As the U.S. continues to welcome refugees, their contributions are having a positive impact on the economy. A new report from the American Immigration Council finds that the almost 2.4 million refugees included in the council’s analysis earned a collective $93.6 billion in household income in 2019.

In addition, refugees contributed $25 billion in taxes. As a result, refugees had more than $68 billion in disposable income, or spending power, to use at U.S. businesses.

Many refugees receive assistance when first entering the U.S. However, within 5 years, most have improved their economic situation. Refugees in the U.S. for five years or less have a median household income of roughly $30,500, which increases the longer they are in the U.S. 

By the time a refugee has been in the country for at least 20 years, their median household income reaches $71,400—$4,300 more than the median income of U.S. households overall.

The number of refugees who are seeking out entrepreneurial pursuits is also increasing, reaching 188,000 or 13 percent of refugees in 2019 compared to just 11.7 percent of non-refugee immigrants and 9 percent of the U.S.-born population. Refugee entrepreneurs also generated $5.1 billion in business income in 2019.

The economic impact of refugees has been felt in several states including North Carolina, Michigan and Massachusetts. In California, their spending power totals more than $20.7 billion, while in Texas it has reached more than $5.4 billion.

In Buffalo, New York, the “refugee renaissance” has been credited with transforming the city, revitalizing abandoned areas and bringing back factory workers. Refugees have also been credited with improving the safety of these communities.