creation of U.S. wealth
In 2010, Fortune 500 companies founded by immigrants to the United States generated more than
$1.7 TRILLION IN REVENUES. In 2010, companies founded by immigrants or children of immigrants generated more than
$4.2 TRILLION IN REVENUES. by either an immigrant or the child of someone who immigrated to the United States generated more than $4.2 trillion in revenues in 2010. That means if all those “New American” firms came together as a country, they’d have the third largest GDP in the world outside the United States, behind only China and Japan. |
SUMMARY: The statistics above demonstrate the great extent by which immigrants and their children have created countless of opportunities of other U.S. citizens-- for employment and wealth. However, the report also covered real stories in history, where immigrant entrepreneurs have been proved capable of founding major U.S. firms and economically regenerating entire geographic areas as well. This section of the report uses the story of Hugh J. Chisholm--founder of the International Paper in 1898-- as an example of an individual (immigrant) who significantly contributed to U.S. wealth and economic stability within certain regions. This company received more than $25 billion in revenue in 2010. His father passed away when Chisholm was 13 years old. He was forced to leave school in order to work to support his mother and siblings in a low-status job of digging for potatoes. He later achieved his dream of coming to the U.S. in search for better opportunities by moving from Toronto to Detroit, MI. His first form of employment in America was selling newspapers on a luxury train. Chisholm then later found his first success by making some of the U.S.'s first postcards. Then in 1898, he founded the International Paper Company, a firm that merged 17 paper mills from around the Eastern Seaboard--based in Maine. He used millions of dollars to build a new city, a few miles from Canton, which consisted of wilderness. Just the year before. This new town had a railroad depot, and the beginnings of a 1500-foot deep canal which would employ about 3,000 people.
ANALYSIS: Thus, the story of Chisholm, is a story of success in the America. U.S. is has always been a destination of choice for beginning immigrant entrepreneurs. The forward-thinking, creative nature of “New American” entrepreneurs has also led many of them to spur success and economic development. Even throughout history, immigration has molded the dynamic of American society and it's idolized reputation-- the land of opportunity, Demonstrated through these specific stories, mentioned throughout the report, immigrant entrepreneurs have created firms that have greatly influenced society through their renovation of geographic areas. Their stories of perseverance and success inspire other foreigners to aspire to achieve the so called, "American Dream". This essentially initiates optimism in "new comers" about achieving economic stability and upward mobility in America, which yields prosperity in the workforce across a variety of sectors through hard work.
ANALYSIS: Thus, the story of Chisholm, is a story of success in the America. U.S. is has always been a destination of choice for beginning immigrant entrepreneurs. The forward-thinking, creative nature of “New American” entrepreneurs has also led many of them to spur success and economic development. Even throughout history, immigration has molded the dynamic of American society and it's idolized reputation-- the land of opportunity, Demonstrated through these specific stories, mentioned throughout the report, immigrant entrepreneurs have created firms that have greatly influenced society through their renovation of geographic areas. Their stories of perseverance and success inspire other foreigners to aspire to achieve the so called, "American Dream". This essentially initiates optimism in "new comers" about achieving economic stability and upward mobility in America, which yields prosperity in the workforce across a variety of sectors through hard work.