Any claim that the Regional Center Program is being permanently shut down is misinformation that is no truer than the federal government being permanently shut down.
ROCK ISLAND, Ill. (PRWEB) January 08, 2019
The Regional Center Pilot Program was established in 1994 to stimulate the U.S. economy through job creation and pooled capital investment by foreign investors. The Program has required renewing legislation which has consistently been provided, and in 2012 Congress removed “Pilot” from the title to indicate Congress’ continued support of the Regional Center Program as more than a pilot (or temporary) program. Since 2015, Congress has attached the Regional Center Program extensions to the funding of the federal government while simultaneously working to improve the integrity of the program. Each recent short-term lapse of the Regional Center Program has been a result of a lapse in funding for the federal government, and not a deliberate lapse in support of this job-creating program.
On December 22nd, 2018 the federal government entered a shutdown as a result of the bodies of government being unable to agree to a budget for the current fiscal year. Many employees continued to work during each past shutdown, and the current shutdown is no different. Any claim that the Regional Center Program is being permanently shut down is misinformation that is no truer than the federal government being permanently shut down. For many years CMB has asked Congress, and the US Citizenship and Immigration Services to improve the integrity of the Regional Center Program, stop bad actors, and create a truly level playing field for all involved in the EB-5 industry. We continue to support the efforts by those involved to work toward an improved program, and look forward to the renewal of the Regional Center Program along with the end of the current partial government shutdown.
With over twenty years of EB-5 experience, CMB Regional Centers is one of the oldest active regional centers in the EB-5 industry. Mr. Hogan, the CEO and founder of CMB Regional Centers, has been involved in the EB-5 industry since 1994, which coincides with the establishment of the Regional Center Pilot Program. Even though the Regional Center Program has temporarily lapsed during this partial government shutdown, CMB continues to work to serve each and every one of our clients and will continue to work with new clients in anticipation of a future renewal. Please do not hesitate to contact our experienced and professional staff with any questions you may have.