Resolution for 5 Day Funding Government to Include EB-5 Program

On December 11, 2015, the House passed a short-term funding bill to avoid another government shutdown. The bill allows for the EB-5 Program to continue until December 16th.

Senate leaders have noted that they will not vote on a funding bill until the House does.  As a result, Congressional leaders will be facing a tight deadline due to the nature of Senate procedure.

 

Reports indicate that the House may vote on a long-term funding bill as early as Tuesday, December 15th.  As soon as the House passes a bill, Senate Majority Leader Mitch McConnell (R-KY) is expected to file cloture on the funding measure immediately, forcing Senators to wait 30 hours before they can vote on final passage and send a budget bill to President Obama to be signed into law.

 

Take 30 seconds of your time voice your support for the EB-5 Program at IIUSA’s Legislative Action Center by clicking the “EB-5 is Working” logo below! Whether you are a member, nonmember, Program stakeholder/beneficiary, or supporter, you are welcome to utilize this advocacy tool that is designed to empower you to tell your story of U.S. job creation at no cost to the taxpayer through EB-5 capital investment. Tell your “EB-5 is Working” story today!

 

(IIUSA) staff, with guest contributors from time to time.  We launched the blog in 2010 as part of our commitment to industry development and public education on the EB-5 Regional Center Program (the “Program”).  Four years later, a wealth of industry archives can be found exploring this website.  We welcome your feedback and thank you for reading!

 

) by a voice vote to avoid a government shutdown. The original EB-5 extension is included. Yesterday, the Senate passed the short-term, five-day continuing resolution (CR) by unanimous consent, giving lawmakers until December 16th to pass a long-term spending bill for the rest of fiscal year 2016.

 

 

 

Does the EB-5 Program Need a Facelift?

Things change. Times change. With all change comes uncertainty and angst. Such is it with the EB-5 Program approaching its “sunset” and looks to our country’s leaders to determine the program’s future.

While many proposed details of the future structure of the program are unclear, it is certain that change will indeed happen. Since its inception in 1992, Congress has failed to address adequate reforms for EB-5. With tremendous growth and over $13 Billion in direct foreign investment since 2008 alone, a program overhaul is long overdue. While largely touted a huge success for the US economy, a few bad apples have led to some short sighted negative press.

As the House and Senate move towards the December 11, 2015 spending deadline (Omnibus Spending Bill), the fate of EB-5 lies in wait. Compromised EB-5 language was included in the bill which contains substantial reform to the EB-5 Program.

Some of the specifics of the proposed legislation to reauthorize and reform the program include:

  1. Elimination of TEA areas
  2. Changes to how job creation is calculated
  3. Additional anti-fraud, securities laws and verification requirements
  4. Long term reauthorization of the program to September 2019
  5. Provide the Department of Homeland Security with better tools to guard against program abuse and promote program integrity
  6. Establish an EB-5 Integrity Fund
  7. Require Background Checks
  8. Raise the lower investment threshold to $800,000

While it is widely agreed upon that the EB-5 Program is in need of a facelift, the Program is still relevant and needed in today’s ever changing economic landscape. EB-5 is a powerful tool to the US economy and a viable instrument for US job creation.

It would be tragic to lose such an innovative and successful economic instrument.

Sources:

  1. The EB-5 Revolution has Begun. By Mathhew Gordon http://discuss.ilw.com/showthread.php?39760-Article-The-EB-5-Revolution-has-Begun-By-Matthew-Gordon
  2. IIUSA Supports Bicameral, Bipartisan Agreement by Judiciary Committee Leaders to Reform and Reauthorize EB-5. By IIUSA https://iiusa.org/blog/government-affairs/us-congress/iiusa-supportseauthorize-eb5/
  3. Lehy Draft to Congress. http://www.leahy.senate.gov/imo/media/doc/MDM15J00.pdf

Nevada NewsMakers Interviews Lynn Beteag

On Tuesday, November 17, 2015, Lynn Beteag, Managing Director of the Nevada State EB-5 Regional Center, was interviewed by Sam Shad. Sam is a local TV personality who hosts Nevada NewsMakers, an informative show on issues effecting the Silver State.

