2016 was an eventful year for the EB-5 industry, which included two successful short-term reauthorizations of the Program. To put the year in perspective, IIUSA compiled a “Year in Review” timeline with important dates, links and events that shaped industry activities and has led to where we are today.
The first quarter of the year included several House and Senate oversight hearings on the EB-5 Program. IIUSA Executive Director Peter D. Joseph served as a witness in the April 13, 2016 Senate Judiciary Committee hearing. Later in April, IIUSA held another successful EB-5 Advocacy Conference in Washington, D.C. which brought over 400 industry stakeholders together for three days of networking, education and advocacy.
The summer months were focused on building industry consensus on policy issues and bolstering the industry’s negotiation capabilities in support of reauthorization of the Program with enhanced program integrity measures and maintaining effectiveness as an economic development tool.
On the investor markets front, IIUSA increased its overseas visibility by participating in international conferences in Geneva, Shanghai, and Hong Kong and also produced its first-ever Investor Markets Report, giving members insight into emerging market trends across the globe.
IIUSA helped garner additional public support for the EB-5 Program, including new and renewed resolutions from outside stakeholder groups like the U.S. Conference of Mayors, National Association of Counties, National Conference of State Legislatures and the Association of University Research Parks, to name a few. Positive media from coast to coast also enhanced our message of American job creation and community development.
This year was one of great progress, setting the EB-5 industry up for a real reform and long-term reauthorization package in 2017.
Without the continued support and engagement by our members, this progress would not be possible. We at IIUSA look forward to continuing to work with you all in the New Year!