As the national not-for-profit trade association representing more than 250 EB-5 Regional Centers, we sincerely appreciate the bipartisan support for the EB-5 Program demonstrated by Congressmen Polis’ and Amodei’s introduction of The American Entrepreneurship and Investment Act of 2015.
We wholeheartedly agree that the EB-5 Regional Center program should be made permanent, and we look forward to working with them and the entire Congress and the Administration on reauthorization. According to a comprehensive, peer-reviewed economic impact study, the EB-5 program contributed $3.39 billion to U.S. GDP and supported over 42,000 U.S. jobs during fiscal year 2012. 2013 and 2014 data is under analysis and expected to increase significantly. This demonstrates exponential growth for the program – more than doubling the annual impact reported the previous year. Permanent authorization will help ensure that these kinds of economic benefits continue.
In addition to making EB-5 Regional Center program permanent, the proposed legislation includes a number of provisions to strengthen the integrity of the Program. The bill also includes measures that will increase capacity for economic impact, which will only enhance the Program’s ability to create American jobs. IIUSA has a strong track record supporting legislative proposals to improve oversight and administration of the Program. We are currently reviewing the bill in its entirety in order to provide additional comments to the cosponsors and the relevant committees that may consider the bill.