Published on 06/08/2015
Hello I’m Vaughan de Kirby and today I’m going to address a question which we see in the media. The question is a very good one: Is EB-5 good for the United States? In my mind, the answer is a resounding yes.
I believe this country is a country of immigrants. The immigrants that come to this country have made this country; they’ve contributed to our culture; our expertise and our technology. My father immigrated to this country as a young man, went on to become an engineer, and was able to work for Convair during World War II, and contributed to our victory in World War II through his design efforts with our aircrafts. I believe in the immigration part of EB-5.
EB-5 Designed to Create Jobs
But let’s look at EB-5 through a purely economic point of view. We know that EB-5 perhaps was not designed as a path for immigration, as much as it was a path for immigration to contribute to the American economy. In a most recent study that was peer reviewed, it was found that EB-5 has contributed over $3.8 billion to the American economy. As we know, EB-5 was designed to create jobs. EB-5 has created, according to the study, 41,000 jobs. That’s jobs for American citizens and permanent residents. There is absolutely no question that we are a country of immigrants, and now we can see that this program makes sense for all of us.
On September 30, 2015, EB-5 is up for renewal. It’s called a pilot program, and that means that currently every three years, congress must renew this program. If you talk to your congressman or talk to your representative, make sure you tell them that you know that EB-5 is a contributor to the American economy. If you have questions about EB-5, contact Jatoi & de Kirby, APC or call us at 415.221.2800.