On Monday, June 22, 2020, President Trump issued a proclamation extending the administration’s immigration ban on certain nonimmigrant visa categories including H1-B, J-1, and L-1. The “Proclamation Suspending Entry of Aliens Who Present a Risk to the U.S. Labor Market Following the Coronavirus Outbreak” will take effect on June 24, 2020, and will be in effect through December 31, 2020.
The proclamation does, however, exempt EB-5 again recognizing the Program’s vital contributions to U.S. economic development and job creation. The EB-5 Regional Center Program has proven itself to be a vital financing and job creation tool in communities all across the country. As an industry, we look forward to rising to the challenge of creating American jobs when they are needed most and we were pleased to see EB-5 exempted.
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Since 2008: The EB-5 Program Has Supported the Creation of 1,250,000 + American Jobs!
Between FY2014-FY2015 alone the EB-5 Program facilitated $10.98 billion of capital investment in projects throughout the U.S and supported more 355,000 U.S. jobs according to IIUSA’s latest peer-reviewed economic impact report.