Congress Reauthorizes EB-5 Regional Center Program
Five-year authorization through September 30, 2027
Milwaukee, WI – WEBWIRE – Friday, March 11, 2022
United States communities and investors looking to start a new life in the United States. Today marks a new chapter. This is a proud moment for everyone who crafted this day – public, private, nonprofit, and individuals. This long-term authorization cultivates improvements which will serve our communities and provide protections for immigrant investors for years to come.
Late Thursday night, the United States Congress passed the Omnibus bill to fund the United States Federal Government and renew the EB-5 Immigrant Investor Regional Center Program. The bill heads to the desk of President Joe Biden for final signature today.
In a joint statement from Nancy Pelosi and Senate Majority Leader Chuck Schumer earlier this week, both touted the significant nature of the bill. This historic legislation will carry major bipartisan legislation that has been in the making for years.
The Consolidated Appropriations Act, 2022 (H.R. 2471) includes a 5-year authorization for the EB-5 Regional Center Program through September 30, 2027, visa protections for investors from expired legislation, concurrent filing of adjustment of status, and adjustment of fees to achieve efficient processing times, long desired by stakeholders. In addition, the bill sets forward investment amounts for new investors at $800,000 in rural or high unemployment Targeted Employment Areas (TEAs) and $1,050,000 in all other areas.
This bill marks the culmination of over a decade of efforts to update the program and is the first long-term reauthorization the program has received since 2015. In addition, this bill restores incentives for EB-5 investments in rural and economically depressed regions, that are struggling to recover from the long-term effects of pandemic conditions. I have championed these bipartisan reforms for many years, and I am proud that we are finally going to enact them. Chairman of the Senate Appropriations Committee, Patrick Leahy (D-Vt.)
For over 30 years this program has created opportunities for United States communities and investors looking to start a new life in the United States. Today marks a new chapter. This is a proud moment for everyone who crafted this day – public, private, nonprofit, and individuals. This long-term authorization cultivates improvements which will serve our communities and provide protections for immigrant investors for years to come. Bob Kraft, President of IIUSA and Chairman and CEO FirstPathway Partners.
About EB-5
Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under this program, investors, their spouse, and unmarried children under 21 are eligible to apply for a Green Card (permanent residence) if they make an $800,000 or $1.05 million investment which creates or preserves 10 permanent full-time jobs for qualified U.S. workers.
About IIUSA
Invest in the USA (IIUSA) is the national membership-based 501(c)(6) not-for-profit industry trade association for the EB-5 Regional Center Program. Members account for a vast majority of capital formation and job creation in the U.S. resulting from the EB-5 Program.
About FirstPathway Partners
FirstPathway Partners has helped foreign investors become United States citizens through immigrant investor programs since 2008. FirstPathway Partners has assisted hundreds of immigrant investors from over 40 countries around the world, raising millions of dollars for job-creating enterprises, and creating thousands of jobs for US workers.
About Bob Kraft
Kraft leads both FirstPathway Partners and IIUSA with an extensive background in immigrant investor programs, global relations, U.S. job creation, and economic growth. He has used his experience and vast network of business and government contacts to further IIUSAs mission, speaking to media and at conferences around the world on an array of topics. Kraft has earned praise locally for driving economic growth and job creation through the EB-5 Program in the State of Wisconsin. He has been featured on television, radio, in newspapers locally and internationally for his work in the EB-5 industry.
