Following the recession of 2008, investments in the US economy appeared scarce and of little concern to domestic financial institutions. However, the EB-5 program, supported by EB-5 attorneys, has made a stark impact on the US economy through foreign direct investments, or FDIs. Recent findings by the United States Citizenship and Immigration Services, or USCIS, exemplifies this pattern, asserts Nicole Marlene.
What Happened in 2015?
EB-5 investments have increased 81.8% in 2015, as compared to the first nine months of investments in 2014. Furthermore, this amounts to $3.2 billion. With 2015 drawing to a close, the projected amount for FY2015 will be over $4.3 billion.
Why Foreign Direct Investment?
The recession took a dramatic toll on banks’ willingness to finance risky projects. Following this recession, the number of EB-5 petitions has consistently increased with each quarter. However, the number of positions dropped slightly in the third quarter of FY 2015. Yet, this still reflects an increase from the number of positions at the same point in time of the previous fiscal year. To date, 13,117 petitions are pending, and processing power of such petitions has greatly increased. As a result, foreign direct investments have been able to be completed faster, more efficiently, and with greater resolve to spur of the US out of the recession.
What Does It Mean For the Future?
If a project’s executive-level management were to consider the amount of FDIs currently injected into the US economy, the investment reflects $1.4 billion per quarter. This potential investment shows a direct connection between increased US economic stability and growth of the EB-5 program. Additionally, the 48 states have opened regional centers for the EB-5 program, and regional centers also exist in many US territories.
For developers, the question of the obtaining funding is not what bank to go to, but what foreign investor is interested. The EB-5 program helps both US developers and foreign immigrant investors realize their dreams. Undoubtedly, USCIS data shows the true scope of success within the EB-5 program. To learn more about taking advantage of this program with the help of a qualified EB-5 attorney, contact the Law Offices of David Hirson & Partners, LLC today at (949)383-5358.