The Association to Invest In the USA (IIUSA) recently participated in the 2012 CDFA National Development Finance Summit. A strong number of Summit attendees – mostly state/local economic development and finance officials – attended the Pre-Summit EB-5 Financing 101 Workshop on Wednesday August 1st at The Fairmont Washington D.C. from 2pm-5pm on Wednesday August 1. Attendees walked away from the event ready to consider EB-5 capital as a tool for economic development in their communities.
IIUSA Executive Director Peter D. Joseph moderated the Workshop. Featured speakers included IIUSA Vice President Robert Divine (Head of Immigration Practice at Baker Donelson), IIUSA Member and Burr Forman LLP Partner Jennifer Moseley, and IIUSA Member and EB5 Capital President Angelique Brunner. According to CDFAs promotion of the Workshop, “attendees will learn from the top EB-5 experts in the country as they explain how to access the funds, outline the basic requirements, and showcase how this form of financing has filled the gap in recent projects. Case studies and real project examples will be explored with plenty of time for Q&A.” IIUSA delivered exactly what was advertised in a condensed, in-depth 3+ hour session.
In addition to the Pre-Summit EB-5 Workshop, IIUSA and the Council of Development Finance Agencies (CDFA) signed a memorandum of understanding that formalized a strategic partnership between the two organizations. IIUSA is excited to partner with CDFA in EB-5 education and advocacy, with CDFA becoming the preferred development finance education provider to IIUSA members and IIUSA becoming CDFA’s source of EB-5 expertise. This partnership will extend education opportunities on EB-5 rules, regulations, policies, and best practices to the economic development community across the country, and help the EB-5 Regional Center Program be successful along the way. FY2012 is on pace for a record year with over 3,000 investor applications approved through Q3. IIUSA estimates over $2.0BILLION in capital formation and 40,000 U.S. jobs created as a result of FY2012 activities. This newly minted partnership is positioned to play a dynamic supporting role in continuing these record-breaking trends in the years ahead.
With Congress poised to renew the Program for three years in September, IIUSA is pleased to provide the necessary education and leadership to support the EB-5 industry so the next reauthorization is a permanent one. Furthermore, IIUSA could not be more thrilled to have CDFA as an official partner in these endeavors of supporting regional economic development throughout the United States in the years ahead.
The Council of Development Finance Agencies (CDFA) is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation’s leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net.
The Association to Invest In the USA (IIUSA) is a 501(c)(6) not-for-profit industry trade association of active EB-5 Regional Centers (“Regional Centers”), attorneys, financial advisers, economists, broker/dealers, consultants, and other EB-5 related service providers. Regional Centers are private corporations and governmental agencies designated by the U.S. government to allow foreign investors to invest capital in their local economies with the goals of preserving and creating U.S. jobs through economic development.