Latino Hotel Association Joins Growing List of Coalition Supporters to Reauthorize the EB-5 Regional Center Program
With the Program’s expiration date on June 30, 2021, support continues to grow to reauthorize the EB-5 Regional Center Program
WASHINGTON, DC – April 20, 2021 – The Coalition to Save & Create Jobs (CSCJ) is pleased to announce that the Latino Hotel Association (LHA) has joined its growing ranks to support the bipartisan federal legislation, S. 831 the EB-5 Reform and Integrity Act of 2021, introduced by Senator Chuck Grassley (R-IA) and Senator Patrick Leahy (D-VT), to reauthorize the EB-5 Regional Center Program. The Program’s current expiration date is June 30, 2021.
The EB-5 Regional Center Program was created to attract capital from foreign individuals who meet specific investment and job creation requirements. For years, EB-5 investments have filled funding gaps and provided vital capital for local economic development projects that create and support jobs, infrastructure, and businesses across the country.
“On behalf of CSCJ, Invest in the USA (IIUSA) and its leadership, we are pleased and grateful to the Latino Hotel Association for joining our effort,” said Aaron Grau, Executive Director at IIUSA. Grau continued, “We’re hopeful that with our growing list of supporters across the country, congressional leaders will bring the EB-5 Reform and Integrity Act of 2021 over the finish line before the June 30th deadline.”
Since its inception, the EB-5 Regional Center Program has drawn in more than $41 billion in capital investment from across the globe to support American businesses and created more than 820,000 job opportunities for U.S. workers.
“The EB-5 visa may technically be an immigration program, but practically speaking it’s an economic development program capable of leveraging billions of dollars for new hotel construction, in addition to helping the existing hotel and travel industry,” said Lynette Montoya, President and CEO of LHA. Montoya continued, “We need the Regional Center Program and the non-U.S. Treasury investments it facilitates to stimulate our economy and save American jobs. The reauthorization of the EB-5 Reform and Integrity Act of 2021 is critical.”
For more information on how you can support the Coalition to Save and Create Jobs, visit https://www.saveandcreatejobs.org/join.
About Coalition to Save and Create Jobs (CSCJ)
CSCJ (Coalition to Save and Create Jobs) was established to promote economic recovery, development, and growth by assuring the good-government and long-term reauthorization of the EB-5 Regional Center Program through the bipartisan EB-5 Reform and Integrity Act, championed by U.S. Senators Chuck Grassley (R-IA) and Patrick Leahy (D-VT). CSCJ consists of trade associations, chambers of commerce, municipalities and mayors’ offices, community banks, economic development organizations, health care facilities, and more. For more information on how you can support the Coalition to Save and Create Jobs, visit https://www.saveandcreatejobs.org/join.
About the Latino Hotel Association
The Latino Hotel Association is dedicated to serving those who want to learn, grow and succeed in the most exciting industry in the world…. hospitality! It educates and nurtures passionate individuals in the hospitality industry with a focus on growing Latino and Hispanic leaders. It is committed to expanding the community of Latino Hotel owners and operators and is a family-focused and inclusive association.