IIUSA analysis points to an increase in qualified funds raise and projected job creation
According to an IIUSA analysis of data released by the United States Citizenship and Immigration Services, foreign direct investment (FDI) through the EB-5 program totaled over $1.4 billion dollars in the third quarter of FY2015. This represents a 45 percent increase over the second quarter of FY2015 and a 153 percent increase over the third quarter of FY2014
Since the beginning of FY2015, EB-5 investments have contributed $3.2 billion in FDI-- a 61.8 percent increase over the first three quarters of FY2014. And, for the first time, the number of pending EB-5 petitions has decreased compared to the previous quarter. There are currently 13,117 petitions pending, representing over $ 6.5 billion in potential FDI.
Under EB-5, a program created by Congress with broad bipartisan support, foreign nationals who invest between $500,000 and $1,000,000 in approved U.S. businesses are eligible for permanent residency if the U.S. government confirms that their investment created at least 10 American jobs within two years of the investment.
"Well over $1 billion in FDI per quarter is a great accomplishment for the EB-5 industry – and a big boost to economic development projects across the country. This level of investment demonstrates the integral role EB-5 is playing in development finance capital markets," said IIUSA Executive Director Peter D. Joseph. "We are also pleased to see that the number of pending EB-5 petitions is decreasing. This means that USCIS has continued to focus on processing these applications efficiently which increases stakeholder confidence in the program."
With the Program's September 30th "sunset" date quickly approaching, a growing number of supporters are joining advocacy efforts supporting reauthorization. Both the U.S. Conference of Mayors and the National Association of Counties recently adopted resolutions affirming their support for the Program, and over 760 organizations have signed IIUSA's "EB-5 is Working" letter urging Members of Congress to pass reauthorization legislation. Reauthorization is critical to ensure that billions of investment dollars are available to create U.S. jobs and revitalize communities across the country.
- New York
Subscribe for News
Join Professionals on EB5Projects.com →
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.