Letter to the Editor: Angelique Brunner Responds to Washington Post Editorial
In response to an editorial in The Washington Post about the EB-5 program, Angelique Brunner, the EB-5 Investment Coalition Industry Membership Chair and Spokesperson, submitted the below letter to the editor.
February 13, 2017
The Post’s editorial, “An immigration policy worth ending,” reaches an unfortunate conclusion for anyone in favor of job creation – first and foremost among them, President Trump, who has promised to create 25 million jobs over the next decade.
As a businessperson who works with EB-5, I’ve seen the benefits this program offers communities in attracting investment and creating jobs, providing the capital to jumpstart development that otherwise would remain stalled.
This program puts Americans to work. A recent Commerce Department study concluded that “EB-5 investors provided $5.8 billion in capital to invest in 562 projects” in FY12-13 and created “an estimated 174,039 jobs.” Moreover, EB-5 projects span a diverse range of industries, funding infrastructure, healthcare facilities, charter schools, hotels and manufacturing plants in urban and rural communities. In DC, the new REI and Giant in Shaw relied on EB-5 funding.
While there have been a few bad actors, as in other industries, we are hopeful that this is the year Congress passes permanent reforms to strengthen the program. President Trump has made clear that his priorities are to create jobs and improve our infrastructure. The EB-5 program can deliver results for both, at no cost to the taxpayer.
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.