Speech #1050019167

Mr. To. born in China. Immigrated to America after being sponsored by his sister. He and fellow immigrant David Sun employ over 500 people and built the company. started as a family based business operating out of a garage. into a company they sold last year for $1 billion. Both Mr. Tu and Mr. Sun took the Si billion In profits from the sale of the company and gave $100 million to their employeon. most of them native born. resulting in bonuses ranging from 3100.000 to $300.000 per employee. "Only In AmerIla." Mr. To testified. "could this happen." Gary MacDonald. a native born employee of Kingston Technology. pointedly noted in his testimony that four of the five highgrowth companies that he has worked for In his career were started by immigrant entrepreneurs. Overall. Immigrants are approximately 10 to 20 percent more likely than the native born to start a new businoss In this country. and more than I in 10 legal Immigrants own their own businesses. In addition. in 1)9. 12 percent of the Inc. 0oa compilation of the fastest growing corporations In Americawere companies started by immigrants. It Is important to have a discussion about both what is right and wrong with different aspects of U.S. immigration policy. But any balanced debate on legal immigration must take Into account the economic and social contributions made by the 1 In 10 legal immigrants who own small and large businesses In this country. I ask unanimous consent that Mr. Coleae testimony be printed In the REcoRD.