EB-5 Is Not Unfair

Like school children on a playground, the opponents of the EB-5 investment visa program keep finding ways to say, “That’s not fair!”

 

 

The monotonous proposing that EB-5 is not fair because it favors wealthy investors is ludicrous. The object of the program is to create jobs for Americans and stimulate the economy by accessing private investors who wish to immigrate to the United States. To whom is that not fair? Traditional investors who charge high interest rates (for their own benefit) or who refuse to lend at all? Or is it because the offer is not available to indigent people who have no means of investing in anything?

Another reason for crying, “Unfair,” is centered on Targeted Employment Areas. Simply put, these are area where unemployment rates are higher than average. Claims of gerrymandering to carve out TEAs abound, yet no one has yet declared any TEA to be illegal.

A recent article in the Wall Street Journal reported the claim that some make is that most of the EB-5 investment dollars have been flowing to projects in major metropolitan areas. (The original wording of EB-5 mentioned rural areas.) As a case in point, they mentioned a project to fund a door manufacturing plant in Lamar, Missouri, that is having trouble securing funding from EB-5 investors. Lamar is a sleepy town of 4,500 people in Southwest Missouri. It is notable for being the birthplace of President Harry Truman. Wyatt Earp called it home when he was the first sheriff of Barton County.

Lamar is an agricultural community with limited resources. Many farmers in the area seek jobs to supplement their farming income, so the labor pool is not exactly what it is cracked up to be. The largest employers in Lamar are a national retail POS fixture manufacturer, a composite building material manufacturer, and a business forms printer.

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