New York’s Tech Valley may be at risk of economic disruption from the outflow of tech talent as the result of current U.S. immigation. According to the Pew Research Center, New York City racked up the most H-1B visa approvals between 2010 and 2016, with 29 percent of the total.
The Washington Post reports that highly skilled foreign workers and the American firms that employ them are in a bit of a visa panic over President Trump’s vowed to crack down on the H-1B visa program. The tech-to-work program allows 85,000 foreigners per year to work in “specialty occupations” in the United States. But there are no new rules yet, creating a climate of uncertainty and fear in U.S. technology and innovation hubs.
Canadian businesses sense an opportunity. The Canadian tech scene has sought for years to compete with Silicon Valley, trying to lure talent north. In the early days of the Trump administration, “moving to Canada” talk surged among Americans, but most foreign workers have waited. Today, than 2,000 companies have applied to hire Talent Stream workers, the department for Immigration, Refugees and Citizenship Canada said in a recent statement.