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IIUSA sends open letter to Majority Leader Senator Reid asking for immediate re-authorization of the EB-5 Regional Center Pilot Program

August 1, 2012 @ 1:48 pm
Posted by Exclusive Visas

On July 27, 2012,  the President of the Association to Invest in the USA also known as IIUSA,  K. David Andersson, sent an open email posted to the IIUSA blog, asking Senators Harry Reid (D-NV), Mitch McConnell(R-KY), Patrick Leahy (D-VT) and Charles Grassley(R-IA), to support the renewal of the EB-5 Regional Center Pilot Program.

The correspondence talks about the many accomplishments of the EB-5 program stateside when it comes to raising capital and job creating. It also states that are currently over 200 regional centers approved in 44 states and territories in the US, which further evidences the popularity of the program. The re-authorization of the program has been endorsed by the U.S. Conference of Mayors and by a number of individual Governors.

The EB-5 Regional Center Pilot Program was responsible for the injection of over US$ 1.25 billion in FY2011 alone. In the same period, the EB-5 program created and/or saved over 25,000 American jobs.

FY2012 is expected to be a record-breaking year, as over 2,100 I-526 investor petitions have been filed in the first two quarters of year. This data translates into over 40,000 jobs created and over US$ 2.0 billion in capital brought to the US.

Andersson also emphasizes that the EB-5 Regional Center Pilot Program has no cost to the U.S. taxpayers.

A list of entities that names members of a cross-sector coalition of over 350 organizations throughout the US that support immediate action in the EB-5 Program reauthorization includes entities in the Public Sector, Non-Profit Organizations, and companies in the Private Sector.

Exclusive Visas is listed in the petition as a supporter of the re-authorization of the EB-5 Regional Center Pilot Program.

To read the letter, click here.


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