The state of IIUSA is strong. Members and the EB-5 industry should be filled with optimism.
Despite the expected hang wringing as we once again tackle a pending statutory program extension, progress on a long-term legislative reform is profound and positive.
Despite the misplaced pessimistic predictions about the state of the industry, the entire industry, including many outside our industry such as municipal leaders, economic development advocates, and several real estate organizations, remain lock-step/arm-in-arm on necessary reforms.
And despite the unfortunate (even grotesque) profiteering articles and scuttle-butt forecasting the end of the EB-5 program, investor interest is climbing, receptivity to derivative relief is widening, and policy-maker after policy-maker express their support for what EB-5 projects do for their communities.
Negativity and profiteering simply cannot outweigh the association’s progress, positioning, and health and anyone who blindly believes otherwise does so to their own detriment. Here are just a few of the reasons why.
THE ASSOCIATION’S FISCAL HEALTH IS STRONG
IIUSA’s financial position is almost 10 times stronger than it was one year ago. Increased support from industry leaders and smart budget streamlining are giving IIUSA the ability to focus not only on its legislative priorities, but educational/promotional video development, outreach to new membership sectors such as economic development professionals, and new grassroots advocacy strategies.
THE ASSOCIATION IS REESTABLISHING A POSITIVE WORKING RELATIONSHIP WITH USCIS
In recent years, USCIS has gone from hosting routine quarterly stakeholder engagements with EB-5 industry representatives to practically closing their door entirely. However, in the past ten months, IIUSA has pushed for and received a meeting with the agency’s director and reopened communications on policy matters. The door is cracked. The light is coming through and the association’s professional persistence is setting the stage for wide-open dialogue on policy matters ranging from application processing times to regional center certifications.
THE ASSOCIATION AND ITS PARTNERS ARE CLIMBING THE LEGISLATIVE HILL…
…and the summit is within reach. The greatest asset the association and the industry now has is its cooperative and congenial operations with the EB-5 Investment Coalition (EB5IC), the US Chamber of Commerce, the Real Estate Roundtable, and the Rural Alliance. Collectively, we have overcome past hurdles and agreed on policies such as TEA designations, investment differentials, integrity measures, derivative relief, and of course a long-term reauthorization.
An industry unity bill is a very powerful political advantage and the association is fully leveraging our new-found position. There are many reasons to believe that our cooperative efforts will produce a reform and reauthorization well before the (ill-timed) regulations ever come into effect.
IIUSA is streamlined, stable, energetic, productive, and collaborative. Our goals are in sight. In fact, they are so close we can see the many opportunities beyond them as well. Do not believe the naysayers, the worriers, and especially the profiteers. IIUSA is strong!