Economic Innovation Group

Today, EIG released its latest report, The “Great ‘Transfer’-Mation,” which explores the rising significance of government transfers in the U.S. economy. In 2022, 18% of all personal income in the country came from transfer payments like Medicare and Social Security—a share that has more than doubled since 1970. Our report traces the growth of transfer income over the past several decades and highlights the critical implications for American communities. Here are some other key findings: 📈 By 2022, 53% of U.S. counties relied on transfers for at least a quarter of their total income—up from just 10% in 2000. 👴 An aging population is the main driver behind this shift, with more Americans relying on retirement benefits. 🌎 Regional disparities are stark: some areas like rural Kentucky rely on transfers for nearly 50% of total income, while wealthier metro hubs see much lower reliance. Alongside the full report, we’ve also created an interactive tool so you can explore this data for yourself! Dive into the numbers and see how government transfers have impacted your community over time. Check out the full report and explore the interactive tool here: https://lnkd.in/eFE3ky-s

Small businesses are the backbone of our communities, but they face many challenges, especially in distressed neighborhoods—the U.S. Chamber of Commerce Foundation is on the front lines of empowering small businesses to boost community resilience. Using our Distressed Communities Index (DCI), the Foundation identifies economically vulnerable areas where programs like BizConnect can make the biggest difference. This year, the Foundation’s BizConnect pilot program provided 19 local businesses in San Antonio, Texas, with invaluable coaching, networking opportunities, and financial assistance. The goal? To strengthen communities through small business growth—creating a ripple effect of resilience against economic uncertainty and change. The result? BizConnect participants increased employee counts by 20 percent on average and gave the program a 9 out of 10 for being extremely beneficial to their businesses. 🔍 Learn more about how the Foundation is using the DCI to drive economic empowerment: https://lnkd.in/eUpVdbiR

The communities that could benefit most from access to clean energy are often left behind. Clearloop is changing that by partnering with companies to expand access to solar energy in underserved American communities. Using our Distressed Communities Index (DCI), Clearloop identifies economically distressed areas–such as Panola County, Mississippi–to bring long-term environmental, economic, and social benefits through clean energy investments. 🌞 Project Highlight: Panola County, MS 🌞 Clearloop's three pioneering solar projects in Panola County, MS, will: ✔ Power 3,000 homes with clean energy ✔ Prevent over 1 billion pounds of carbon emissions ✔ Engage local construction and maintenance services ✔ Upgrade local distribution lines ✔ Foster meaningful relationships between corporate partners and the community Clearloop's work is a great example of how clean energy investments can uplift communities that stand to benefit the most, and EIG’s DCI is helping to ensure that their projects create optimal economic, environmental, and health impacts by prioritizing where new solar projects are located. Explore the case study here: https://lnkd.in/eQ9XJABM

EIG’s Benjamin Glasner, PhD sat down with @Spotlight on Poverty & Opportunity to discuss: 💼 Key findings from the American Worker Project. 📈 How the U.S. economy can reach its full potential. Read more here: https://lnkd.in/edWfYFdd

Yesterday, EIG launched The American Worker Project, a new initiative aimed at forging a much-needed consensus on the true conditions and challenges faced by American workers. Today, we dive deeper into the discussion with responses to the project’s findings from two distinguished voices: • Paul Krugman of the New York Times; and • Michael R. Strain of the American Enterprise Institute Their insights enrich our understanding and stimulate discussion on how to best support and empower American workers. Stay tuned as we feature additional thought leaders in the coming weeks, including Steven Davis, Jason Furman, and more, as they contribute their expertise to this important conversation. Explore the American Worker Project and read the latest essays here: eig.org/american-worker

American workers fuel the world's most innovative economy, yet an understanding of how they are doing is obscured by a fog of conflicting narratives and misconceptions. What's the reality? Contrary to the doom and gloom often portrayed, our research shows that American workers are better off than ever before across an array of important measures: • The median worker is better paid and better educated.  • Employers have never offered better or more diverse benefits.  • Long-running surveys show that Americans today are broadly satisfied with their work at levels comparable to prior peak periods. • Moreover, nearly 90 percent are satisfied with their job security—a near-record share. Despite these gains, progress has slowed since 1980, especially compared to the booming post-war years. This dynamic is a key focus of our new American Worker Project. The project aims to forge a new consensus about the condition of American workers. Along the way, we will present new analyses, guest essays from leading experts, survey data on worker sentiment, and practical ideas for how policymakers can accelerate progress where it has fallen short. Tomorrow, economists Paul Krugman and Michael R. Strain respond to our findings in the first two guest essays. Look out for contributions from Steven Davis, Jason Furman, Marianne Wanamaker, Skanda Amarnath, and more in the coming weeks. Explore the project here: eig.org/american-worker

A new national survey from the Economic Innovation Group and Echelon Insights reveals overwhelming support among American voters for increasing high-skilled immigration. Key findings from our survey include: • Three-quarters of American voters support increasing high-skilled immigration. • High-skilled immigration has bipartisan backing, including 86 percent of Biden voters and 71 percent of Trump voters. • More than two-thirds of voters across swing states support increasing high-skilled immigration. • Support for high-skilled immigration remains high despite 67 percent of voters rating economic conditions in the U.S. as “poor” or “not so good.” This strong support for high-skilled immigration presents a unique opportunity for lawmakers to advance skilled immigration policies that unite diverse constituencies and strengthen the U.S. economy. Explore the findings here: https://lnkd.in/ek6tyBzu

Did you know that foreign-born talent is driving groundbreaking innovation in strategic industries? Immigrants are the authors or co-authors of 30% of all patents within these critical sectors, despite constituting only 20% of the workforce. Their impact is profound and shaping the landscape of innovation. Want to know more about the importance of immigrants in our workforce and their contributions to our future? Read more about it at: https://lnkd.in/eiUJqRMt Economic Innovation Group Connor O'Brien Adam Ozimek

“You never know which firm is going to be the next growth firm. So the more shots on goal you have, the better.” The United States hasn't seen this much entrepreneurial ferment in decades. Great to speak with The Economist to capture this important moment:

Skilled immigrants drive economic growth and innovation in the United States. Yet the benefits have been concentrated in coastal metros, bypassing the struggling regions that would benefit most by welcoming an influx of talent. Our new policy brief outlines how a Heartland Visa program would work in practice and illuminates the many ways it would benefit American workers, communities, and the broader economy. The brief maps the 1,700+ counties experiencing economic and demographic decline, demonstrating both a clear need for skilled workers and a capacity to absorb them. Read the brief to learn more about how a Heartland Visa program can reshape America’s economic landscape for the better: https://lnkd.in/eg529Zch