“We are putting our different business interests aside and joining forces to reach the common goal of protecting our clients’ rights and continuing to provide needed capital for economic development projects,” said the plaintiffs in a joint statement. “Through this action, we seek to protect the viability of this highly successful economic development and job-creating program, the regional centers that facilitate the program, and the foreign investors who participate in the program. We believe Congress intended to allow regional centers to immediately get back to the business of EB-5 – while at the same time working to bring themselves quickly into compliance with the new integrity and other requirements of the RIA. In fact, there is consensus within the EB-5 industry that Congress intended to have the Regional Center program back in business as soon as the RIA was in effect on May 15, 2022.”
Collectively, these five long-established operators manage 26 regional centers across 21 states. Over the years, they have facilitated $5.3 billion in EB-5 investments, developing 143 projects across the country, and they are responsible for the creation of more than 190,000 jobs for U.S. workers. The EB-5 program has an overwhelmingly positive impact on the U.S. economy. According to the data collected and analyzed by IIUSA, between 2008 and 2021, the EB-5 Program helped…
