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Innovate America Celebrate the Impact of Companies Created by Immigrants

Submitted by on April 30, 2013 – 9:10 amNo Comment | 1,222 views

America is a country of immigrants. America let them innovate, and in return they innovated for America. Innovate America is celebrating their impact by measuring the jobs they created right here in America.

42% of Fortune 500 Companies were founded by an immigrant or their children. These 211 companies produced $5 trillion of revenue (the U.S. GDP is $16 trillion). In Silicon Valley, 44% of startups have an immigrant founder.

Immigrants are often educated at American universities and make up a significant part of STEM (Science, Technology, Engineering, Math) faculties. They generally have to stay in America through an H-1B visa, which allows a U.S. employer to temporarily employ a foreign worker in a specialty occupation. H-1B status is only available to 65,000 workers per year, plus 20,000 for those holding a graduate degree from a U.S. university. This year, the H-1B cap was reached in just five days.

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