Lynn provided viewers with an overview of the EB-5 Program as well as the benefits to local businesses seeking capital contribution which can supplement their capital stack.

See the complete show on Nevada NewsMakers.

Lynn Beteag on Nevada NewsMakers

 

For more information about the EB-5 Program, contact the Nevada State EB-5 Regional Center:

855-498-6360

or

Admin@nveb5.org

NVEB-5 Participates in the Northern Nevada Business Summit

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Lynn Beteag and Evelyn Wheeler of the Nevada State EB-5 Regional Center at Northern Nevada Business Conference

In efforts to support area businesses, the Reno-Sparks-Northern Nevada Chamber of Commerce created a new annual event which provided attendees with an educational and informative conference addressing key employer and business issues. The event, titled the “Northern Nevada Business Summit” (NNBS), was held on November 5th, 2015 at the Nugget Resort in Sparks, Nevada.

The inaugural conference attracted over 100 exhibitors showcasing the latest in products and services. Exceeding expectations, The Chamber anticipates that subsequent years’ events will grow into the regions’ largest business-to-business trade show.

“The Nevada State EB-5 Regional Center (NVEB-5) was one of the many vendors participating in the conference. Lynn Beteag, Administrator of NVEB-5, commented, “The business summit and trade show was an event that was well worth participating in and attending. Our region is experiencing unprecedented diverse business growth which is creating many opportunities and challenges for existing businesses. NNBS is an opportunity for local businesses to gain insight into the issues facing the region. The Chamber is responding to our regional needs and offering a platform for both new and existing businesses to network, introduce product, provide market service solutions and offers an environment of idea collaboration. That is why Nevada State EB-5 Regional Center felt it beneficial to participate as an exhibitor. NVEB-5 felt the conference was an ideal place to showcase the benefits of the EB-5 Program for new businesses or existing businesses looking to expand or relocate which require supplemental capital to add to their capital stack. The program enables foreign capital investors to obtain legal entry into the US in exchange for a capital loan in local, approved job creating projects. The Program is of no cost to the tax payer. “

If you are a company or project developer seeking additional capital, contact NVEB-5 to discuss an exceptional opportunity to grow your business or launch a new venture that creates US jobs.

For more information,

Call: 1.885.498.6360

Or

Email: Admin@NVEB5.org

 

City Manager-Nick Marano Joins NVEB-5 Board of Directors

The Nevada State EB-5 (NVEB-5) Regional Center in Carson City announces Nick Marano as Member to the Board of Directors. Marano was elected to the position on July 30, 2015.

To read the complete press release visit Carson Now. 

 

Additionally, Marano mentors at the Adams Hub for Innovation and is a member of the Western Nevada College Institutional Advisory Council. Further, he has been an active member of International City Managers’ Association. Prior to his position with the city, Marano served as owner and consultant for a mechanical construction firm which coordinated with US military branches to enhance the Veterans in Piping (VIP) Program. VIP is a United Associations of Plumbers and Pipe Fitters Union (UA) Program designed to teach returning veterans valuable work skills for transition into civilian life.

 

Marano has an accomplished and distinguished military career serving in the US Marine Corps for over 32 years. From 2003 to 2007, Marano led a highly decorated infantry battalion which completed four combat tours in Iraq. From 2009 to 2012, he was the commanding officer for the Marine Corps’ largest base-Camp Pendleton, California. As Mayor and City Manager of Camp Pendleton, he managed city planning, construction and developed energy conservation plans. Nick Marano retired from the US Marine Corp in 2012 achieving the rank of Colonel.

 

Marano’s positon on the NVEB-5 Board of Directors will accompany such notable individuals as: Carson City Mayor-Bob Crowell, Ed Ahrens, Al Jurkonis, Gerald Gardner, Alan Tiras and Larry Rodriguez. Currently, Steve Neighbors presides as President of the organization with Chris MacKenzie serving as Secretary/Treasurer.

