FOR IMMEDIATE RELEASE
February 11, 2016
EB-5 INVESTMENT COALITION STATEMENT ON HOUSE JUDICIARY COMMITTEE HEARING
WASHINGTON, DC- The EB-5 Investment Coalition, a broad-based coalition representing EB-5 industry participants across the country, today released the following statement on the U.S. House Judiciary Committee’s hearing:
“The EB-5 Investment Coalition (EB-5IC) commends the House Judiciary Committee for its continued review of the EB-5 Regional Center Program and welcomes further discussion of the reforms necessary to strengthen this vital program for job creation.
“The underlying purpose of this program is to stimulate the U.S. economy through job creation and capital investment by foreign investors. The simple fact is, the EB-5 Regional Center Program has done just that, by helping fund projects that otherwise would have had difficulty getting off the ground. Since 1990, the EB-5 program has fueled investment in infrastructure, transportation, community development, schools, elder care, energy, agriculture, and manufacturing projects in all 50 states and created tens of thousands of jobs in the process, all at no cost to the taxpayer. That’s why economists, community leaders and businesses big and small have lined up to support this program.
“Today’s hearing presents an opportunity to highlight common sense improvements that the EB-5IC has long supported, such as implementing integrity measures to address concerns over fraud and safeguarding national security to further strengthen EB-5’s economic punch. We will continue to advocate for these key reforms and look forward to working with Congress in the months ahead to not only reauthorize but undergird the ability of EB-5 to continue to deliver for the American economy.”’
About the EB-5 Investment Coalition:
The EB-5 Investment Coalition (EB-5IC) is a broad-based organization of businesses, industry leaders, trade associations and elected officials mobilizing around the shared mission of putting Americans to work by reauthorizing and strengthening the critical EB-5 Regional Center Program. For more information, please visit: www.eb5coalition.org.