This study analyzes the effect of immigration on economic performance in the United States using state-level macroeconomic outcome variables such as GDP growth, per-capita income growth, and the native employment-to-population ratio. Our identification strategy uses the popular shift-share instrument which generates variation in measures of regional immigration by using the past settlement of immigrants from each region and adjusting them by subsequent national immigration rates. Our results indicate that immigration has led to slower economic growth over the short run, but these negative effects dissipate over the long run.