EB-5 Visa Relief Group
The EB-5 Visa Relief Group is a single-issue organization focused on one thing: solutions for mounting EB-5 visa backlog that is stunting job creation for American businesses.
The EB-5 program is a proven job-creating program. We support short and long term solutions to expanded visa numbers and visa relief. EB-5 visa reform would result in billions of dollars of additional investment into local U.S. economies and tens of thousands of new American jobs. In short, we stand for the full realization of the EB-5 program’s job creation potential.
About the EB-5 Program
Congress created the EB-5 Program in 1990 to benefit the U.S. economy by attracting investments from immigrant entrepreneur investors. Under the EB-5 Program, each investor is required to demonstrate that at least 10 new jobs were created or saved as a result of their EB-5 investment, which must be a minimum of $1 million, or $500,000 if the funds are invested in certain high-unemployment or rural areas.
In 1992, Congress enhanced the economic impact of the EB-5 program by permitting the designation of Regional Centers to pool EB-5 capital from multiple foreign investors within a defined geographic region. The EB-5 Industry is regulated by the U.S. Citizenship and Immigration Services (USCIS) and the Securities and Exchange Commission (SEC).
As the 2008 financial crisis showed, access to capital is subject to devastating economic dips causing development to be delayed and jobs lost. Then and now, EB-5 capital provides investment to job-creating enterprises — revitalizing communities, building infrastructure, and creating jobs for Americans.
The EB-5 Industry is a proven job creator. A comprehensive economic study commissioned by Invest in USA (“IIUSA”), the largest national EB-5 trade association, found that during fiscal year 2013 alone, investments made through the EB-5 program contributed $3.58 billion to U.S. GDP and supported over 41,000 U.S. jobs at zero-cost to the American taxpayer or the U.S. government. The U.S. Department of Commerce in its 2017 study found that in just over a 2-year period, EB-5 investments created over 174,000 U.S. jobs, and contributed nearly $6 billion into the American economy. EB-5 is great for the American economy because it creates new American jobs.
EB-5 Visa Relief Group Strategic Goals
- Inform all branches of U.S. Government about the benefits of the EB-5 program and the need for visa relief to fulfill the job creating intent and potential of the EB-5 program.
- Build awareness of the impact that visa limitations impose on local economic development and investor families.
Grass Roots Support. The EB-5 Visa Relief Group knows that there are hundreds of thousands of U.S. workers and businesses who benefit from the work EB-5 does every day. We will:
- Identify and organize supporters for overdue EB-5 reforms and expanded EB-5 capacity.
- Legislative. Congress must re-authorize the program and expand EB-5 visa capacity, so that the original intent of the EB-5 program can be achieved.
- Executive. The Executive Branch and the U.S. Department of Homeland Security can implement new regulations and change its interpretations to provide various forms of visa relief to EB-5 investors and family members.
- Judicial. There are legal flaws in the way visas are currently allocated, and resort to the courts might afford a remedy. We will support litigation dedicated to expanding visa capacity by restoring the best interpretation of our laws.
What We Are Not
The EB-5 Visa Relief Group is focused only on the need for additional EB-5 visas to foster American job creation. Many other organizations are addressing other EB-5 related issues through legislative, administrative and judicial means. The EB-5 Visa Relief Group will support those other efforts which also address the need for EB-5 visa relief and result in the creation of new US jobs.
For More Information:
We are just beginning! The EB-5 Visa Relief Group is collaborating with experienced EB-5 professionals (attorneys, economists, policy experts), EB-5 Regional Centers, developers, elected officials and community leaders, highly regarded immigration non-profits to identify solutions. We will publish additional content and offer ways for the EB-5 community and its supporters to get involved.
Let’s have a conversation: