Thanks to the Regional Center Investor Pilot Program, thousands of Americans are employed today, and at no cost to the American taxpayer. This Program needs to be a permanent part of the American economic development toolbox.
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Chicago (PRWEB) February 14, 2012
The Association to Invest In the USA (IIUSA), the trade association for the EB-5 Regional Center Investment Pilot Program, today celebrates a new historic high in Program utilization for the first quarter of FY2012. US Citizenship and Immigration Services recently reported 2,364 EB-5 visas issued in the first three months of the current federal fiscal year (1). This equates to at least 10,000 new jobs for American workers. At this pace, the 2012 Program will come close to using its 10,000 annual visa allocation for the first time since the Program’s inception in 1994. 10,000 EB-5 Visas would mean at least 40,000 new jobs for US workers.
At a time of limited liquidity around the United States, the EB-5 Regional Center Investment Pilot Program is finally coming of age. Globally integrated marketplaces now facilitate the exchange and migration of capital, resources and people across international borders at an ever-increasing rate. As a result, the Program is able to account for more foreign direct investment now available for American job creating enterprises than ever before.
“These recent numbers confirm the trends that our industry has been seeing for the last couple of years,” said K. David Andersson, President, IIUSA, “We are a functioning example of 21st century economic development policy that works. Thanks to the Regional Center Investor Pilot Program, thousands of Americans are employed today, and at no cost to the American taxpayer. This Program needs to be a permanent part of the American economic development toolbox.”
Despite its record setting statistics and growing economic impact, the EB-5 Regional Center Investment Pilot Program is due to expire in September 2012, absent action from Congress. IIUSA estimates failure to reauthorize the Program in a timely manner would squander a golden opportunity to create over 100,000 new U.S. jobs through investment losses of at least $10 Billion in foreign direct investment over the next five years. IIUSA calls on Congress to support our efforts to create new jobs by immediately passing permanent reauthorization of the EB-5 Regional Center Pilot Program.
IIUSA is the 501(c)(6) not-for-profit industry trade association of active EB-5 Regional Centers (“Regional Centers”), attorneys, and other EB-5 related service providers. Regional Centers are private corporations and/or government agencies designated by the U.S. federal government to allow foreign investors to invest capital in local economics with the goals of preserving and creating U.S. jobs through economic development. For more information, see http://iiusa.org.
(1) See USCIS 1/23 EB-5 Engagement Presentation: http://www.uscis.gov/USCIS/Outreach/Notes%20from%20Previous%20Engagements/Notes%20from%20Previous%20Engagements%20by%20Topic/January%20EB-5%20presentation%20FINAL.pdf
Peter D. Joseph