U.S. Representatives Stanton, Fitzpatrick, Gooden, and Evans Introduce Bill to Improve Communication Between USCIS and EB-5 Regional Center Stakeholders
New bill creates advisory committee within U.S. Citizenship and Immigration Services to develop recommendations for improvements to the EB-5 Regional Center Program.
Washington, D.C. – February 9, 2024 – Invest in the USA (IIUSA) is proud to announce the bipartisan introduction of H.R. 7220, the EB-5 Regional Center Program Advisory Committee Authorization Act, sponsored by Representatives Greg Stanton (D-AZ), Brian Fitzpatrick (R-PA), Lance Gooden (R-TX), and Dwight Evans (D-PA).
The EB-5 Regional Center Program Advisory Committee Authorization Act would establish an advisory committee composed of experts in the EB-5 Regional Center Program space. The advisory committee, hosted by the U.S. Citizenship and Immigration Service (USCIS), will bring together Regional Centers from across the country that have completed or are engaged in projects in high unemployment areas, rural areas, and infrastructure initiatives. The advisory committee will also include state and local officials including mayors from large, midsize, and small cities and state and county economic development officials. The committee’s mission would be to communicate, coordinate, and advise USCIS on administering the Regional Center Program.
EB-5 Regional Centers pool EB-5 capital investments in economic development projects approved by USCIS. Regional Centers have been tremendously successful, generating more than $50 billion in economic development and creating more than 1.35 million American jobs at no cost to the American taxpayers.
“When I was Mayor of Phoenix, I saw how the EB-5 program can attract foreign investment and create new jobs—lifting our economy and making us more globally competitive,” said Representative Greg Stanton (D-AZ), the lead sponsor of EB-5 Regional Center Program Advisory Committee Authorization Act. “In Congress, I have worked to preserve and grow the program by leading the EB-5 Reform and Integrity Act, and I’m proud to introduce this bipartisan bill to continue improving the EB-5 program.”
“The EB-5 Program has funded numerous infrastructure projects across Southeastern Pennsylvania and helps promote economic growth throughout the Commonwealth,” said Representative Brian Fitzpatrick (R-PA). “I am proud to continue the work to support and improve this bipartisan program so that this crucial funding stream can continue to benefit future projects across Pennsylvania.
“The EB-5 Program is a key driver of U.S. economic growth and job creation.,” said Representative Lance Gooden (R-TX). “Our bipartisan bill aims to optimize this program, ensuring it continues to attract vital foreign investments and benefits American communities.”
“The impact that the Regional Center Program has had on Philadelphia is enormous,” said Representative Dwight Evans (D-PA). “Investments in the program have created thousands of jobs and helped to revitalize several parts of the city. I am proud to join my colleagues on the EB-5 Regional Center Program Advisory Committee Authorization Act to help ensure that local officials and other stakeholders have a voice in the continued growth of the program.”
“I am immensely grateful to Representatives Stanton, Fitzpatrick, Gooden, and Evans for leading the EB-5 Regional Center Program Advisory Committee Authorization Act,” said IIUSA Executive Director Aaron Grau. “All four members recognize the value the EB-5 Regional Center Program brings to their districts, and we are proud to work with them. As we advocate for EB-5 Regional Center Program Advisory Committee Authorization Act, we also look forward to continuing to advocate for a permanent authorization of the EB-5 Program.”
About Invest in the USA (IIUSA)
Founded in 2005, IIUSA is the national membership-based 501(c)(6) not-for-profit industry trade association for the EB-5 Regional Center Program. Fundamentally, IIUSA is an organization focused on stimulating the United States economy for the benefit of American workers, American communities, and all those invested in sustainable, domestic job creation.
To date, IIUSA represents 130+ Regional Center members and 120+ Service Provider members across the country serving 47 states/territories. Regional Centers account for billions of dollars in EB-5 capital formation. Concretely, our work has empowered our members to create hundreds of thousands of jobs in a wide range of industries and American communities, generating billions in foreign direct investment at no cost to the U.S. taxpayer.
Through dedicated advocacy work, education, industry development, and research, IIUSA advocates for policies that maximize economic benefit to the United States from the EB-5 Regional Center Program. Accordingly, our primary mission is to achieve the permanent Congressional reauthorization of the EB-5 Regional Center Program after nearly 30 years of enthusiastic bipartisan support and record-breaking economic impact.
Aaron Grau, Executive Director, IIUSA