From FY2007-FY2010 8,268 EB-5 visas were issued. FY2009 alone saw over 4,000 immigrant investors take advantage of the Program. In the aforementioned four-year span, over $4 billion in capital was raised, and thousands of local jobs were created
During this timeframe IIUSA tracked a number of articles published by major media sources detailing the Program. EB-5 funded projects in 12 states were discussed, specifically in California, Colorado, Florida, Louisiana, New York, Ohio, South Dakota, Utah, Vermont (4), Washington D.C., Washington State, and Wisconsin.
Commentators theorized the Program’s increased popularity correlates with the recent private lending crunch. Dan Ping levied that a rise in EB-5 Visas and Regional Centers would occur as, “businesses search for capital during a time when the credit markets in the U.S. have tightened significantly.
Ping was right. During FY2007-FY2010 the number of Regional Centers multiplied by ten times. FY2007 started with 11 Regional Centers spread sparsely across the nation, by FY2010 over 100 government approved Regional Centers were in operation.
IIUSA archived articles highlighting multiple projects currently being developed or in the fundraising stage. Author Katy Finneran of Forbes Magazine chose Bill Stenger President of Jay Peak resort as the subject for her January 6th piece titled, “Precious Capital Source for Small Biz.”
In the article Finneran explains that Stenger has raised, “$80 million from 160 investors in 20 countries.”
The EB-5 Program is an important part of the post-recession American economic toolbox. The Program funnels capital into domestic development and local job creation while maintaining budget neutral. Around the world other nations are competing for investors with Visa programs of their own.
Veronica Uy describes, in her Inquirer article “US Wooing Millionaire Immigrants” why the program is not making more noise, stating that, “Underutilization is caused by a confluence of factors, including program instability, the changing economic environment, and more inviting immigrant investor programs offered by other countries.”
A permanent EB-5 Visa program would increase program stability and at the same time make the U.S. foreign investor program more enticing, furthering its ability to generate economic impact in th U.S.
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PDF copies of the articles used for this report are available upon request: info@iiusa.org
- 2010-12-08 “Sugarbush spotlights commitment to lifelong learning with new $10 million family-friendly facilities”
- 2010-06-11 “Immigrant Investors, An Underserved Market” By Lynnette Khalfani-Cox – Wall Street Journal
- 2010-05-26 Want to Become a US Citizen_ Money Talks – CNBC
- 2010-05-10 “Navy Yard Finds Green In Green-Card Program” By Joseph De Avila – The Wall Street Journal
- 2010-03-05 “For Some Immigrants, The Ticket To A Visa Is A Check” – By Rob Smitz – NPR
- 2010-01-10 “Immigrants invest in U.S. businesses in exchanges for visas” By N.C. Alznman – The Washington Post
- 2010-01-06 “EB-5 center could bring investments” By Ed Sealover – Denver Business Journal
- 2010-01-06 “A Precious Capital Source For Small Biz” By Katy Finneran – Forbes
- 2009-12-31 “Recession Fuels Spike In Foreign Investor Visas” By Jennifer Ludden – NPR
- 2009-12-15 “Recession Breathes New Life into US Immigrant Investor Visa Program” By Muzaffar Chishti and Clair Bergeron – Migration Information Source
- 2009-10-23 “Deal will bring jobs to Orleans” By Dan McLean – Burlington Free Press
- 2009-10-20 “An American Dream for Sale” By Irina Aervitz – Russia Profile
- 2009-09-09 “Vermont’s Jay Peak puts EB-5 to work, woos South Korean manufacturer” By Kevin Kelley – Vermont Business Magazine
- 2009-08-15 “U.S. attracts rich foreign investors by expediting green cards” By Kathryn Kroll – The Plain Dealer
- 2009-08-10 “Clamoring for Foreign Capital” By Josh Spiro – Inc.com
- 2009-07-17 “Flex-use building going up on a site near Safeco Field” -By Marc Stiles – Seattle Daily Journal of Commerce
- 2009-04-23 “Fast-tracked family visas can mean commercial investment” By Marilyn Bowden – Miami Today
- 2009-03-26 “Program helps Vermont businesses grow” By Anya Huneke – New England Cable News (NECN)
- 2009-03-19 “US wooing millionaire immigrants” By Veronica Uy – INQUIRER
- 2008-07-28 “Foreigners invest locally in return for green card” By Dan Ping – Orlando Business Journal
- 2008-07-27 “Foremost Dairy an open door to investment” By Dan Voelpel – The News Tribune
- 2008-03-28 “Asian funds sought for redevelopment” By John Schmid – Journal Sentinel (Milwaukee) Online
- 2008-03-16 “For Foreign Investors, Profit Isn’t Only Goal” By Bernstein, Fred A. – The New York Times
- 2007-12-08 “Foreigners Invest Greenbacks in Return for Green Cards” By Cecila Kang – The Washington Post
