July 16, 2025 9:20AM # Immigrants Benefit US Economy and US-Born Entrepreneurs By [Jeffrey Miron](https://www.cato.org/people/jeffrey-miron) and Jacob Winter --- SHARE Listen to this article Generated with [ ElevenLabs](https://elevenlabs.io/) AI technology. Loading the [Elevenlabs Text to Speech](https://elevenlabs.io/text-to-speech) AudioNative Player... President Trump has [pledged](https://www.politico.com/news/magazine/2024/12/29/mass-deportation-immigration-history-00195729) to conduct the largest mass deportation campaign in American history. Fulfilling that pledge would [harm](https://www.cato.org/white-paper/fiscal-impact-immigration-united-states) the country in many ways, including by weaking American entrepreneurship. A [recent study](https://www.cato.org/research-briefs-economic-policy/native-immigrant-entrepreneurial-synergies) confirmed that, > Start-ups founded by native-immigrant teams outperformed start-ups founded solely by natives or immigrants. Three years after their inception, start-ups with native-immigrant teams employed 20 percent more people than native-only start-ups. Furthermore, > Native-immigrant start-ups were also significantly more likely to receive funding than native-only start-ups, and they raised substantially more capital than both native-only and immigrant-only start-ups. Start-ups with native-immigrant teams were also more likely to be acquired and more likely to initiate an IPO than either native-only or immigrant-only start-ups. The authors provide evidence for three explanations: > \[Native-immigrant startups\] had access to a more diverse, highly skilled labor pool… greater access to investor capital… \[and\] greater access to product markets. This study highlights ([yet again](https://www.cato.org/blog/immigration-benefits-destination-country)) that immigrants benefit the American economy. *This article appeared on* [*Substack*](https://jeffreymiron.substack.com/) *on July 16, 2025.* ##### Related Tags [Economics](https://www.cato.org/economics), [Immigration](https://www.cato.org/immigration) [![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/).