IIUSA Executive Director, Aaron Grau, was recently quoted in a BISNOW article discuss the implications of the EB-5 Regional Center Program’s lapse. Mr. Grau noted the uncertainty surrounding the Program but also the important work that is being done to ensure this valuable job creation and economic development engine is able to continue to support American communities.
IIUSA, its members, and a broader coalition of stakeholders continue efforts to secure long-term and last reform for the Program. Questions can be directed to firstname.lastname@example.org.
EB-5 Program Expires, Throwing Industry Into Uncertainty
by Dees Stribling, Bisnow National
The EB-5 regional center program, which has existed almost continuously for about 30 years, has been plunged into high uncertainty as the deadline for its renewal — the end of June — has passed, with the prospect of movement on its revival at least two weeks away.
“The uncertainty is really the most worrisome thing,” Invest in the USA Executive Director Aaron Grau said. “As to what’s going to happen next, I don’t know. No one does. It’s worth pointing out that in the past, the program has lapsed only because it was tied to the appropriation bill whose later passage was almost certainly assured. This time around, that isn’t the case.”
In other words, Grau said, EB-5 is entering uncharted territory.
“It’s very much a different animal than the lapses that we’d experienced before,” he said. “And so there’s a lot of worry among investors about what happens to their place in line or in seeking their green card application.”