With the Program’s expiration date on June 30, 2021, support continues to grow to reauthorize the EB-5 Regional Center Program
WASHINGTON, DC – April 16, 2021 – The Coalition to Save & Create Jobs is pleased to announce that the Asian American Hotel Owners Association (AAHOA) joined its growing ranks to support the bipartisan federal legislation, S. 831 the EB-5 Reform and Integrity Act of 2021, introduced by Senator Chuck Grassley (R-Iowa) and Senator Patrick Leahy (D-Vermont), to reauthorize the EB-5 Regional Center Program. The Program’s current expiration date is June 30, 2021.
The EB-5 Regional Center Program was created to attract capital from foreign individuals who meet specific investment and job creation requirements. For years, EB-5 investments have filled funding gaps and provided vital capital for local economic development projects that create and support jobs, infrastructure, and businesses across the country.
“On behalf of CSCJ, Invest in the USA and its leadership I am pleased and grateful to AAHOA for joining our effort,” said IIUSA Executive Director Aaron Grau. “We’re hopeful that with our growing list of supporters across the country, congressional leaders will bring the EB-5 Reform and Integrity Act of 2021 over the finish line before the June 30 deadline.”
Since its inception, the EB-5 Regional Center Program has drawn in more than $41 billion in capital investment from across the globe to support American businesses and created more than 820,000 job opportunities for U.S. workers.
“The travel industry and especially the hotel business, can and will bounce back from this COVID-19 economic crisis but only with support; specifically, the kind of non-traditional but reliable support offered by the EB-5 Regional Center Program,” said AAHOA President & CEO Cecil P. Staton. “AAHOA is grateful for IIUSA’s work and the opportunity to join the Coalition to Save and Create Jobs. We encourage Congress to pass S.831 and reauthorize the Regional Center Program before June 30.”
For more information on how you can support the Coalition to Save and Create Jobs, visit https://www.saveandcreatejobs.org/join.
About Coalition to Save and Create Jobs
CSCJ (Coalition to Save and Create Jobs) was established to promote economic recovery, development, and growth by assuring the good-government and long-term reauthorization of the EB-5 Regional Center Program through the bipartisan EB-5 Reform and Integrity Act, championed by U.S. Senators Chuck Grassley (R-IA) and Patrick Leahy (D-Vt). CSCJ consists of trade associations, chambers of commerce, municipalities and mayors’ offices, community banks, economic development organizations, health care facilities, and more. For more information, visit: https://www.saveandcreatejobs.org/.
AAHOA is the largest hotel owners association in the nation. The 19,500+ AAHOA Members own almost one in every two hotels in the United States. With billions of dollars in property assets and hundreds of thousands of employees, AAHOA Members are core economic contributors in virtually every community. AAHOA is a proud defender of free enterprise and the foremost current-day example of realizing the American Dream.