The EB-5 Regional Center Program has been increasingly present in national and local media in 2016. With Senate and House Judiciary Hearings, a Presidential election, and general industry stories and events, EB-5 is more relevant than ever.
Below are a selection of the best stories and quotes from the beginning of 2016 which demonstrate the various ways which EB-5 investment is working for local communities all across the United States.
- Targeting EB-5 for the Inner City: ICIC Weighs in on Senate Discussion 3/4/2016 by Kate Allgrove, Initiative for a Competitive Inner City
“Created to be economic stimulants with built-in requirements for job creation in American communities, the goals connected to these visas mirror ICIC’s mission to drive economic outcomes of job creation, income and wealth in local economies. With that in mind, ICIC sees EB-5 as a tool that could greatly benefit U.S. inner cities, if used to do so.”
- Developers say Family key to Bright Oaks in Aurora 2/23/2016 by Steve Lord, The Beacon News
“Bright Oaks of Aurora created about 100 construction industry jobs throughout development, and will have more than 50 full- or part-time jobs upon opening, officials said. The jobs include nurses, aides, other medical and personal care providers, physical therapy specialists and administrators.”
- Three Alternatives to Venture Capital 2/10/2016 by Yan Revzin, Forbes
“Starting or growing your business takes a certain amount of capital. It’s not always easy for people, especially new and younger entrepreneurs, to raise money in conventional ways. Business loans can be difficult to secure unless you have a proven track record or substantial collateral to secure the loan. More and more people are now seeking innovative ways to raise capital. … The EB-5 Immigrant Investor Program was started by the U.S. government to encourage investors from around the world to invest in U.S. businesses. It provides a strong incentive to foreign investors by providing them with EB-5 visas in exchange for investing in businesses that provide jobs to workers in the U.S. Although this program has been in effect since 1992, it is not widely known.”
- Statement of the Honorable John Conyers, Jr. at hearing on the EB5 Immigrant Visa Investor Program 2/11/2016
“I believe that the EB-5 Program can have a positive impact on distressed urban and rural communities by providing a source of jobs and investment. However, there are fundamental questions about how the Program is currently being used and whether adequate integrity safeguards exist.”
- Lighthouse Point construction finally taking shape 2/12/2016 by Tracey Porpora, Staten Island Live
“With the commencement of this project, all of the so-called ‘Core Four’ projects that will transform our St. George/Stapleton waterfront are now underway. For decades there have been discussions about how to revitalize this area, and it is finally happening right before our very eyes.”
– Staten Island Borough President James Oddo about Lighthouse Point
- Capitol Hill Outlook, Part 1: Building on Success 2/8/2016 by Amanda Marsh, Commercial Property Executive
“It’s been used to generate capital for a wide range of projects, from office to mixed-use to affordable multifamily housing.”
-Stockton Williams, Executive Director of ULI’s Terwilliger Center for Housing on the EB-5 Program
- Metro Indy Leaders Target Foreign Investment by Dan McGowan, Inside Indiana Business
“The chamber says Indy’s participation follows an extensive application process and it received the nod for its “readiness and commitment to strategically pursue foreign direct investment through such activities as greenfield expansions, mergers and acquisitions, and other types of foreign investment including EB-5, private equity, joint-ventures and sovereign wealth funds.”
“For the regional economy to thrive, we must grow regional businesses and attract talent on a global scale. We’re honored to be among world class peer cities in this cohort and look forward to developing this strategy and broadening the opportunities available for Indy businesses on the global stage.”
-Indy Chamber Chief Executive Officer Michael Huber
- Explosion of Development Seen in Downtown Milwaukee 1/14/2016 by Marti Mikkelson, NPR News in Milwaukee
“It provides an opportunity for foreign investors to invest in different types of real estate projects to create jobs in exchange for green cards for themselves and their families. That project has funded most of the new hotels that have been built in the past eight to 10 years.”
-Milwaukee Alderman Bob Bauman
- Developers to start $12 million Vinegar Flats Public Market project this year 1/14/2016 by Kevin Blocker, Journal of Business
“We want to bring youth, energy, excitement and cultural diversity to downtown Spokane. We are hoping that a successful EB-5 development will lead to additional projects, new sources of capital investments, and create new jobs for our community. Our project has the potential to brand Spokane to a larger international audience.”
-Jonathan Chan, Spokane Business Owner
