In 1992, Congress created the Immigrant Investor Program, which sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by United States Customs and Immigration Services.

The facts.

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There are currently 88,000 EB-5 investors with approved or pending petitions.

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Many of these investors will face a backlog of as many as 15 years without the option to reside in the United States.

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As a result, the program is suffering, and many investors are moving to abandon the program, putting hundreds of millions of dollars of future investment in the U.S. economy at risk.

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The EB-5 backlog is not only hindering hundreds of millions of dollars of investment in the U.S. economy, it is also deterring some of the best and brightest minds from making their contributions to this country.

The EB-5 backlog: the most significant threat

to continued investment in the U.S.

Given the loss or diminishing funding sources available to local government particularly in the state of California programs, programs such as the EB-5 program serve as a catalyst to encourage investment in communities such as our city. A major project that has seen the benefits of such program is the expansion of the El Centro Town Center which is a commercial shopping area in our city that is generating revenue in our City but more importantly it is creating new jobs which are very important in an area where its unemployment rate is more than 20%.

MARCELA PIEDRA

Director of Economic Development

El Centro, CA

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