Immigrants Create Businesses, Small and Big

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Anyone who has been to Flushing or Hempstead knows that immigrants create small businesses. A new study shows that throughout our history they have also created some of our biggest, as well.

A report from the Partnership for a New American Economy shows that more than 40 percent of the Fortune 500 corporations were founded by immigrants or their children.

According to the report:

The revenue generated by Fortune 500 companies founded by immigrants or children of immigrants is greater than the GDP (gross domestic product) of every country in the world outside the U.S., except China and Japan.

The reason immigrants and their children are such good job creators?

The research shows the attribute of risk-taking that results in immigrants taking a chance on a new land in many cases can be passed along to their children.

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Patrick Young blogs daily for Long Island Wins. He is the Downstate Advocacy Director of the New York Immigration Coalition and Special Professor of Immigration Law at Hofstra School of Law. He served as the Director of Legal Services and Program at Central American Refugee Center (CARECEN) for three decades before retiring in 2019. Pat is also a student of immigration history and the author of The Immigrants' Civil War.

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