U.S. Conference of Mayors Endorses Robust EB-5

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The U.S. Conference of Mayors held its 83rd Annual Meeting in San Francisco from June 19th through June 22nd. One of the resolutions adopted at the meeting called for a more robust EB-5 program.

Citing EB-5 as “a vital source of urban redevelopment funds,” the 171,000+ U.S. jobs created by more than $8.6 billion in EB-5 funds, and the 13,000 pending EB-5 applications, the conference resolved urged Congress to

“Include a robust EB-5 Program through legislation including additional visas, ensuring that any reform of the EB-5 Program maintains the ability to deliver job-creating capital to urban areas, permanent authorization of the Regional Center Program, and streamlined approvals for all applications.”

The 13,000 pending applications represent 130,000 potential jobs for American workers.

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