27 Mar Michigan Governor Vies for EB-5 Program
March 27th, 2012
In a recent testimony before the House Education Committee in Washington D.C., the Governor of Michigan, Rick Snyder vied to extend the EB-5 Program. The EB-5 program allows foreigners to invest in United States, USCIS Approved, projects that stimulate the U.S. economy. EB-5 participants will make an investment of $500,000 or $1,000,000 USD into a U.S. project that will create at least 10 jobs for U.S. citizens from the said investment. In return, the investor will receive a return on their investment, as well as a conditional United States Green Card. This can be obtained for yourself, your spouse, and any unmarried children up to 21 years of age. More information on the EB-5 visa can be found on www.visaeb-5.com.
Despite the EB-5 Program’s recent success, it is due to expire September 2012 if Congress does not take action. With estimates of over 100,000 U.S. jobs to be created and at least $10 Billion in direct foreign investment over the next 5 years, the U.S. Congress would be making a huge miscalculation by not voting to extend this invaluable program.
Michigan Governor, Rick Snyder, touched on many of the above issues mentioned in his testimony. Rick stated, “Unfortunately, inflexible immigration laws increasingly delay foreign investors and impair job growth. We need to remove those barriers, and need action from the federal government to do so. Specifically, the EB-5 foreign investor program provides international investors the chance to live here as they invest in our economy and create jobs. However, the program is set to expire in September 2012. I urge you to work together with your fellow Members of Congress and the Department of Homeland Security to renew and make permanent the EB-5 Immigrant Investor Regional Center program. I would also recommend modifying the requirements so that an investor may qualify by creating at least five jobs and investing $500,000. We should not deter attracting eligible, willing investors to our states.”
Governing an economically depressed region, such as the State of Michigan, Rick Snyder knows the importance of bringing in critical business funding to kick start an economy. The creation of jobs and in return gaining worthy citizens to the U.S. is nothing short of a win-win scenario. With high profile support like that of Rick Snyder, the EB-5 Program is sure to come to the attention of many in Congress and ultimately become a mainstay in the U.S. economy and immigration policy.
To learn more about the EB-5 Program, please visit www.visaeb-5.com