Newsletter March 2012 – EB-5 Program to End?
March 22nd, 2012 by Eric J. Ramos
IN THIS ISSUE
The U.S. Naturalization Civics Test
Silicon Valley Funding DREAMs
Mitt Romney and Rick Santorum
The Faces of US Immigrants: Augustus Saint-Gaudens, An Irish-American Sculptor
Recipes From The Melting Pot: Irish Soda Bread, A St. Patrick’s Day Favorite
Quote of the Month
EB-5 Program to End?
The Immigrant Investor Program, also known as “EB-5,” was created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by immigrant investors by creating a new commercial enterprise or investing in a troubled business. There are 10,000 EB-5 immigrant visas available annually. In 1992, an additional 3,000 EB-5 visas are also set aside every year for investors in Regional Centers designated by USCIS based on proposals for promoting economic growth.
But the EB-5 program is scheduled to end in September, 2012. Luckily, some steps have already been taken to ensure the renewal of this important program. In January, Vermont Senator Patrick Leahy held hearings called “Reauthorizing the EB-5 Regional Center Program: Promoting Job Creation and Economic Development in American Communities,” which brought attention to this important topic. Today, the EB-5 program is more vital to the American economy than ever – as banks’ willingness to lend capital to developing projects continues to tighten, this program allows for the infusion of much-needed money into U.S. business ventures, while creating jobs in the areas that need the most help.
