New York, NY – On July 10, 2017 the United States Department of Homeland Security (DHS) announced that it would be delaying the effective date of the International Entrepreneur Rule

(IER) – federal regulation that would have allowed foreign entrepreneurs with financial backing to start companies in the United States. Assemblywoman Nily Rozic (D,WF-Fresh Meadows) issued the following statement on the final day for public comments:

“We must keep the International Entrepreneur Rule if New York is to continue being the hub of entrepreneurship, innovation and job creation. Start-up visas attract talented leaders in the global economy – a goal that we should be enhancing not rejecting. It would have increased our talent pool and brought significant scientific, technological and business innovations. It should not be hard to see the value in welcoming international intellectual and entrepreneurial talent to come to New York.

It is in our state’s best economic interest to welcome immigrant entrepreneurs. Beyond that, it makes our communities more vibrant and engaging. New York has always been a melting pot of different cultures open to diverse cultures, and should remain so.”

The IER was originally proposed by former President Barack Obama and was set to take effect on July 17, 2017. The DHS temporarily delayed the effective day until March 14, 2018 and opened up a public comment period to determine whether the regulation should be eliminated pursuant to President Trump’s Executive Order, “Border Security and Immigration Enforcement Improvements.”

Under the Obama Administration, it was estimated that approximately 3,000 entrepreneurs would have been eligible work in the United States. Roughly a third of U.S. tech firms are founded by immigrants, and employ an average of 21.37 people per company.