China City of America Education Center Project Helps Economy Growth and Benefits the Community in Large
China City of America is excited about its Education Center. The multiple phases of the Center project will include classroom buildings, a student dormitory, apartments/townhouses, faculty houses, a college inn, a college library, museums, an art center, a student conference center, a stadium and an indoor/outdoor recreational facility including playgrounds.
Last year, foreign students contributed about $24 billion dollars to the U.S. economy. International education programs do much more than advance cultural enrichment, they also assist economically to communities that host the foreign students. Recently, the Hurun Research Institute released their 2014 Paper on Chinese Investment Immigration. The report shows that in China, the United States is the most popular nation that wealthy immigrants apply to enter. The education system, the environment and the quality and safety of food are three main factors for the U.S. being chosen over other nations. Furthermore, as a traditional immigrant nation--founded by immigrants, the U.S. has many Chinese communities and social attitudes towards immigrants are generally friendly due to the country's diversity. In addition to these social and educational benefits of moving to the United States, the U.S. government has a very attractive immigration policy which is mature and stable.
Aside from Chinese immigrants benefiting from the strong educational system of the United States, they also help to stimulate the U.S. economy. According to the Institute of International Education and the U.S. Department of Commerce, international students contribute $24.7 billion to the U.S. economy annually. Of this spending, 64% comes directly from their personal and family funds as many universities do not offer financial aid for foreign students. This percentage is even higher at 80% for undergraduate students. This economic influx comes from tuition, room and board, text books/supplies, transportation, health insurance, and other miscellaneous living expenses. According to University World News, Chinese students make up 29% of international students bringing in an estimated $7.16 billion to the U.S. economy.
US economy will be in better shape if it is kept at a comparatively high rate of immigration. According to the US Census Bureau's estimates, in the "high immigration" scenario, the U.S. has nearly 22 million more working-age residents in 2050 than in the "low immigration" case. More workers will help the "dependency ratio".
All else equal, fewer workers mean less economic growth. One way to measure this is a figure known as the "dependency ratio," or the number of people outside of working age (under 18 or over 64) per 100 adults between age 18 and 64.2. The higher the ratio, the worse the news: If more of the population is young or old, we are left with fewer working-age people to support them and contribute to the economy.
There are a quarter-million baby boomers who turn age 65 each month. Nearly 75 million Americans were born between 1946 and 1964, the typical definition of the baby boom generation. As a result, the U.S. economy continues to shrink. Retirees do not contribute as much to the economy as workers do. The U.S. labor force participation rate has declined. It will only continue to fall for the next decade.
"The percentage of Americans self-identifying as "middle class" has dropped significantly in recent years, while the percentage considering themselves "lower class, poverty" or "lower middle class" has risen."
Sullivan County has a typical U.S. post baby boomer retired and shrunk middle class economy with a very high unemployment rate and a serious aged tendency issue.
What will be the new drive for future economic growth? Bringing more immigrants especially the young and wealthy will be an absolute no brainer. Families who participate in the EB-5 investments are mainly wealthy business owners who:
1. Have the need for asset allocation and invest in US dollar assets for value preservation
2. Currently have children who study in America and plan to work and stay in the U.S. after they graduate from college
3. Their children are in lower levels of education and plan to study and eventually go to U.S. colleges
EB-5 investment candidates are one of the best immigrants the U.S. can ask for. They help with economic growth and benefit the community in large: families allocate their wealth to the US local economy, they value the education system, and most of all they think America is a beautiful country. Each EB-5 family who invests $500,000 into a TEA (Target Employment Area) to create 10 direct, indirect and induced jobs will qualify.
"We hope that the government agencies will provide more help to businesses that create jobs, assist with economic growth, facilitate the permitting procedure and stop wasting government resources to create burdens, therefore allowing the job creation project to take off." Sherry Li stated, "At the end of the day, the businesses will solve the "high dependency ratio" problem. The jobs created will support and contribute to the economy and benefit community in large."
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