In 2011, IIUSA compiled and archived 22 articles from major new sources across the nation. Each article highlights an aspect of or project funded by the EB-5 Visa program. Which has, according to Wendy Culverwell of the Portland Business Journal, since its inception, “Generated more than $2 billion in investments resulting in 41,000 Jobs in the U.S.”
This last year saw a lot of EB-5 activity. In an article run by Vermont Business Magazine titled, “Jay Peak’s Stenger testifies before US Senate on EB-5 reauthorization.” US Senator Patrick Leahy states that, “In 2011 alone, the EB-5 program is on track to create an estimated 25,000 jobs, and provide direct investment of $1.25 Billion dollars.”
In the 22 EB-5 focused articles, projects or regional centers in 13 states were mentioned. They were: California (2), Colorado, Florida (2), Massachusetts, New Hampshire, New York (2), Ohio (2), Oregon, Pennsylvania, South Dakota, Tennessee, Vermont (3), and Washington State (3).
Regional Center operator CanAm Enterprises work with 26 immigrant investors and the Temple University Health System was highlighted by the Digital Journal in their article, “CanAm Enterprises’ EB-5 Loans to Temple University Health System Repaid in Full.” According to the press release, CanAm was eager to, “report that the TUHS project created in excess of 600 full-time jobs in the United States, more than double that of the 260 required USCIS standard of ten jobs per investor.”
Several of the articles archived in 2011 discussed USCIS’s ongoing relationship with IIUSA and Regional Centers across the nation. Peter Joseph, IIUSA Executive director, is quoted in Samantha Rowan’s piece, “Trade Group Sees Hope For Green Card Investor Program.” offering, “We mentioned a couple of ways to make the program more efficient, with more business-savvy staffing and an easier process and USCIS [Director] Alejandro Mayorkas was very quick to respond.”
The Program is expanding at a rapid pace. There are more Regional Centers and more foreign capital being invested than ever before. It is imperative that the program be made permanent to foster current growth and popularity. US Senator Patrick Leahy (D-VT) reiterates that,” Reauthorization of the EB-5 Regional Center Program should not be controversial. This program has been in existence for 18 years. It is time for a permanent authorization to provide investors with the certainty and predictability they need to invest and conduct business with confidence.”
Given this country’s economic malaise and fiscal imbalances, we – as a nation – must embrace “budget neutral” economic development programs such as EB-5, that are providing much needed investment capital to U.S. businesses at no cost to the American taxpayer.
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PDF versions of the articles used for this article are available by request (info@iiusa.org) and are as follows:
- 2011-12-17 “Foreign nationals arrive in Southwest Florida for a price, creating jobs” By Ben Wolford – Naples Daily News
- 2011-12-14 “Foreign money fund creates U.S. jobs” By Mark Williams – The Columbus Dispatch
- 2011-12-13 “New international fund to help create jobs in central Ohio” By Mark Williams – The Columbus Dispatch
- 2011-12-10 “Wealthy immigrants can invest way to visas” By Lornett Turnbull – Seattle Times Newspaper
- 2011-12-09 “EB-5 to trigger millions for real estate projects” By Wendy Culverwell – Portland Business Journal
- 2011-12-09 “Jay Peak’s Stenger testifies before US Senate on EB-5 reauthorization” – Vermont Business Magazine
- 2011-12-07 “EB-5 investor visas needed for job growth” – South Florida Sun-Sentinel
- 2011-12-06 “SD dairy industry has global flavor” By Tom Lawrence – The Daily Republic
- 2011-12-05 “Green Care Means ‘Go’ to Investors” – Los Angeles Business Journal
- 2011-12-01 “Dream Hotel Project Close to Coming True” By Aaron Blevins – Beverly Press
- 2011-11-28 “Trade Group Sees Hope for Green Card Investor Program” By Samantha Rowan – Real Estate Finance and Investment
- 2011-11-23 “Visas bring foreign capital” By C. Chamber Williams III – The Tennessean
- 2011-11-13 “USCIS works to enhance smart policies” By Alejandro Mayorkas – The Tennessean
- 2011-11-10 “Foreign investor program may remain to create jobs in Whatcom County” By Dave Gallagher – Bellingham Herald
- 2011-11-09 “United States looks to compete against Canada for wealthy immigrants” – By Andy Radia – Yahoo! News
- 2011-11-01 “EB-5 visa program for wealthy investors growing rapidly” – The Denver Post
- 2011-10-25 “Green card program creates jobs, stirs criticism” By Maria Sacchetti – The Boston Globe
- 2011-08-03 “Immigrant Investors Help Foot Bill for NYC Projects” By Daniel Geiger – Real Estate Weekly
- 2011-06-19 “Immigrants Account for 40% of Fortune 500 Companies” By Stuart Anderson – Forbes
- 2011-06-02 “CanAm Enterprises’ EB-5 Loans to Temple University Health System Repaid in Full” – Digital Journal
- 2011-02-02 “Help Fund a Project, and Get a Green Card” By Eloit Brown – The Wall Street Journal
- 2011-01-18 “Resort Draws Investors With Immigrant Visa Program” By Charlotte Albirght – NPR
