WHAT IS EB-5?
Look out your window. Restaurants, high rise apartments, hotels, and other significant commercial enterprises will bring you face to face with EB-5.
The EB-5 program is an Immigrant Investor Program that Congress created in 1990 to stimulate the U.S economy through job creations and capital investment by immigrant investors by creating new commercial enterprises. This program admits around 3,000 foreign families each year and has created thousands of jobs for U.S workers. The EB-5 program brings in billions of dollars, creates jobs, and cost America nothing. Or does it?
Approximately $21 billion of primarily Chinese investor money has been invested in U.S business through the EB-5 program in the last three years along, creating thousands of direct and indirect jobs for U.S workers. EB-5 has accounted for over $50 billion in new construction projects. In the United States, hundred of projects from hotels to housing projects to elderly care facilities have been built using EB-5 program. Given the dynamic impact on America’s economy, what could be wrong with the program?
President Trump has authorized a short extension of the program to September 30, 2017. He extended the program a few months while Congress considers changes to the EB-5 Program increasing the minimum investment amount and ensure that a fair share is allocated to rural and depressed urban areas that are near military bases. The White House wants to ensure that the program is used as intended and that investment is being spread to all areas of the country
So no matter what part of the country that you look out of the window, you should see EB-5 transforming cities and the U.S. workforce and not just in large metropolitan areas. That is the goal of EB-5.