 

In comment to Mr. Marano’s election, Lynn Beteag, Administrator for NVEB-5 stated, “The Nevada  EB-5 Regional Center is honored to have Nick Marano as a member of our distinguished Board of Directors. His leadership and professionalism will be of great value to our organization, and we look forward to his participation.”

 

 

See additional article posting on the Nevada Appeal.

Helping Northern Nevada’s Infrastructure Keep Pace with Growth!

With Northern Nevada’s economy recovery and anticipated population growth, comes the need to ensure that Nevada’s infrastructure can keep pace. The costs associated with maintaining current roads, bridges etc. and public services can be daunting. The Nevada State EB-5 (NVEB-5) Regional Center can provide the supplemental capital tools needed to help the state meet its infrastructure needs. While not an entirely new concept, the idea is not well known nor understood in the Northern Nevada area.

Lynn Beteag, Administrator of the NVEB-5, has issued a press release (see below) in hopes of educating the public and public entities of the opportunities available through the approved U.S. Citizenship and Immigration Services (USCIS) EB-5 Program.

Northern Nevada infrastructure must keep pace with the anticipated economic growth of the region. Quick action to stay ahead of the growth curve is imperative.

nveb5

FOR IMMEDIATE RELEASE

Contact: Josie Martel
775.220.7820 / Josie@eNVogueMarketing.com

The Nevada State EB-5—Good for Area Businesses, Good for Infrastructure

Area Infrastructure in Need of Upgrades to Support Northern Nevada Growth

(Carson City, Nev., October 8, 2015) –With the Northern Nevada economy prospering, companies growing and many companies looking to the area for relocation, infrastructure requires critical attention. While the state embraces the long awaited economic resurgence, it possess the question, “Where will funding come from to front the cost of infrastructure refurbishment and enhancement?” The Nevada State EB-5 Regional Center (NVEB-5), located in Carson City, can supplement the capital demands of new and improved infrastructure through a unique program which not only provides capital for the public projects but also creates US based jobs.

NVEB-5 is reaching out to local municipalities, and state and local governments in hopes of educating governmental agencies to the benefits of the EB-5 Program. NVEB-5 is an approved United States Citizenship and Immigration Services (USCIS) Regional Center dedicated to creating local jobs and building our local economy through foreign capital investment.

Since Nevada ranks, once again, as the second fastest growing populations states in the country, the need to improve the infrastructure required to support the influx of businesses and populations is critical. The NVEB-5 Regional Center is a multifaceted economic development instrument which can be used to meet the growing infrastructure requirements. While virtually any expanding business or new venture can access the program, the latest type of projects that can utilize the EB-5 Program include: roads, bridges, public transportation, technology centers, senior care facilities and hospitals.

“The Nevada State EB-5 Regional Center is a powerful tool not only for our area businesses but also for public projects. This program can provide additional capital required to meet the high costs of building new roads and schools, for example. As the local area attracts more and more businesses, we will have to start addressing the infrastructure required to support growth. NVEB-5 can help Nevada meet these demands,” said Lynn Beteag, Administrator for NVEB-5.

Located in Carson City, Nevada the NVEB-5 is a non-profit EB-5 Regional Center dedicated to creating local jobs and building our local economy by bringing new and expanding companies/projects together with foreign capital investors.
Public and private projects looking for supplemental capital are encouraged to contact NVEB-5 at: 775.600.4090 or 855.498.6360 or visit: NVEB5.org.

