Soon after the U.S. Department of Commerce, Economics & Statistics Administration (ESA) issued their report on foreign direct investment (FDI) into the United States, the White House Council of Economic Advisers released their own report praising the role of FDI in the U.S. economy and the important role it must play in the national economic recovery.
FDI comes in many different shapes and forms. It can be a company expanding operations into the U.S. or an individual making an investment to diversify their asset portfolio. There are numerous incentive programs to promote economic development in the U.S. using FDI. The office in the Department of Commerce, Invest In America, that promotes FDI puts out an annual report (“Invest In American: Guide to Federal Incentives and Programs Available to Investors, 2011”) summarizing all of these program. CLICK here to download a copy.
The Department of Commerce has also recently rolled out another, similar initiative called “SelectUSA.” Their mission is to “highlight the many advantages the United States offers as a location for business and investment.” It will be part of the Invest In America office, the Director of which – Aaron Brickman – will be one of our keynote speakers at the IIUSA EB-5 Regional Center Advocacy Conference in Washington, DC on September 14-15, 2011.
The EB-5 Program is listed as one of the incentive programs in the Invest In America incentive summary publication. The Program is on track to account for $2B in FDI this fiscal year (FY). With all the discussion surrounding the importance of FDI in the Executive Branch and utilization of this economic tool on a local level, we need Congress to act – like much of the rest of the world has acted – to remove the uncertainty that comes with the Program’s “pilot” status. The U.K. has made it easier for foreign investors and entrepreneurs to setup or expand their business operations. On the other end, Canada recently announced they will be cutting off new applications to 700 next year, likely meaning more FDI for the U.S. through the EB-5 Program.
To hear more about all of this, there is no better event to attend than the IIUSA EB-5 International Investment & Economic Development Forum in Seattle, WA on August 11-12. It is going to THE BIGGEST EB-5 event of the summer, with attendees from all over the world – particularly China, S. Korea, Canada, Mexico, India, and the U.S. More to come on this later in the week. Make sure you buy your tickets now, before we sell out. Lawyers can earn CLE credits for attending. Hear the latest updates on pending legislation. Network with the most successful EB-5 Regional Centers, and biggest foreign consulting agencies. Much more…