative. In return, the entrepreneurs will work for the universities part time, helping students launch their own businesses, for 18 months, after which it will be up to the entrepreneurs to apply for another visa or a green card if they want to stay here longer.
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