Lack of H-1B Visas affecting New York City’s Global Standing?

From Greg Siskind’s blog:

Businesses Say New York’s Clout Is Emigrating, With Visa Policies to Blame

By PATRICK McGEEHAN and NINA BERNSTEIN
Published:
March 24, 2008

New York officials have long taken pride in the city’s status as a global gateway. But lately, senior executives of some of the country’s biggest corporations, like Alcoa, have been complaining that American immigration policies are thwarting New York’s ability to compete with other world capitals.

Every big employer in the city, it seems, can cite an example of high-paying jobs that had to be relocated to foreign cities because the people chosen to fill them could not gain entry to the United States. >>read on

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Microsoft Chairman Urges Change in Immigration System

According to a news report from AFP, Microsoft Chairman Bill Gates is urging congress to change the current state of the U.S. immigration system to help prevent outsourcing and making it possible for US firms to attract and retain high-skilled immigrants.

During a hearing with the House of Representatives Science and Technology Committee, Gates said, “Congress's failure to pass high-skilled immigration reform has exacerbated an already grave situation." And that, “As a result, many US firms, including Microsoft, have been forced to locate staff in countries that welcome skilled foreign workers to do work that could otherwise have been done in the United States, if it were not for our counterproductive immigration policies."

Gates called on lawmakers to increase the number of H-1B visas available to companies. This, he said, in turn would increase employment of US nationals adding that for every H-1B hire that is made, an average of four additional employees to support them in various capacities is hired.

The Microsoft Chairman finished by saying, “If we don't reverse these trends, our competitive advantage will continue to erode. Our ability to create new high-paying jobs will suffer."

The full article can be read here

source: Tight US immigration forces outsourcing: Bill Gates

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