About The Nevada State EB-5 Regional Center (NVEB-5)

The professionals at the Nevada State EB-5 Regional Center (NVEB-5) work to bring together exceptional business ventures, both new and expanding, and foreign capital investors. Through a stringent application and investment process, foreign investors can become fully qualified to obtain a U.S. Green Card for legal immigration into the United States. Unlike traditional EB-5 Regional Centers, NVEB-5 is a unique blend of a non-profit and an approved U.S. Citizenship and Immigration Services (USCIS) organization. NVEB-5 is located in the State Capital in beautiful Carson City, Nevada and works closely with the State of Nevada’s Northern Nevada Development Authority (NNDA) and the USCIS. The NVEB-5 board of directors are highly qualified and well-respected business managers, governmental officials and community leaders who provide sound solutions for businesses and viable opportunities for foreign investors. For more information on how to become a project or foreign capital investor, please visit: NVEB5.org or call: 855.498.6360.

# # #

See the article in CarsonNow.org.

US Chamber of Commerce in Support of EB-5 Program

Recently, the President and Chief Executive Officer of the US Chamber of Commerce, Thomas J. Donohue, wrote a compelling Op-Ed for The Hill in support of the EB-5 Program. EB-5 Insights website discussed Mr. Donohue’s article at length in a blog post on September 18th, 2015. See below.

NVEB-5 Administrator, Lynn Beteag agrees with many of Mr. Donohue’s points. In particular, she believes Northern Nevada municipalities should explore the benefits of utilizing the EB-5 Program in attracting capital investment for infrastructure projects such as: roads, bridges, etc. Beteag stated,”In addition to area infrastructure, year round resorts, charter schools and senior care facilities projects are good candidates for participation in the EB-5 program. Projects such as these, seeking supplemental capital, which are located in our service area, should consider the benefits of project participation.”

Projects located in Carson City, Douglas and Lyon counties, as well as the adjacent counties, are encouraged to contact the NVEB-5 for more information about the program.

The op-ed includes recognition that major organizations around the United States have rallied around the EB-5 program, and that have supported and championed its use, including the U.S. Chamber of Commerce and other industry groups.  These groups have also recognized that there is a need for reform of the program to prevent fraud and abuse, and as such, should be updated to include provisions for integrity, security, and oversight measures.

Mr. Donohue identifies a current concern surrounding the use of the EB-5 program in certain areas, and he does not believe that Congress should direct EB-5 investment into certain areas of the United States at the expense of other areas, since the program was designed to encompass all the areas in the United States that need job creation.  Because job creation is one of the purposes of the program, the way that jobs are counted are important, but should not be unreasonably limited or restricted.

Lastly, Mr. Donohue discusses the current backlog EB-5 petitions are receiving- to date, there are currently more than 13,000 EB-5 petitions pending approval, and if there are any changes to the program, these petitions should not be unfairly affected.  By applying any changes to these pending petitions would be to unfairly penalize and disrupt both current and potential projects. Read more.

Curated from U.S. Chamber of Commerce Pens Op-Ed in Support of the EB-5 Program | EB-5 Insights

 

 

The EB-5 Program: Something to Agree On

Access to various capital markets have the power to improve not only economic development but the quality of life for area residents. The EB-5 Program has been a powerful tool to new and existing ventures looking to expand. Communities across the US have experienced firsthand the benefits of the program and seen how the once underutilized program has developed in to a multifaceted economic development instrument. Through the EB-5 Program, billions of dollars have helped grow local economies.

Even in the ever changing political climate, both parties agree that greater investments in the US lead to more US based jobs that don’t add additional burden on the American taxpayer. This is the purpose of the EB-5 Program and something we can all agree on; however, the current program is set to sunset this month. The future of the program is in the hands of Congress…

Peter D. Joseph, Executive Director, IIUSA recently published an article discussing the future of the EB-5 Program.

The growth in the program has been exponential in the last few years and continues at an impressive clip. According to Invest in the USA’s (IIUSA) analysis, $1.815 billion in investment was generated in the first two quarters of FY2015 alone — a $400 million increase compared to the first two quarters of FY2014 and a $1.1 billion increase over the same period in FY2013. There are over 13,000 immigrant petitions waiting on approval by the U.S. Citizenship and Immigration Services (USCIS), representing more than $6.5 billion in potential incoming capital. Read more.

 

 

Are you looking for additional capital to fund your project?

