EB-5 Regional Centers: An Indispensable Economic Development Tool in the 21st Century
by Peter D. Joseph , IIUSA Executive Director
Published 10/25/16 in EB5 Investors Magazine
Last week IIUSA Executive Director, Peter D. Joseph, had his article on the important economic development made possible by the EB-5 Program featured in the new edition of EB-5 Investors Magazine. From the article:
“The EB-5 Regional Center Program is responsible for tens of billions of dollars in capital investments and tens of thousands of American jobs. It’s critical for lawmakers to understand the detrimental consequences to the U.S. economy if they allow EB-5 to lapse or expire.
It is essential that the EB-5 regional center industry work toward reform, improvement and reauthorization of the program to achieve a more efficient and sustainable program for the future and to ensure it can continue, without a lapse, to provide investment and jobs to American communities, both big and small.
From 2005 to 2015, over $15 billion in foreign direct investment (“FDI”) flowed into the U.S. from across the world thanks to the program. During this time, and especially in the years that followed the Great Recession, the program became a potent economic development tool for diverse communities and industries across the country. More than $14 billion of over $15 billion in EB-5 capital was invested in the U.S. in the years following the financial crisis of 2008.”