With the first quarter of 2014 behind us, it is a good time to reflect on the consistent positive media coverage of the
EB-5 Regional Center Program thanks to your hard work in the last few months. IIUSA’s members bring in over 95% of the capital invested in the Program, accounting for impressive contributions to the American economy. The IIUSA-commissioned, peer-reviewed 2012 Economic Impact Report (release in February) revealed the EB-5 Program to have contributed $3.39 billion to U.S. GDP and supported over 42,000 U.S. jobs during fiscal year 2012, while generating over $712 million in federal/state/local taxes.
The March release of IIUSA’s Regional Center Business Journal(available online), themed “Follow the Data,” is a testament to IIUSA’s dedication analyzing the data and demonstrating the vitality of the EB-5 Program. As you will read from the quotes and articles below, more and more, reporters are writing about how the local impact of foreign investment through the EB-5 Program is spurring regional economic development and job creation.
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“These are people you want in this country [EB-5 investors]. These investors are highly successful entrepreneurs in their own countries. They are hungry and motivated to be successful here.”
-Tom Rosenfeld, President, CanAm Enterprises; Director, IIUSA
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“This is something that’s already happening and we’d like to encourage more of these projects to come to Carson, and invest in Carson, and create jobs in Carson. With the loss of the Redevelopment Agency, we don’t have a lot of financing tools like we used to, and we have a number of very important projects.”
-Barry Waite, Business Development Manager, Carson City, CA
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“We’ve followed their progress very carefully. And what Jay Peak and Bill Stenger have accomplished is tremendous and we hope that we can do something similar here at Mount Snow. We think we can.”
-Dick Deutsch, Partner, Peak Resorts/Mount Snow
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“Foreign investors paid for the Brewhouse Inn & Suites hotel, and 60 have agreed to finance an upcoming renovation of a former brewery building for a 360-unit student housing facility.”
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“For many small to mid-sized US businesses, the EB-5 program fills a gap left after credit dried up in recent years. Despite almost $200 billion in government bailout money given to the US banking industry after it created the global financial crisis of 2008, loans to US small businesses declined by 27% from June 2008 until June of last year.”
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“A federal program that encourages foreign investment in the U.S. more than doubled in 2012, spurring nearly $3.4 billion in economic activity in the U.S. in 2012. The federal EB-5 program supported more than 42,000 jobs in the U.S., according to a study commissioned by the Association to Invest in USA (IIUSA).”
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“EB-5 projects in Cleveland – including the Ernest & Young office building and University Hospital – have generated about 2,000 new jobs.”
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“The United States has been the world’s largest recipient of foreign direct investment (FDI) since 2006. Every day, foreign companies establish new operations in the United States or provide additional capital to established businesses. With the world’s largest consumer market, skilled and productive workers, a highly innovative environment, appropriate legal protections, a predictable regulatory environment, and a growing energy sector, the United States offers an attractive investment climate for firms across the globe.”
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“Global foreign direct investment is undergoing a seismic shift as emerging markets countries are seeing both inflows and outflows rise dramatically-despite flat overall levels of global FDI.”
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“Its [Cleveland International Fund] representatives seek out immigrant investors and connect them to projects in Cuyahoga County that need financing. That effort has helped to build a hotel and office tower in the Flats and fund expansions at University Hospitals.”
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