America’s strength lies not in its uniformity, but in the vibrant diversity of its immigrant community, contributing countless stories of courage, resilience, and the pursuit of opportunity that enrich our nation. As the nation’s largest Black-owned bank, OneUnited deeply appreciates the journey of immigrants and recognizes their immense economic and cultural impact on our country.
Immigrants embody the spirit of resilience and determination. Many have overcome significant hurdles, leaving behind familiar landscapes, loved ones, and cultural norms to pursue their dreams in a new land. Despite these challenges, studies demonstrate that immigrants consistently achieve economic success and contribute significantly to the U.S. economy. They exhibit an exceptional entrepreneurial drive, establishing new businesses at twice the rate of native-born Americans, which ultimately leads to more job opportunities.
Furthermore, about 45% of fortune 500 companies were founded by immigrants and/or their children, creating over 10 million jobs worldwide. According to the CATO Institute, research shows that, on average, “immigrants pay more in taxes than they consume in benefits…” These billions in tax contributions directly support the funding of essential public services, including schools, hospitals, emergency response services, highways, and more.
Their unwavering determination to build a better future for themselves and their families not only strengthens our nation but also serves as a powerful inspiration to us all, reminding us of the boundless potential that lies within the human spirit.