Road to Permanent EB-5 RegCtr Program: IIUSA September EB-5 Events Summary

10.03.11 | Archived

Last month, we hosted the IIUSA EB-5 Regional Center Advocacy Conference, surrounding various EB-5 meetings with the federal government.  I am pleased to provide the following summary.

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Wednesday September 14, 2011

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Meeting with Chairman of the House Judiciary, Honorable Representative Lamar Smith (TX)

Prior to the House Judiciary Subcommittee hearing later in the day, IIUSA leadership and hearing witnesses attended a meeting with the Honorable Chairman of the full House Judiciary Committee, Representative Lamar Smith (TX).  We had the opportunity to present the EB-5 Regional Center story, in terms of economic development and U.S. job creation at no cost to the American taxpayer, and answer any questions that he had prior to the hearing.

IIUSA Leadership and Hearing Witnesses Meeting with Chairman Smith

IIUSA Leadership and Hearing Witnesses Meeting with House Judiciary Chairman Lamar Smith (TX) (photo provided by Civitas Capital)

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House Judiciary Subcommittee on Immigration, Policy & Enforcement Hearing:

“Immigrant Investor Visa: Key to Creating American Jobs”

Thanks to the excellent testimonies by EB-5 witnesses William J. Stenger (President/CEO, Jay Peak Resort; Director, IIUSA) and Daniel J. Healy (Managing Director, Civitas Capital – City of Dallas Regional Center; Member, IIUSA), the hearing was a success, with proceedings indicating continued bipartisan support for the EB-5 Regional Center Program.  EB-5 witnesses told their stories of economic development, fielded questions about why foreign direct investment (FDI) is important in the 21st century economy, and how to deter improper use of the Program.

House Judiciary Subcommittee Hearing - Immigrant Investor Program: Key to Creating American Jobs

House Judiciary Subcommittee Hearing – Immigrant Investor Program: Key to Creating American Jobs (Photo provided by Civitas Capital)

William J. Stenger (President/CEO, Jay Peak Resort; Director, IIUSA) testifies before Congress about the EB-5 Program.

William J. Stenger (President/CEO, Jay Peak Resort; Director, IIUSA) testifies before Congress about the EB-5 Program. (Photo provided by Civitas Capital)

Daniel J. Healy (Managing Director, Civitas Capital - City of Dallas Regional Center; Member, IIUSA) testifies before Congress about the EB-5 Program.

Daniel J. Healy (Managing Director, Civitas Capital – City of Dallas Regional Center; Member, IIUSA) testifies before Congress about the EB-5 Program. (Photo provided by Civitas Capital)

William J. Stenger (President/CEO, Jay Peak Resort; Director, IIUSA) responds to a question from Congress about the EB-5 Program.

William J. Stenger (President/CEO, Jay Peak Resort; Director, IIUSA) responds to a question from Congress about the EB-5 Program. (Photo provided by Civitas Capital)

A full house at the hearing.

A full house at the hearing. (Photo provided by Civitas Capital)

CLICK HERE to download full video, transcript, and written testimonies.

CLICK HERE to view the hearing statement from House Judiciary Chairman Lamar Smith (TX).

CLICK HERE to download IIUSA’s written testimony.

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“A Conversation with Director Mayorkas: The EB-5 Immigrant Investor Program”

Later that afternoon, USCIS Director, Alejandro N. Mayorkas hosted an open dialogue with various Program stakeholders.  Approximately 25 attended in person and many more listening in via teleconference.  The meeting saw many IIUSA Members provide valuable feedback to the Director, who continues to look for ways to help this Program fulfill its potential.  IIUSA remains supportive of his efforts and was pleased to have so much of his time and attention on this subject.

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“IIUSA EB-5 Regional Center Economic Development Rooftop Reception”

That evening, IIUSA hosted a rooftop reception, with breathtaking views of Capitol Hill, on top of 300 New Jersey Ave NW.  Representative Dan Boren (OK) was in attendance, along with staffers from various Congressional offices, including Judiciary Committee leadership.

IIUSA Rooftop Reception (daytime).

IIUSA Rooftop Reception (daytime).

IIUSA Rooftop Reception (night).

IIUSA Rooftop Reception (night).

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Thursday September 15, 2011

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IIUSA EB-5 Regional Center Advocacy Conference

Over breakfast, sponsored by Wright Johnson, LLC, the morning was kicked off by keynote speaker Aaron Brickman, Deputy Director, SelectUSA (the multi-agency executive initiative to attract job-creating FDI into the U.S.).  He spoke of EB-5 in the context of FDI and the importance of FDI in the 21st century globalized economy.

Following breakfast, attendees heard the latest updates and development with USCIS EB-5 policy, highlighting the meeting with the Director the day before and preparing attendees for the quarterly meeting with USCIS that afternoon.  That panel featured:

Attendees then got a full legislative and advocacy update from IIUSA leadership and government affairs team, with a panel featuring:

Attendees left encouraged about the prospects of IIUSA’s advocacy initiative for quick action by Congress for permanent authorization of the Program and were ready to carry that message to lawmakers on The Hill.
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That afternoon, we attended the USCIS Quarterly EB-5 Stakeholders Engagement.  To our surprises, Director Mayorkas made his second appearance in as many days, assuring stakeholders that USCIS wants to see the Program succeed and attract all the job-creating FDI that the current 10,000 visa allocation permits.
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