05 Aug Senate Acts to Reauthorize EB-5 Regional Center Program
August 5, 2012
According to the Association to Invest In the USA (IIUSA), a 501(c)(6) not-for-profit industry trade association of active EB-5 Regional Centers (“Regional Centers”), attorneys, financial advisers, economists, broker/dealers, consultants, and other EB-5 related service providers, the United States Senate has acted to reauthorize the EB-5 Regional Center Program for three years via unanimous bipartisan consent. The House of Representatives is expected to follow suit after it comes back to session in September.
Support for the EB-5 Regional Center Program should come as no surprise, since the explicit purpose of the program is to create U.S. jobs without adding any further to the substantial U.S. deficit. In reality the program will help to reduce the the deficit through further gains in payroll and income taxes brought about by the new jobs created and new citizens immigrating to the country via the programs success. The IIUSA has stated “IIUSA will continue to advocate for prompt action by the House in September to make sure this Program can continue its growing contribution to the U.S. economy, on track for over $2.0BILLION and 40,000 U.S. jobs in FY2012.” With an organization like the IIUSA representing the EB-5 community, Congress will certainly act to reauthorize this essential economic bill.
As unemployment hovers around 8.3%, Regional Centers, like the Florida Regional Center, are essential to rebuilding our economy and getting America back on track. Only the EB-5 Program is allowing projects like Harbourside Place to create jobs in targeted employment areas and help rebuild and progress the area of South Florida.
For EB-5 Visa Investment opportunities in Harbourside Place and other Florida Regional Center Projects, please visit https://visaeb-5.com/. Subscribe to our blog for construction updates and photos or follow us on Twitter @eb5palmbeach for the most up to date information.