Earlier this month Cleveland International Fund CEO Mr. Stephen Strnisha was invited to speak to a bipartisan group of congressman in the United States House of Representatives. He spoke to the assembled congressman and staff about the mechanics of operating a EB-5 Regional Center and the benefits EB-5 funds can have for the surrounding community. Operating as a source of non-traditional financing, EB-5 investment capital can be used to jump-start or complete worthy projects that are – for one reason or another – having difficulty securing capital from conventional sources.
Congress has become increasingly interested in the EB-5 program, given its potential to stimulate regional economies, and there are now two bills in the US Congress (one from the Senate and one from the House) that make changes to the program. Given the interest on Capitol Hill, CiF appreciated the chance to present our perceptions of the EB-5 industry and the possible effects of new legislation. We understand the importance of working with our Congressional representative and are pleased to be a part of Congress’ thoughtfully exploration the issue.