Originally published on TheRealDeal.com
TO: New York Real Estate Developers
FROM: The Coalition to Save and Create Jobs
Speak up now or leave billions of dollars of real estate development capital and new jobs on the table, just when New York critically needs EB-5 capital and the jobs it creates, and when much of New York City qualifies for incentivized EB-5 investment. Visit the Coalition to Save & Create Jobs to easily make your voice heard with just a few simple clicks.
The EB-5 Regional Center Program, the hundreds of thousands of new U.S. jobs it can create and save, and the billions of investment dollars it can facilitate will disappear on June 30, 2021 unless the program is reauthorized. Please tell Senator Chuck Schumer you support Senate bill 831 and Representative Jerry Nadler you support House bill 2901 to reform and reauthorize the EB-5 program.
Since 2008, the EB-5 Regional Center Program has:
- created more than 205,000 jobs in New York;
- brought more than $6.5 billion in investment to the state; and
- all at no cost to New Yorkers or the U.S.
Without Senator Schumer and Congressman Nadler’s support, this powerful job creation and economic development tool goes away. Future EB-5 investments and the jobs they will create will be eliminated.
At a time when the country is still reeling from the economic impact of COVID-19, and as once bustling and vibrant cities like New York City are scrambling to recover, letting a program like the EB-5 Program expire should be a non-starter.
Senator Schumer and Congressman Nadler need to hear from you – the individuals and companies in New York that support EB-5 and S. 831/H.R.2901 and stand to benefit from the bills passing, but also that stand to lose if they do not. Keeping the EB-5 Program around could be the difference between getting a project off the ground or it never coming to fruition.
The time to act is now. Please join your fellow New Yorkers in the Coalition to Save and Create Jobs to preserve and improve this vital economic development tool. Additionally, your outreach to Senator Schumer and Congressman Nadler is critical. Take action today, visit https://www.saveandcreatejobs.org/email-key-staff to find an email template and contact information.