There are many subjective ways to measure the value of a program like EB-5 investment visa program, but the objective truth is in the numbers. Peter Joseph, Executive Director of the not-for-profit IIUSA trade association for EB-5 Regional Centers recently shared some of the significant date relative to the increasing popularity and impact of the EB-5 immigration opportunity. In FY2014, 10,928 I-526 petitions were submitted to the USCIS. That is a 72% increase over FY2013 when 6,346 applications were received. In FY2014, 5,115 petitions were approved by the USCIS. This is more than double the previous year and is nearly 800% greater than in FY2008 when the economic crisis sent developers scrambling for alternative funding sources. In FY2014, a total of some $2.6 billion was designated to fund approved EB-5 projects. In FY2014, 2,516 I-829 petitions were received requesting removal of visa conditions with evidence that the job-creation requirements had been met. During the same period, the USCIS approved a total of 1,603 petitions . . . meaning that a total of at least 16,030 jobs had been created as required and verified. It is important to note that all of these numbers are like a snapshot of a singular moment in what is an ongoing process. Therefore, the actual number of jobs created or being created is much greater. For instance, the 5,115 I-526 petitions approved in FY2014 alone will result in 51,115 new or saved jobs. The continued popularity of the EB-5 program will continue to drive the investment dollars and jobs created to record levels. - See more at: ift.tt/1zb1zcK DatSyn News - How Big Has EB-5 Become?
Posted on: Mon, 22 Dec 2014 08:27:44 +0000
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