For more information regarding this press release, please visit www.firstpathway.com or contact:
Jennifer Sherer
FirstPathway Partners
Senior Vice President
+1 (414) 431-0742
jsherer@firstpathway.com
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Pay Dirt: Volume III Dragon Tooth Gold Series, a new book by Kent J. McGrew, has been released by Dorrance Publishing Co., Inc. Gold is where you find it; the time-honored mantra of the weekend prospector to the seasoned professional; is at best only a half-truth. Gold is where the planet, through its myriad, inanimate geological processes, choose to leave it. The Dragon Tooth Gold Mine was no exception to the science underlying the geological process of gold deposition, however, only difficult to find microscopic gold on the surface masked the deposit from the greedy eyes of the early prospectors. But it’s not only “The Luck of the Irish” that brings the young Callahans to one of the richest gold mines in the Arizona Territories. Through the patience and perseverance of an Indian woman that Eli Callahan takes for his wife, the secrets of the red mountain are unveiled layer by layer. From gold pan to arrastra and sluice; to underground mining, stamp mills, and amalgam tables, the wealth of the Dragon Tooth Mine fuels the Federal money presses of the Civil War. There is more in the mine than gold; the remains of dinosaurs that roamed the earth sixty-five million years ago also await for discovery. More than fossilized bones, the unique discovery fans the fires of news craven printing presses worldwide. Ahead of their times, the Callahans continue the legacy of their father, building wealth and security through hard work, fair labor practice emancipating slaves, and sharing the wealth through shared ownership with their workers. More adventure, more intrigue, the Dragon Tooth Gold Series continues moving through and beyond the Civil War years. About the Author Kent continues to mentor and teach both children and adults, sharing science, math, and mining; avoiding the perils and pitfalls of retirement. Pay Dirt: Volume III Dragon Tooth Gold Series is a 368-page hardcover with a retail price of $31.00 (eBook $26.00). The ISBN is 978-1-6491-3154-6. It was published by Dorrance Publishing Co., Inc of Pittsburgh, Pennsylvania. For members of the press, to request a review copy, visit our virtual pressroom at http://dorrancepressroom.com/pay-dirt/ or to buy the book visit our online bookstore at http://bookstore.dorrancepublishing.com/pay-dirt-volume-iii-dragon-tooth-gold-series/ Immigrants: Volume I Dragon Tooth Gold Series, a new book by Kent J. McGrew, has been released by Dorrance Publishing Co., Inc. Immigrants: Volume I Dragon Tooth Gold Series begins the story of Aaden Callahan and Anna Mercier; two landed immigrants. They meet while teaching at Columbia University in New York City. The year is 1841. The young Dr. Callahan woos and wins the heart of the smart and beautiful Anna, but their courtship isn’t easy. Kent J. McGrew brings years of industrial experience as a metallurgical engineer to every aspect of his stories. A sailing trip doesn’t just take you somewhere, it teaches navigation and the skills to weather hurricanes, fight pirates and outwit the oppressive laws of the day concerning African Americans. Through the eyes of his characters, his readers get to experience America in the mid 1800’s where land and resources were in abundance to all who worked with determination. The industrial revolution is robust and the Callahan family shape an empire with whiskey and lumber and a loyal labor force in the form of emancipated slaves. From the author: “Dragon Tooth gold is uniquely laden with the engineering and technology of the times. Our ancestors worked hard and despite the current feeling that their thinking was old fashion, everything that they did successfully was well thought out, sometimes beyond genius. I want my readers to see our roots in the reality of getting the work done. In our age of information, invention and innovation are all too often taken for granted. Our physical world still needs to be put together piece by piece. Knowing how we got where we are today will help us prevent the mistakes, prejudices, and misconceptions of the past.” About the Author Immigrants: Volume I Dragon Tooth Gold Series is a 286-page hardcover with a retail price of $29.00. The ISBN is 978-1-6491-3152-2. It is also available as an eBook. It was published by Dorrance Publishing Co., Inc of Pittsburgh, Pennsylvania. For members of the press, to request a review copy, visit our virtual pressroom at http://dorrancepressroom.com/immigrants/ or to buy the book visit our online bookstore at http://bookstore.dorrancepublishing.com/immigrants-volume-i-dragon-tooth-gold-series/Congress, AZ Author Publishes Third Historical Fiction Novel
Kent McGrew has taken a refreshing break from years of technical writing to bring his readers Dragon Tooth Gold; an epic historical fiction of gold mining in the American West. Born during WWII, McGrew was raised by immigrant grandparents in the Sacramento Valley. He was drawn into mining partnerships with his father at age fourteen where he discovered the science that should be the bulwark of every effort. After three mining venture failures, he attended the Montana School of Mines for degrees in Mineral Dressing Engineering, an odd corner of extractive metallurgy recovering minerals and metals from ores.Congress, AZ Author Publishes Historical Fiction Novel
Kent J. McGrew is a seasoned metallurgical engineer. His mining career started at age fourteen and has been a continuous adventure for sixty years. He has held every position a mining company has to offer from underground laborer to COO and has traveled the world for project work. Kent lives in Arizona with his wife Sally, has three children and five grandchildren. He helped build the Congress Elementary School and served tutoring, mentoring, and as the President of the School Board. After a half century of technical writing, Kent chose historical fiction to have some fun and has a unique way of teaching through the experiences of his characters.
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