What’s an efficient way to create more jobs in the United States? Give startup visas to those living outside the country.
According to the Phoenix Business Journal, 1.6 million jobs could be created by granting visas to foreign business owners over the next 10 years.
The process would be in conjunction with the Startup Act 3.0, which would grant visas to 75,000 foreigners who already are in the U.S. on H-1B visas or F-1 student visas.
If these individuals hire at least two full-time employees (family members don’t count) and invest or raise at least $100,000 for their business in the first year, their visas would be extended for three years. After three years, if these entrepreneurs have hired, on average, one additional employee per year, they may apply for a green card, giving them permanent resident status in the U.S.
Phoenix Business Journal noted that Arizona offers more startup visas than any other state, which could mean a massive increase in job opportunities for Arizonans in the coming years.
- Telecommuting: 5 tips to make it work for employers and employees
- See how top CFOs feel about economic growth in the Valley
- Migraine myths that keep patients from effective treatments
- Here’s why Gaydos went tankless with his water heater
- 12 things to watch before the Oscars
- Bocce ball and basketball: How you can help Arizona's Special Olympics athletes
- Tips on building the best wine room in Arizona
- Avoid the nightmare: 6 tips to choose a great contractor
- Breast cancer: Improved testing and treatments means more survivors
- Best and worst of Super Bowl commercials
- Failed back surgery: New hope for patients living in pain
- Ticking time bombs: Telltale signs your water heater is about to explode
- Reading glasses could be a thing of the past
- 6 cool ways teachers are using technology in the classroom
- Emerging tech jobs in Phoenix and how to get one in 2017
- 4 top treatments athletes use for pain
- Emergency! What to do when bathrooms flood
- Operation Santa Claus needs holiday help
- This college bowl season is likely to be epic
- Arizona kids in crisis: How you can help
- 11 holiday classics for the ultimate movie marathon
- New treatment offers hope for migraine sufferers
- 11 stadiums to watch your favorite football team
- Shopping for a TV? Best models for 2016
- The new beer pairing guide for holiday foods
- Avoid this holiday plumbing disaster in your home
- 7 tips to avoid holiday weight gain
- New treatments mean better prostate cancer survival rates
- 5 of the scariest things found in drains
- 6 tips to create the best family movie night