Wednesday, November 4, 2015

Summary of Industry-Supported Reforms to the EB-5 Program

The EB-5 immigrant investor program administered by the USCIS is – for the second time this year – in need of congressional reauthorization in order to continue to operate. Over the past 5 years, CiF has used the EB-5 program to raise $220 million for job creating, catalytic investment projects in the Greater Cleveland area. However, if Congress does not renew the program on or before December 11, 2015, the EB-5 program will lapse and CiF will no longer be able to attract foreign investment capital to the area using EB-5.