Hi Tony,
Static Entities with so many records is useless, and not good practice! The main use for Static Entities are 1) as a developer, being able to use a (hopefully) meaningful identifier instead of some magic hardcoded value, and 2) as a user, being able to select a value from a combo box. In both cases the number of records should be limited for any practical use. So in your case I think you should not use Static Entity
Thanks
CV SHARMA