Group Project 301 paper

Immigration Policy: EB-5

Despite the shortcomings, loopholes and imperfections of immigration policy and reform, a program known as EB-5 has presented the American economy and businesses with a resurgence through monetary investments of wealthy foreigners seeking to cut the immigration line. In the wake of the Great Recession, this program and its symbiotic relationship between the U.S. government and would be immigrant investors has become popular in helping to initially subsidize American businesses, employment and projects. To date, many projects by American companies have been completed due to the use of billions of dollars generated through investments garnered through this program. In New York, the Barclays Center had seen an expedient completion due to the adequate and sustained funding thanks to EB-5 investors. Further, in San Francisco a public park has been completed as well as other large privately owned facilities nationwide that are constructed for commercial and public interests.

The EB-5 program is one of minimal risk to the United States and its domestic interests. In fact, its benefits presents a strong counterforce to nationalist and strict immigration overtures that comprise a distinctive faction in Washington. The program sets in place many stipulations that serve as required benefits rendered to this country in order for a prospective immigrant investor to attain United States citizenship. Firstly, the requirement of at minimum a $500,000 investment at an extremely low, non-existent interest rate provides much benefit for United States infrastructure and domestic businesses. Second, the requirement of creating short to long term jobs for Americans nationwide as a result of projects subsidized by EB-5 provide a selling point that requires these immigrant investors to contribute to the amelioration of the American economic situation of employment at large. In the end, any projects or investments that fail to takeoff from EB-5 will present no consequence or impediment to regional or the national economy as a whole, as many risks are assumed by the immigrant investors themselves who are vying for green cards.

The EB-5 program presents an avenue for continued economic growth in these years of recovery from the great recession. Despite its pitfalls and the seemingly bartered nature of U.S. permanent residency afforded to wealthy foreigners, the program presents the United States with a situation where it in essence has “nothing to lose, and everything to gain”.

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