Nevada State EB-5 Regional Center (NVEB-5) could be your answer!

NVEB-5 offers companies and project developer’s access to supplemental capital, which can be added to their project’s capital stack, through the EB-5 Immigrant Investor Program.

NVEB-5 is a United States Citizenship and Immigration Services (USCIS) approved EB-5 Program Regional Center located in Carson City, Nevada. NVEB-5 administrates USCIS compliance responsibilities and co-ordinates all communication between USCIS, the participating project and foreign investors. Simply, NVEB-5 is principally focused on growth of existing businesses and new business ventures through foreign capital investment. The benefits to qualifying projects are numerous such as supplemental project capital and flexible terms and loan structures.

Some of the project types that could benefit from EB-5 Program participation through NVEB-5 include:
• Shovel ready real estate developments or manufacturing projects
• Developers seeking: early capital contribution, construction, mezzanine financing
• Employee intensive enterprises
• Enterprises requiring capital to ramp up job creation
• Advantages for projects in rural and high unemployment areas (TEA)*
• Projects partner with NVEB-5 to improve economic impact (i.e. new job creation to improve local economy)
• Projects partner with local government for community impact (i.e. capital stack for convention center, stadium, community center, senior center)
• Local or State government partners with NVEB-5 for community impact (i.e. infrastructure development such as roads and bridges)

Industries successfully participating in the EB-5 Program are robustly varied. While no one segment has a clear advantage, there are a few industries with a tendency to excel in the program. Some of these industries are:
– Assisted Living Facilities
– Mining
– Private Education Facilities
– Medical Wellness Centers
– Retail/Mixed Use Projects
– Agriculture/Food Products Manufacturing
– Housing Development
– Infrastructure Development

If you are a company or project developer seeking additional capital, contact NVEB-5 to discuss an exceptional opportunity to grow your business or launch a new venture that creates US jobs.

Call: 1.885.498.6360
Or
Email: Admin@NVEB5.org

*TEA: Geographic area with a population greater than 20,000 with an unemployment rate of 150% of the national unemployment rate.

The 4th Annual California EB-5 Conference

The 4th Annual California EB-5 Conference in Los Angeles was held August 2nd thru 3rd, 2015 with some 500 in attendance. Hosted by EB5 Investors Magazine, the event gathered EB-5 stakeholders and attorneys for educational and networking opportunities. With the sunset of the EB-5 Program in September, attention was focused on the continued efforts of the House to reach a legislative solution to sustain and reform the EB-5 Program.

Keynote speaker, House Judiciary Chairman Bob Goodlatte (R-VA-6) emphasized his support for the program and provided updates to the proposed legislation. As House Judiciary Chairman, Congressman Goodlatte has legislative oversight of the EB-5 Program; the Congressman shared his account of the proceedings progress with attendees. Goodlatte stressed the need to reauthorize and reform the EB-5 program which contributes to the US economy through vital economic stimulus and job creation.

Lynn Beteag, Administrator of the Nevada State EB-5 Regional Center (NVEB-5) attended the conference to better understand the proposed reform. Changes within the EB-5 Program will be both beneficial and limiting for the future operations of all regional centers including NVEB-5, located in Carson City.

Beteag stated, “The EB-5 Investor Conference attracts the very best from the EB-5 industry. It is a great opportunity to discuss the latest market issues and trends as well as network with esteemed colleagues and other business professionals.”

Additionally, guest speaker former Governor of Pennsylvania, Edward G. Rendell gave a special address voicing his support of the EB-5 Program. A longtime advocate, Rendell was an especially ardent supporter of the use of the EB-5 program for the financing of the Pennsylvania Convention Center. Rendell has stressed that the EB-5 program is currently underutilized by individual states to assist in obtaining additional capital to finance infrastructure. Ms. Beteag commented, “The former Governor’s comments are particularly fitting for the growing Silver State. The NVEB-5 Regional Center could attract capital needed to grow and refurbish Nevada’s roads, bridges and highways.”