Last week The Plain Dealer, a Cleveland, OH based newspaper, featured an article by Michelle Jarboe about the EB-5 Regional Center Program’s contributions to the city’s economy, titled: “Cleveland International Fund eye UH projects after raising $45 million for the Flats East Bank.” The article highlights yet another area that the EB-5 Regional Center Program (“the Program”) is contributing to with much needed investment capital and job creation.
IIUSA applauds the project developer for their success on their capital raise and their contributions to the Cleveland economy. This is yet another example of why the Program must be made a permanent tool of economic development. Without it, what would have happened to this major project and the jobs created to complete it? Why deny deserving projects the access to EB-5 invest capital in the future by keeping the Program in “pilot” status?
These are a few of the many questions I have for Congress. Once (or maybe more like “if”) the budget battle currently going on in the Beltway is over, perhaps they will be ready to answer.